Pag-init ng panahon at El Niño, may epekto sa paglago ng ekonomiya, ayon sa discussion paper ng BSP | Saksi - video Dailymotion

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00:00 Not only the public's health, but also the economy's growth

00:03 is affected by the heat of the weather and the climate.

00:06 It's all due to a study.

00:08 EJ Gomez is a witness.

00:10 The rising sun is not a sign of anything.

00:17 Businessmen or ordinary workers,

00:20 like the riders Albert and Meleso.

00:23 When it's too hot, we stop for a ride.

00:27 When it's not hot anymore, we go back for a ride.

00:31 I can't do it.

00:33 My head hurts.

00:35 I keep on riding.

00:37 We need to.

00:38 We don't have food to eat.

00:43 But it's not only the Filipinos who are affected,

00:47 but also the country's economy.

00:50 Of course, there will be less economic activity.

00:54 They won't go out.

00:57 They won't spend on massages.

01:00 They won't buy.

01:02 They won't eat outside.

01:04 If they have someone to talk to, they'll be able to transact.

01:08 So, those things won't continue.

01:10 There are foregone businesses,

01:14 like sales, earnings.

01:16 That's how the economy feels.

01:18 When you combine it, you combine it.

01:20 In the first instance, the Central Bank of the Philippines, or BSP,

01:25 conducted a study on the long-term effects of temperature shocks

01:30 on the country's output growth and economy,

01:32 as well as on the inflation or increase in the price of goods.

01:37 The study found that with each increase in the average temperature in the Philippines

01:41 of 1 degree Celsius,

01:43 the economy slowed by 0.37 percentage points.

01:48 It's even higher than 0.47 percentage points

01:52 while the effect of the El Nino is felt.

01:55 According to an economist,

01:56 the agriculture sector is the primary affected by the hot weather.

02:01 Even late last year,

02:03 we felt the lack of rainfall and the relatively hot weather

02:09 that reduced the production of agriculture.

02:12 Agriculture still accounts for around 9% of GDP.

02:16 So, it's still tangible, the agriculture's share.

02:20 And agriculture employs close to 25% of total workers.

02:24 And if the production is low,

02:26 the supply will also drop,

02:28 which could lead to an increase in the price of goods

02:32 in the market or in total inflation.

02:35 Aside from agriculture,

02:36 the heating effect on the services sector is also felt.

02:40 They should have a cooling system,

02:41 their workplace should be efficient.

02:43 They will spend more for a cooling system

02:47 so that the workers, employees, clients and customers are comfortable.

02:53 That's what Mark did to his furniture and upholstery shop.

02:58 We buy ice and add ventilation.

03:03 Previously, we only had two fans.

03:07 But since it's so hot,

03:09 we added an industrial fan even if the electricity is a bit high.

03:16 It's good for the workers.

03:18 For GMA Integrated News,

03:20 I'm EJ Gomez, your witness.

03:22 My fellow Filipinos, let's be witnesses together!

03:27 Subscribe to GMA Integrated News on YouTube.

03:30 And for all our fellow Filipinos abroad,

03:32 join us on GMA Pinoy TV and www.gmainews.tv.

03:37 (♪)

Pag-init ng panahon at El Niño, may epekto sa paglago ng ekonomiya, ayon sa discussion paper ng BSP | Saksi

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