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Typhoons cause damage to agriculture, deepens Philippine's rice shortage

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Typhoons cause damage to agriculture, deepens Philippine's rice shortage

2024-11-19 20:13 Last Updated At:20:57

Successive typhoons have battered the Philippines, devastating rice fields and deepening the country's rice shortage.

In less than a month, six typhoons hit the country, leaving catastrophic devastation. In early October, Tropical Storm Trami and Typhoon Kong-rey triggered deadly floods and landslides, claiming 162 lives. Typhoons Yinxing, Toraji and Usagi followed, wreaking havoc across provinces. And last Sunday, millions were forced to evacuate as Super Typhoon Man-yi unleashed powerful winds and massive tidal surges, compounding the crisis for already struggling communities.

Aside from the damage to infrastructure, the agriculture sector suffered the most.

In the town of Famy in Laguna province, which is three hours away from capital Manila, farmers have lost their livelihood just days away from harvest when a string of powerful typhoons hit, leaving crops waterlogged and in many areas completely destroyed. They now face a devastating loss not only of their harvest but also their income, casting a shadow of uncertainty in the months ahead.

Ericson Matalog was set to harvest around 200 sacks of rice from his two-hectare field. But heavy rains and strong winds from recent typhoons left his farmland flooded, destroying his crop.

"I can't salvage anything here because the grains have rotted and it pains me. I can't even use them as animal feed because all of them are rotten," said the rice farmer.

The Philippine government has pledged support for affected farmers. The agriculture department is rolling out financial aid. The extensive damage to farmland has deepened the country's rice shortage.

Philippine President Ferdinand Marcos Jr. said on Friday that the government will have to import around 4.5 million tons of rice to suffice the needs of Filipinos.

The recent series of typhoons have intensified pressure on the Philippines' representatives at the UN Climate Conference in Baku, Azerbaijan (COP29 Baku). Environmentalists and civil society groups at COP29 are calling for an immediate release and expansion of the Loss and Damage Fund to support vulnerable nations grappling with the climate emergency.

"We need money and we are owed that money because those guys out there from developed countries, they polluted the planet and they are doing everything they can to not give us the money that we need, not to survive these next couple of weeks or these past few weeks rather but to survive whatever comes next," said John Leo Algo, national coordinator of Aksyon Klima Pilipinas, a civil society network for climate action.

On the sidelines of the climate conference, the Philippines formalized its hosting of the board of the Fund for responding to Loss and Damage by signing the Host Country Agreement. The environment ministry said the country could serve as a test case for the fund, which aids communities in recovering from the climate crisis.

Typhoons cause damage to agriculture, deepens Philippine's rice shortage

Typhoons cause damage to agriculture, deepens Philippine's rice shortage

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China's fiscal revenue up 5.5 pct in Oct

2024-11-19 20:00 Last Updated At:20:07

China's fiscal revenue increased 5.5 percent year on year in October, data from the Ministry of Finance showed Monday.

From January to October, the total revenue in national general public budget reached 18.4981 trillion yuan (about 2.55 trillion U.S. dollars), maintaining stable growth after excluding the impact of special factors.

"In October, the fiscal revenue showed positive changes, especially in tax revenue. The tax revenue edged up 1.8 percent from a year earlier, the first rise since this year," said Yang Zhiyong, head of the Chinese Academy of Fiscal Sciences.

In the first ten months, the central government collected about 8.25 trillion yuan (about 1.15 trillion U.S. dollars) in fiscal revenue, down 3.9 percent year on year, while local governments collected around 10.25 trillion yuan, up 0.9 percent, according to the ministry.

"The fiscal situation is a result of economic operation. On the whole, the growth of both the tax revenue and sales of land-use rights picked up year over year from January to October, reflecting that our economic operation is stabilizing," said Luo Zhiheng, chief economist of Yuekai Securities.

The country's fiscal expenditure expanded 2.7 percent year on year in the first ten months.

Specifically, the central government's fiscal expenditure rose 7.9 percent year on year, compared to a 1.8 percent increase in expenditure by local governments, according to the data.

From January to October, the expenditure in national general public budget stood at 22.1465 trillion yuan(about 3.06 trillion U.S. dollars). In break down, the expenditure in social security and employment rose by 5.1 percent; agriculture, forestry and water resources up by 10.4 percent, urban and rural communities up by 6.6 percent, and housing support system up by 2.5 percent.

"The general public budget expenditure registered fast recovery year on year. This reflects our fiscal policy’s positive counter-cyclical adjustment function. As for the expenditure structure, it mainly focuses on areas of ensuring people's livelihoods and shoring up weak spots," said Luo.

China's fiscal revenue up 5.5 pct in Oct

China's fiscal revenue up 5.5 pct in Oct

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