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‘FLOOD CONTROL CRISIS MAY FORTIFY ECONOMY’ www.businessmirror.com.ph
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Monday, October 20, 2025 Vol. 21 No. 12
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Andrea E. San Juan @andreasanjuan
ETBACKS caused by corruption allegations hounding flood control projects and other public infrastructure projects are temporary and will not derail the Philippines’s bid to achieve higher growth, according to the country’s socioeconomic planning chief. Department of Economy, Planning and Development (DepDev) Secretary Arsenio M. Balisacan said implementing reforms that will prevent future abuses will even bolster the country’s economy. “We believe that the setbacks are very temporary. I like that this happened because then we can do
something about these issues so that the medium-term and longterm prospects of the economy will be even stronger,” Balisacan told reporters on the sidelines of the EU-Philippines Business Dialogue last Thursday in Makati City. As corruption is now being See “Flood,” A2
BALIKBAYANS HELP STEADY PHL TOURISM AMID VISITOR SLUMP By Ma. Stella F. Arnaldo Special to the BusinessMirror
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NTERNATIONAL travelers to the Philippines continued to slip in the nine months to September this year, although balikbayans (homecoming Filipinos) helped cushion the arrivals from a bigger fall. Data from the Department of Tourism (DOT) showed 4.3 million foreign nationals arrived from January to September 2025, some 2.4 percent less than the same period last year. Of total arrivals, there were only 3.9 million foreign nationals,
3.5 percent less than last year’s 4.08 million, while overseas Filipinos reached 392,317, up 10.3 percent from the same period last year. Overseas Filipinos are defined as Philippine passport holders permanently residing abroad. This developed as the DOT welcomed the rollout of the electronic visa (e-visa) scheme for Chinese nationals starting in November. In a news statement, Tourism Secretary Christina Garcia Frasco said, “This development is… both necessary and overdue. The See “Balikbayans,” A2
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LENIE LECTURA BusinessMirror Energy Reporter
DOCK AND COVER Fishermen park their outriggers at the seaport in Barangay Tanza, Navotas, on Sunday, October 19, 2025, as Tropical Storm Ramil—the Philippines’s 18th tropical cyclone this year—brings strong winds and heavy rains over much of Luzon and the Visayas. PAGASA has urged the public to stay alert for possible flooding, landslides, and storm surges. NONOY LACZA
Farm damage due to typhoons hit ₧7.7B—DA By Ada Pelonia
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@adapelonia
HE agricultural damage caused by recent typhoons and the southwest monsoon soared to over P7 billion, the Department of Agriculture (DA) said. In its final report on the damage inflicted by the combined effects of the southwest monsoon and typhoons Mirasol, Nando, and Opong, the DA noted that the losses incurred by 268,077 farmers and fisherfolk have reached P7.71 billion. The agency noted that the volume of production damage across 13 regions reached 472,701 metric tons (MT). Rice sustained the majority of the damage at 354,831 MT. Also
destroyed were high-value crops (72,699 MT), corn (44,725 MT), and cassava (372 MT). The report indicated the value of production losses amounted to P4.87 billion for rice; P1.96 billion, high-value crops; P655.45 million, corn; P76.98 million, livestock and poultry; P47.73 million, fisheries and aquatic resources; and P13.81 million, cassava. Damages to irrigation facilities, agriculture infrastructure and farm equipment were valued at P45.15 million, P30.58 million, and P1.76 million, respectively. The DA said 205,016 hectares of agricultural lands were affected by the storms and habagat. Of these, 173,299 hectares have a chance to recover.
The agency said it has allocated P1 billion in agricultural inputs, including rice, corn, and vegetable seeds, to help those affected by typhoons. Drugs and biologics for livestock and fish stocks from its regional field offices were also included. The DA noted that it offers loans of up to P25,000 through the Survival and Recovery loan program of the Agricultural Credit Policy Council (ACPC). These loans come with a three-year repayment term, interest-free. It also said that an amount of P786.9 million for the indemnification for 86,959 insured affected farmers and fisherfolk would also be released through the Philippine Crop Insurance Corp. (PCIC).
Earlier, the DA scaled back its palay output forecast this year to 20.3 million metric tons (MMT) on the back of torrential downpours. This is lower than its initial projection of 20.45 MMT. The agency also noted that erratic weather patterns could further push down expected paddy rice output in 2025 to as low as 20.09 MMT. If realized, however, the projected range would still be higher than the record 20.06 MMT in 2023. Despite such adjustment, the DA said it remains hopeful following the all-time high output of 9.08 MMT in the first semester. Historically, the second half of the year accounts for over 55 percent of total rice production.
PESO EXCHANGE RATES n US 58.0850 n JAPAN 0.3863 n UK 78.0662 n HK 7.4752 n CHINA 8.1546 n SINGAPORE 44.9088 n AUSTRALIA 37.6681 n EU 67.9014 n KOREA 0.0410 n SAUDI ARABIA 15.4877 Source: BSP (October 17, 2025)