March 26, 2017, 7:45 am
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1 Philippine Peso = 0.07295 UAE Dirham
1 Philippine Peso = 2.48788 Albanian Lek
1 Philippine Peso = 0.03556 Neth Antilles Guilder
1 Philippine Peso = 0.3095 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03556 Aruba Florin
1 Philippine Peso = 0.03973 Barbados Dollar
1 Philippine Peso = 1.59217 Bangladesh Taka
1 Philippine Peso = 0.03602 Bulgarian Lev
1 Philippine Peso = 0.00747 Bahraini Dinar
1 Philippine Peso = 33.62574 Burundi Franc
1 Philippine Peso = 0.01986 Bermuda Dollar
1 Philippine Peso = 0.02782 Brunei Dollar
1 Philippine Peso = 0.13667 Bolivian Boliviano
1 Philippine Peso = 0.06237 Brazilian Real
1 Philippine Peso = 0.01986 Bahamian Dollar
1 Philippine Peso = 1.30066 Bhutan Ngultrum
1 Philippine Peso = 0.20198 Botswana Pula
1 Philippine Peso = 397.69567 Belarus Ruble
1 Philippine Peso = 0.03968 Belize Dollar
1 Philippine Peso = 0.02656 Canadian Dollar
1 Philippine Peso = 0.01978 Swiss Franc
1 Philippine Peso = 13.15634 Chilean Peso
1 Philippine Peso = 0.13692 Chinese Yuan
1 Philippine Peso = 57.86254 Colombian Peso
1 Philippine Peso = 10.93802 Costa Rica Colon
1 Philippine Peso = 0.01986 Cuban Peso
1 Philippine Peso = 2.03496 Cape Verde Escudo
1 Philippine Peso = 0.49851 Czech Koruna
1 Philippine Peso = 3.5151 Djibouti Franc
1 Philippine Peso = 0.13724 Danish Krone
1 Philippine Peso = 0.93127 Dominican Peso
1 Philippine Peso = 2.1644 Algerian Dinar
1 Philippine Peso = 0.28863 Estonian Kroon
1 Philippine Peso = 0.35856 Egyptian Pound
1 Philippine Peso = 0.45093 Ethiopian Birr
1 Philippine Peso = 0.01845 Euro
1 Philippine Peso = 0.04108 Fiji Dollar
1 Philippine Peso = 0.01589 Falkland Islands Pound
1 Philippine Peso = 0.01592 British Pound
1 Philippine Peso = 0.08837 Ghanaian Cedi
1 Philippine Peso = 0.86869 Gambian Dalasi
1 Philippine Peso = 183.55185 Guinea Franc
1 Philippine Peso = 0.1458 Guatemala Quetzal
1 Philippine Peso = 4.10191 Guyana Dollar
1 Philippine Peso = 0.1543 Hong Kong Dollar
1 Philippine Peso = 0.46583 Honduras Lempira
1 Philippine Peso = 0.13612 Croatian Kuna
1 Philippine Peso = 1.34644 Haiti Gourde
1 Philippine Peso = 5.70143 Hungarian Forint
1 Philippine Peso = 264.73977 Indonesian Rupiah
1 Philippine Peso = 0.07242 Israeli Shekel
1 Philippine Peso = 1.29991 Indian Rupee
1 Philippine Peso = 23.46047 Iraqi Dinar
1 Philippine Peso = 644.02066 Iran Rial
1 Philippine Peso = 2.20501 Iceland Krona
1 Philippine Peso = 2.54927 Jamaican Dollar
1 Philippine Peso = 0.01405 Jordanian Dinar
1 Philippine Peso = 2.21154 Japanese Yen
1 Philippine Peso = 2.04112 Kenyan Shilling
1 Philippine Peso = 1.37288 Kyrgyzstan Som
1 Philippine Peso = 78.68693 Cambodia Riel
1 Philippine Peso = 9.14978 Comoros Franc
1 Philippine Peso = 17.87843 North Korean Won
1 Philippine Peso = 22.29479 Korean Won
1 Philippine Peso = 0.00604 Kuwaiti Dinar
1 Philippine Peso = 0.01629 Cayman Islands Dollar
1 Philippine Peso = 6.28526 Kazakhstan Tenge
1 Philippine Peso = 163.01152 Lao Kip
1 Philippine Peso = 29.90465 Lebanese Pound
1 Philippine Peso = 3.01549 Sri Lanka Rupee
1 Philippine Peso = 1.78784 Liberian Dollar
1 Philippine Peso = 0.24851 Lesotho Loti
1 Philippine Peso = 0.06056 Lithuanian Lita
1 Philippine Peso = 0.01233 Latvian Lat
1 Philippine Peso = 0.02811 Libyan Dinar
1 Philippine Peso = 0.19785 Moroccan Dirham
1 Philippine Peso = 0.38468 Moldovan Leu
1 Philippine Peso = 1.12515 Macedonian Denar
1 Philippine Peso = 27.19507 Myanmar Kyat
1 Philippine Peso = 48.70878 Mongolian Tugrik
1 Philippine Peso = 0.15892 Macau Pataca
1 Philippine Peso = 7.09178 Mauritania Ougulya
1 Philippine Peso = 0.69785 Mauritius Rupee
1 Philippine Peso = 0.30671 Maldives Rufiyaa
1 Philippine Peso = 14.24096 Malawi Kwacha
1 Philippine Peso = 0.3761 Mexican Peso
1 Philippine Peso = 0.08802 Malaysian Ringgit
1 Philippine Peso = 0.24708 Namibian Dollar
1 Philippine Peso = 6.25745 Nigerian Naira
1 Philippine Peso = 0.58244 Nicaragua Cordoba
1 Philippine Peso = 0.16898 Norwegian Krone
1 Philippine Peso = 2.0729 Nepalese Rupee
1 Philippine Peso = 0.02831 New Zealand Dollar
1 Philippine Peso = 0.00765 Omani Rial
1 Philippine Peso = 0.01986 Panama Balboa
1 Philippine Peso = 0.06437 Peruvian Nuevo Sol
1 Philippine Peso = 0.06286 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08244 Pakistani Rupee
1 Philippine Peso = 0.0787 Polish Zloty
1 Philippine Peso = 111.14024 Paraguayan Guarani
1 Philippine Peso = 0.07233 Qatar Rial
1 Philippine Peso = 0.08402 Romanian New Leu
1 Philippine Peso = 1.13951 Russian Rouble
1 Philippine Peso = 16.2352 Rwanda Franc
1 Philippine Peso = 0.07449 Saudi Arabian Riyal
1 Philippine Peso = 0.15454 Solomon Islands Dollar
1 Philippine Peso = 0.26917 Seychelles Rupee
1 Philippine Peso = 0.13244 Sudanese Pound
1 Philippine Peso = 0.17566 Swedish Krona
1 Philippine Peso = 0.02783 Singapore Dollar
1 Philippine Peso = 0.0159 St Helena Pound
1 Philippine Peso = 0.44112 Slovak Koruna
1 Philippine Peso = 142.70957 Sierra Leone Leone
1 Philippine Peso = 10.90584 Somali Shilling
1 Philippine Peso = 452.14739 Sao Tome Dobra
1 Philippine Peso = 0.17327 El Salvador Colon
1 Philippine Peso = 10.23004 Syrian Pound
1 Philippine Peso = 0.24791 Swaziland Lilageni
1 Philippine Peso = 0.68872 Thai Baht
1 Philippine Peso = 0.04503 Tunisian Dinar
1 Philippine Peso = 0.04577 Tongan paʻanga
1 Philippine Peso = 0.0722 Turkish Lira
1 Philippine Peso = 0.13328 Trinidad Tobago Dollar
1 Philippine Peso = 0.60552 Taiwan Dollar
1 Philippine Peso = 44.25904 Tanzanian Shilling
1 Philippine Peso = 0.53754 Ukraine Hryvnia
1 Philippine Peso = 71.25546 Ugandan Shilling
1 Philippine Peso = 0.01986 United States Dollar
1 Philippine Peso = 0.55781 Uruguayan New Peso
1 Philippine Peso = 70.42114 Uzbekistan Sum
1 Philippine Peso = 0.19815 Venezuelan Bolivar
1 Philippine Peso = 451.90703 Vietnam Dong
1 Philippine Peso = 2.11462 Vanuatu Vatu
1 Philippine Peso = 0.05075 Samoa Tala
1 Philippine Peso = 12.09416 CFA Franc (BEAC)
1 Philippine Peso = 0.05364 East Caribbean Dollar
1 Philippine Peso = 12.176 CFA Franc (BCEAO)
1 Philippine Peso = 2.18852 Pacific Franc
1 Philippine Peso = 4.96524 Yemen Riyal
1 Philippine Peso = 0.24804 South African Rand
1 Philippine Peso = 103.08899 Zambian Kwacha
1 Philippine Peso = 7.18911 Zimbabwe dollar

4-year reconstruction to cost P361B

The Aquino administration has prepared a four-year recovery and reconstruction plan in areas that were affected by super typhoon Yolanda, which will hopefully bring back at the very least  the economic and social conditions in the affected provinces to pre-typhoon levels.
 
The Reconstruction Assistance on Yolanda (RAY) plan will require P361 billion worth of investments, which will be disbursed over a period of four years.
 
For this year alone, the national government will disburse P100 billion under its 2014 budget to cover the short-term needs in the affected areas.
 
Under the P2.265 trillion 2014 General Appropriations Act, P20 billion has been allocated to the Rehabilitation and Reconstruction  Program, while another P80 billion under the Unprogrammed Fund will be channeled towards reconstruction projects in the provinces hit by the super typhoon.
 
The government was already able to release P34 billion last year for the critical immediate needs in affected areas.
 
National Economic and Development Authority director general Arsenio Balisacan earlier said the estimated total investment requirements over the four-year period will cover shelter and resettlement (P183.3 billion), public infrastructure (P28.4 billion), education and health services (P37.4 billion), agriculture (P18.7 billion), industry and services (P70.6 billion), local government (P4 billion), and social protection (P18.4 billion).
 
“RAY is the government’s strategic plan to guide the recovery and reconstruction of the economy, lives, and livelihoods in the affected areas,” Balisacan said.
 
The NEDA chief said with the reconstruction plan in place, the government’s infrastructure spending could go beyond the target of five percent of the country’s gross domestic product by 2016.
 
“Obviously we will have to move forward. Because of the needs for the recovery and reconstruction in Visayas, we’re looking at a higher number for infrastructure spending, more than five percent of GDP by 2016,” Balisacan said.
 
“We may need to move that up a little higher because of the reconstruction we need to undertake not only for the Yolanda-affected areas, but also for the areas affected by the recent earthquake,” the NEDA chief added.
 
The World Bank said government spending on infrastructure must be increased to five percent of GDP to be able to support the Aquino administration’s goal of inclusive growth.
 
For this year, the national government expects infrastructure spending will exceed 3.2 percent of the country’s GDP as disbursements for the short-term needs are already seen to significantly boost spending.
 
“The program for infrastructure spending (this year) is 3.2 percent of GDP, but it can go higher. We will have to ramp up spending in infrastructure,” Budget Secretary Florencio Abad earlier said.
 
Balisacan said the design of RAY and its estimated investment requirements are based on the results of the damage, loss, and needs assessment using data from national government agency-led sector teams.
 
He said in some cases, upward adjustments were made to fully reflect the costs of integrating disaster-resilient standards into the reconstruction needs for some sectors, as well as to address estimated income losses in agriculture enterprises, and to provide adequate social protection.
 
“We are espousing the build back better principle to make affected communities more resilient and sustainable,” he said.
 
According to Balisacan, the total damage and loss from super typhoon Yolanda has been estimated at P571.1 billion.
 
He said this includes physical assets, reductions in production, sales, and income, as well as the value of increased operating costs resulting from the disaster.
 
Of the total damage and loss, about 90 percent covered the private sector while 10 percent fell on the public sector.
 
Balisacan said the super typhoon caused damage and loss to infrastructure (P33.98 billion), agriculture (P62.11 billion), industry and services (P116 billion), education (P23.9 billion), health (P5.57 billion), housing (P325.24 billion), and local government (P4.3 billion).
 
Balisacan explained the sector-level damage and loss assessments are based on United Nations Economic Commission for Latin America and the Carribean’s Handbook for Estimating the Socioeconomic and Environmental Effects of Disasters, an internationally recognized post-disaster assessment methodology.
 
“Using this methodology, we defined damage as the total or partial destruction of physical assets. Loss, on the other hand, is defined as the change in economic flows which refers to loss of incomes, revenues or operational costs,” the NEDA chief said.
 
“Needs means the overall recovery and reconstruction requirements for the public and private sector in the short and medium term,” he added.
 
Balisacan said the government will be strategic in its financing interventions and will mobilize other sources of funds that are now being made available by development partners and the private sector.
 
“It is important that we have a plan immediately in place. RAY shall also guide our development partners and the private sector in assessing and analyzing financing gaps, determining which sectors or areas to focus their assistance on considering their respective country partnership strategies,” he said.
 
According to the Foreign Aid Transparency Hub (FAiTH), a web-based initiative which allows the public to monitor the status of foreign aid to the Philippines, The international aid pledged by different countries and global institutions to support the disaster response and rehabilitation efforts Yolanda-affected has already reached P23.798 billion.
 
Of the total foreign aid pledged, around P2.8 billion is cash while around P21 billion is considered non-cash.
 
As of December 18, 2013, the total cash received by the government is close to P593 million.
 
LOSS OF JOBS
 
According to the International Labour Organization (ILO), around 5.9 million workers had their livelihoods lost or suspended or affected in some way because of the super typhoon.
 
The ILO said 2.6 million of these were already in vulnerable employment and living at or near the poverty line even before the typhoon.
 
NEDA also earlier said that because of the super typhoon, the poverty rate in the entire country could increase by as much as 1.5 percentage points in 2013.
 
“There has been a recent study by the Asian Development Bank, and their estimates show that the additional number of the poor would increase probably by as much as 1.5 percentage points, because of the incidence of disasters,” NEDA Assistant Director General Rosemarie Edillon said.
 
“It was a simulation of a Yolanda-like disaster. It translates to 1.5 million Filipinos. That could be the worst case scenario,” she added.
 
Edillon also said there’s a possibility that Region VIII or the Eastern Visayas region, which was severely affected by the super typhoon, could end up being the poorest region for 2013.
 
According to the 2012 Full Year Official Poverty Statistics, the Autonomous Region of Muslim Mindanao is the poorest region in 2012, with the poverty incidence among the population at 55.8 percent.
 
“Region VIII is already a poor region. If we have around 50 percent poverty incidence in the region to begin with, we should be looking at those in the sixth and seventh income decile. If they’re vulnerable, and you get a shock like Yolanda, will that slide them into poverty? That’s what we’re looking at,” Edillon said.
 
According to an earlier assessment of NEDA, after the typhoon, the persons living below the poverty level in the region could have already risen to 59 percent to 64 percent.
 
“A very important consideration at this time is the impact of natural disasters on poverty. These occurrences have the power to negate gains in economic growth and development,” Edillon said.
 
The ILO said it is working with the government and supporting agencies like Department of Labor and Employment (DOLE) and the Technical Education and Skills Development Authority through emergency employment, skills training, and enterprise development for those who were affected by the super typhoon.
 
“Since Haiyan (Yolanda) struck on November 8, the ILO supported the DOLE in creating over 20,000 jobs under the emergency employment program. We reached out to 100,000 people during the initial phase in 2013 to help improve their living and working conditions,” Lawrence Jeff Johnson, Director of the ILO Country Office for the Philippines, said.
 
“But more needs to be done to provide access to safe and decent work that includes ensuring minimum wages, sound occupational safety, skills development and social protection in line with national laws,” he added.
 
The ILO said three million workers were affected in the service industry, which includes people working in shops, public markets, and restaurants, as well as vendors, tricycle and jeepney drivers, mechanics, clerks, and teachers.
 
Aside from workers in the service sector, 1.9 million workers in agriculture and one million in industry were also affected by the super typhoon.
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