PICTURE OF DEVASTATION The fury of Supertyphoon “Yolanda” sent a cargo ship hurtling inland in Tacloban City. —RICHARD A. REYES
The National Economic and Development Authority (Neda) reported on Nov. 27, 2014, a year after Supertyphoon “Yolanda” flattened Eastern Visayas, that the third quarter gross domestic product contracted to 5.3 percent from 7 percent compared to the same period in 2013.
Neda cited the “lingering negative impact of Typhoon Yolanda and other calamities” in coconut-producing Visayas and the agrofishery and forestry sector.
The country has yet to return to the 7-percent GDP annual growth in pre-Yolanda period.
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