The Department of Finance (DOF) reported that so-called ghost flood control projects have caused more than ₱100 billion in economic losses to the Philippines. These projects, which were funded but either unfinished or non-existent, failed to protect communities from flooding, resulting in damaged properties, disrupted businesses, and lost livelihoods.

According to the DOF, the economic impact extends beyond infrastructure damage, as repeated flooding discourages investment and increases government spending on disaster response and recovery. Authorities emphasized the need for stricter monitoring, transparency, and accountability to ensure public funds are used effectively and to prevent further losses to the economy.