Hello, PIDS friends! Here's our #PIDSFactFriday for the week on the economic cost of disasters.

A PIDS study reported that from 2005 to 2014, an annual average of 18 disasters hit the Philippines, resulting in 1,817 human deaths and PHP 85 billion in economic losses, based on computations by CRED EMDAT and UNISDR. Probabilistic risk estimates of the annual average damage from all hazards amount to PHP 422 billion, equivalent to 3 percent of the country’s gross domestic product in 2016. A total of 12.1 million Filipinos are affected by disasters per year. The study recommends strengthening of institutional structures to address perennial issues on the expediency of disaster response and insufficient support to disaster victims, as well as enhancing civil and community protection. It also underscores the need to promote a whole-of-government approach and to enhance the participation of the private sector, civil society organizations, and community actors in disaster risk reduction and management.

Know more about the publication titled “Institutional Issues on Disaster Risk Reduction and Management" here: https://www.pids.gov.ph/publications/5890

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