Taal Volcano eruption didn’t hurt much Calabarzon’s GDP

MANILA, Philippines — The Taal Volcano eruption in Batangas province did not cause a big impact on the gross domestic product (GDP) in Calabarzon region, Finance Secretary Carlos Dominguez III said Friday.

“In Taal, the effect on the GDP there is really very small. I think it’s .17 of the GDP of the Calabarzon area, I don’t think that’s that big hit,” Dominguez said during the press conference of the 118th anniversary of Bureau of Customs.

The government official, however, clarified that he was not downplaying the effect of the eruption on the villagers in Batangas.

“Of course, I am not downplaying the misery of people that have people suffered because they lost their homes, especially the people who live around the islands. So those people were really hit but as a whole, I don’t think it [GDP effect] was very large,” he said.

Dominguez said they have yet to predict the overall effects on the revenue growth in the country if the Taal Volcano erupts again.

The Philippine Institute of Volcanology and Seismology  (Phivolcs) said the Taal Volcano is placed under Alert Level 3 which means “sudden steam-driven and weak phreatomagmatic explosions, earthquakes, ashfall and lethal gas expulsions may still occur.