ISSUES 1.REPORTING Limited damage assessment i.e. a) casualties; b) damage to agri; and c) infra damages Not all private business losses are reported Limited report on production capacity losses and labor displacement

ISSUES Reflecting losses on GDP accounts will not be realistic At present, we deduct the agricultural damages to the projected harvest

ISSUES 2.VALUATION Over estimation of losses Inconsistencies i.e. construction cost or replacement cost? No accurate data on economic value of goods and services utilizing certain infrastructure like bridges

ISSUES Difficulty in putting values on certain goods and services like hospitals, water supply Inflation may be offset by imports and domestic trading

ISSUES 3.COUNTER EFFECT OF RESPONSE TO GDP AND GNP Difficulty in attributing the effects, i.e. lost forex from exports firms but OFW remittance may increase offsetting impact Production losses may be offset by disaster response like public works and emergency employment schemes

ISSUES 4.COMPUTER MODEL A computer model may be needed to a) Calculate with a higher level of accuracy the impacts b) Simulate future socio-economic impact of disasters This will enable policy makers to decide on preparedness and mitigation measures