The Market Monitor Minding the Nation's Business
The combined effects of tropical cyclones Luis and Maymay and the southwest monsoon (habagat) have caused more than ₱2.9 billion in damage to infrastructure and agriculture, underscoring the growing economic toll of extreme weather on communities and livelihoods across the country.
The National Disaster Risk Reduction and Management Council (NDRRMC) reported as of August 13 that infrastructure damage had reached more than ₱2.64 billion, while agricultural losses stood at approximately ₱347 million, bringing the combined damage to nearly ₱3 billion.
The weather disturbances, which heavily enhanced the habagat, have affected 3,733,883 people or 1,087,246 families across 10 regions, including areas in Luzon, the Visayas, and Mindanao.
The disaster has also resulted in 21 reported deaths and 14 injuries, with landslides and rockslides accounting for several fatalities, particularly in parts of the Cordillera region. Three people were also reported missing.
Around 15,000 people have sought temporary shelter in evacuation centers as flooding, landslides and other weather-related incidents forced families to leave their homes.
The infrastructure losses include damage to roads and other public structures caused by flooding, landslides, and prolonged heavy rains. The scale of the damage is expected to put additional pressure on government funds for rehabilitation and reconstruction.
Agriculture has likewise suffered significant losses, with approximately ₱347 million in damage reported to crops and farming facilities. The losses could further affect the income of farmers and disrupt local food supply chains in affected areas.
Government agencies and local authorities have continued relief and response operations, with assistance worth more than ₱458 million distributed to affected families.
With the habagat and the effects of the tropical cyclones continuing to affect portions of the country, authorities are maintaining disaster-response and relief operations in affected communities.