Two typhoons which struck the Philippines' main island of Luzon in recent months will probably dampen growth in the near term, stretch state finances and push 480,000 people into poverty, a post-disaster report showed on Wednesday. Damages and losses to crops, property, and infrastructure from typhoons Ketsana and Parma reached nearly $4.4 billion, or 2.7 percent of the Southeast Asian country's gross domestic product.
Storms to hit Philippine growth, raise poverty: World Bank
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Thursday, December 3, 2009
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