national accounts of the philippines

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.

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.

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.

IBON Executive Director on Q2 2021 economic growth and urgent need for ayuda

August 10, 2021

[QUOTE] The 11.8% growth figures come at the worst possible time. The economic managers will use this to justify their narrow-minded opposition to a real fiscal stimulus. Yet putting more money in the hands of millions of poor and vulnerable Filipinos is extremely effective to fix the economic damage from the ill-conceived over-reliance on lockdowns to contain the pandemic.

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.

Expansionary fiscal stance more urgent than ever

January 28, 2021

The economy is not just hindered by quarantine restrictions. It is also stifled by the unprecedented loss of informal sector livelihoods and enterprise closures which has contracted household incomes, wiped out savings, and collapsed aggregate demand. These have to be directly addressed.

Duterte gov’t to blame for worst economic collapse in PH history

August 6, 2020

STATEMENT

The Duterte administration is to blame for the worst economic collapse in the country’s recorded history. Growth rate falling to -16.5% in the second quarter from 5.4% in the same period last year is an unprecedented 21.9 percentage point drop.

Falling budget for PH agri, land reform

August 18, 2018

Read more: Crisis of PH agriculture drives high inflation, economic slowdown