IBON Foundation
Millions of Filipinos still poor despite foreign investments
March 23, 2023
Some politicians claim that more FDI after charter change will reduce poverty. However, poverty has stayed high over the years of increasing FDI.
Unemployment worsened even with more foreign investment
March 23, 2023
Proponents of charter change insist that more FDI from changing the Constitution’s economic provisions will create job opportunities and decrease unemployment. Has unemployment decreased as FDI increased?
Job creation weakened despite rapid FDI growth
March 23, 2023
One of the key arguments of charter change proponents is that liberalizing the economy to FDI will create more jobs. But job creation has actually weakened even as foreign direct investment inflows increased.
Trade deficit worsened as FDI increased
March 23, 2023
In the absence of Filipino industrialization, FDI dominates domestic manufacturing. Foreign manufacturers and foreign investors in general have very low local content and their import-intensive operations are fueling the country’s trade deficit. This has widened over the years reaching a record US$43.5 billion in 2018.
Agriculture weakened despite capital inflows in sector
March 23, 2023
Charter change advocates in Congress claim changing the constitution to favor foreign direct investment (FDI) will develop the economy. Yet while foreign capital poured into the agriculture, forestry and fisheries sector over the years, its share in the economy has plunged.
The Filipino People’s Water Code
March 23, 2023
Water is life. More than anything else, people need water to physically survive. Further, people need water for a better quality of life – for sanitation, for food production, for production of basic needs, for leisure, and more. The Philippines has abundant water resources, much more than Thailand, China, or India. Access to potable water […]
Cha-cha of economic provisions a smokescreen for political agenda – IBON
March 14, 2023
Rewriting the Charter’s supposedly restrictive economic provisions is just a smokescreen for the self-serving political agenda of the Marcos family and of legislators. Changing the economic provisions will not develop the economy.
Falling wages, more expensive food (February 2023)
March 10, 2023
A decrease in inflation doesn’t mean that prices are going down — only that prices aren’t going up as fast as before. Even if inflation declined slightly in February to 8.6%, the real value of the NCR minimum wage keeps falling as the price of food and other basic goods and services keeps going up.
Minimum wage vs family living wage per region as of February 2023
March 10, 2023
Inflation in areas outside NCR has gone down slightly to 8.5% in February. Yet, with minimum wages unchanged, the gap with the family living wage is still widening across the regions — with the worst shortfall in BARMM where the minimum wage is just 17.5% of the family living wage.
