Floods compound Philippine growth woes from public-works scandal
The country’s governance and climate risks are further dampening investor confidence
Add BT as a preferred source
[MANILA] Severe flooding across the Philippines is threatening to add a fresh drag to an economy already reeling from the fallout of a public works corruption scandal, which has slowed infrastructure spending and hurt investor confidence.
The disruption comes as Manila is trying to capture a larger share of South-east Asia’s China+1 manufacturing windfall.
The latest storms and crippling floods have affected about 9.4 million Filipinos, and has hit major industrial corridors, such as the manufacturing hubs of Calabarzon, Central Luzon and Metro Manila, which are vulnerable to extreme and recurrent flooding.
