economic stimulus

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.

Government not underspending? Budgeted too little, didn’t even spend it all

July 25, 2021

The Development Budget Coordinating Committee said that a total of Php665.7 billion has so far been released for the Duterte administration’s government’s COVID-19 response. This is however insufficient for such a huge national emergency. Worse, large amounts have not even been spent as of June.

Strong fiscal stimulus? Below average spending worsens in 2021, 2022

July 25, 2021

In the name of credit-worthiness, the Duterte administration increased its spending by only a bit, which is not at all commensurate to the enormity of the crisis at hand.

Helped Filipinos? Too few helped, too little given

July 25, 2021

The people’s and nation’s needs amid a public health emergency and economic crisis are huge, but government help stayed stingy while spending big on infrastructure, the military and debt-servicing.

Ayuda urgent as jobs crisis worsens from govt’s failed lockdowns, response

June 10, 2021

Latest labor force data confirm that the jobs situation is still much worse than before the pandemic. Government’s over-reliance on destructive lockdowns to contain the coronavirus is ineffective and only causes unnecessary economic distress for tens of millions of Filipinos. At the very least, immediately providing substantial ayuda grows more urgent by the day.