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The government will prioritize the speed-up reconstruction and support the economic recovery in Luzon as part of the rehabilitation efforts to areas heavily devastated by the recent typhoons.

This was told on Monday by the government’s economic managers to the local business community here during the Philippine economic briefing on post-disaster rehabilitation at the Clark Holiday Inn Hotel here.

Finance Secretary Margarito B. Teves, who is chairman of the Special National Public Reconstruction Commission, said that part of the government’s rehabilitation efforts are concentrating of the rebuilding of physical infrastructure, enhancing access to social services such as medical care and education and helping the small and medium enterprises (SMEs), the backbone of local economies.

“We are also taking longer-term measures to enhance the region’s flood prevention mechanisms and resilience to climate-related challenges,” Teves said.

He said it is the priority of the government to bring normalcy back to the lives of the people in the region and ensure their economies recovery as quickly as possible.

“We hope to emerge victorious despite the recent typhoons, the Finance secretary said, adding that the government is working with various entities such as the local government units (LGUs), government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs).

Based on the National Disaster Coordinating Council (NDCC) estimates, the cost of damages by "Ondoy" to agriculture in the region was at P9.579 billion, the highest among all the regions.

The cost of damages to infrastructure was registered at P2.767 billion, the second highest among all the regions in the country. - PNA

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