economic growth

8.3% in Q1-2022 the end of high GDP growth rates

May 12, 2022

While economic growth in the first quarter of 2022 is welcome, this is mainly driven by base effects and election-related spending. Growth is also weak and unsustainable considering the unfavorable jobs market. Things could be even worse depending on how the volatile global economy plays out. This will likely be the last relatively high growth reported, and the next administration will have to make do with weaker growth performance.

10 things about the economy that the Duterte administration should admit

April 4, 2022

At its economic briefing, the Duterte government will likely hype growth, claim successful COVID response and play up so-called reforms. All this seeks to distract from how social and economic development has been set back by the administration even before the pandemic.

Slackening growth

November 11, 2021

Slowing growth is a sign of a floundering economy

Jobless, sluggish growth persists contrary to gov’t hype — IBON

November 10, 2021

Economic managers shouldn’t celebrate too soon over seemingly positive third quarter growth as more and more Filipinos lose jobs and increasingly make do with informal work. Economic growth is also still slowing with many sectors years from recovery.

Job losses despite quarantine easing may be early sign of economic contraction – IBON

November 5, 2021

The Duterte administration should not be dismissive of the significant drop in employment and rise in unemployment in September 2021. These are signs that the economy is still floundering despite quarantine restrictions easing and vaccinations increasing.

Who is afraid of degrowth?
A Global South economic perspective

October 12, 2021

Environmental scientists, economists, academics and social movements have been talking about “degrowth” as an approach in dealing with the climate crisis. The concept makes perfect sense, but it has provoked doubts and objections, even among well-meaning environmentalists.

Govt’s 7-9% growth in 2022 is just a fantasy – IBON

August 26, 2021

The Development Budget Coordination Committee has had a poor record of projecting economic growth in the last five years with their estimates always off the mark. Worse, their narrow-minded fiscal conservatism is the biggest factor preventing more rapid recovery.

2022 budget stalls recovery, worsens inequality

August 23, 2021

Government’s proposed 2022 national budget is the second budget in a row that fails to respond to the pandemic. The Duterte administration is not spending enough on economic stimulus, health, ayuda, and small businesses which are the most important things to recover quickly and stop worsening deprivation. The economic managers’ misguided fiscal conservatism is counterproductive and needs urgent correction.

Q2 rebound isn’t recovery, will fade without real stimulus – IBON

August 10, 2021

NEWS

The positive second quarter growth in gross domestic product is only a rebound from the record economic collapse in the same period last year. It is not a sign of recovery gaining traction.