Beyond the storm: PHL economic slowdown reveals the deeper impact of climate change

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The story "Beyond the storm: PHL economic slowdown reveals the deeper impact of climate change" was covered 1 weeks ago by Business Mirror, a news publisher based in Philippines.

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Beyond the storm: PHL economic slowdown reveals the deeper impact of climate change - Business Mirror

Quick Summary:

THE Philippine economy’s recent slowdown to a 5.2 percent growth rate in the third quarter of 2024, the lowest since the second quarter of 2023, has raised serious concerns.

While the government remains optimistic, attributing the dip to temporary factors like typhoon disruptions, a closer examination reveals a more complex and potentially worrying picture. The confluence of severe weather events, exacerbated by climate change, and their impact on both agricultural output and crucial government infrastructure paints a concerning picture for the country’s long-term economic prospects.(Read the BusinessMirror story: Climate risks to agri, infra to hurt growth, November 8, 2024).

The government’s optimism, while understandable, must be tempered with a realistic assessment of the significant and ongoing threats posed by climate change.