November 23, 2022
The finance secretary’s recent trumpeting of rapid growth is hype, and in reality the economy and the conditions of ordinary Filipinos have barely even returned to pre-pandemic levels.
August 11, 2022
Contrary to the new economic team’s hype, research group IBON said that the quarter-on-quarter contraction of the economy in the second quarter of 2022 shows that recovery remains weak and requires more determined government action. IBON said that reopening the economy is not enough because too many Filipinos are still jobless, earn too little, and […]
June 15, 2022
The next administration’s economic agenda will be fully presented at the state of the nation address in July. There are hardly any specifics yet. Still, the tidbits already emerging can be interpreted against the incoming economic team members’ individual track record and especially in the context of the long arc of neoliberal thinking that has defined Philippine policymaking over the last half century.
June 13, 2022
The government hypes the Duterte legacy but comparing growth, jobs, inflation, trade and debt figures with other Southeast Asian countries shows the Philippine economy as among the poorest performers. This is due not only to its poor COVID response, harsh lockdowns and refusal of economic stimulus but to pre-pandemic mispriorities.
May 27, 2022
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.
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.
November 11, 2021
Slowing growth is a sign of a floundering economy
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.