economic recovery

Gov’t, not pandemic, caused record deficits and debt – IBON

March 5, 2022

Had the Php5.3 trillion gross borrowings in 2020 and 2021 been spent on ayuda and producer subsidies, and less on infrastructure and debt servicing, economic rebound would have been bigger, revenues would have recovered faster, and there would have been less need for borrowing.

Jobless growth and worst in ASEAN: IBON on PH economic performance in 2021

January 27, 2022

The economic managers are overstating their performance and understating the economy’s problems. This isn’t a good starting point for finding solutions.

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.

June labor force survey confirms economy not recovering despite reopening

August 3, 2021

The latest labor force survey (LFS) shows how far away the economy is from recovering without real fiscal stimulus. Job generation is hollow with a bloating informal sector and huge contraction in full-time work. These will worsen with the looming ECQ which will push millions of Filipinos into deeper economic distress.

Negative econ growth underscores jobs crisis – IBON

May 12, 2021

The first quarter 2021 economic performance is the clearest proof that government hype of employment surpassing pre-pandemic levels are hollow. The quality of work is deteriorating and the number of unemployed is higher compared to a year ago.