IBON Foundation
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.
NCR family living wage as of February 2023
March 10, 2023
The tiny decline of headline inflation to 8.6% in February 2023 is statistically insignificant and the highest inflation in 14 years is still eating away at the unchanged minimum wage. It’s even worse for the poorest 30% of the population who are battling 9.7% inflation which is the same as in January and the highest […]
1.8-million loss in full-time jobs dispels gov’t claim of recovery, robust jobs market – IBON
March 10, 2023
The jobs crisis is worsening despite the economy reopening. Sugarcoating only hides the problem and prevents urgent action to help millions of Filipinos struggling to make ends meet.
Foreign investment hasn’t done much to develop the Philippine economy
March 6, 2023
Foreign investment can play a role in development but, clearly, not under the free market-oriented policy framework the government has been insisting on since the Marcos dictatorship.
