Philippine News World Bank cuts 2013, 2014 Philippine growth due to typhoon Haiyan

Because of the typhoon Haiyan/Yolanda, World bank announce that the growth forecast for the Philippines this year 2014 has been lowering because one happen in the central province in visayas Philippines, but recovery and reconstruction efforts should boost economic growth in 2015.

Philippines one of the fastest growing country in terms of economic development ,but because of the typhoon the economic growth of the Philippines drop down . Rebuilding of new public infrastructure/livelihoods and the delivery of social safety net programmes for the poor and the most vulnerable should power growth in 2015 with GDP expected to reach 7.1 percent, higher than an earlier forecast of 6.8 percent, Rogier van den Brink, World Bank lead economist, said in the statement.