Philippine economy
Is it time to move on?
The resiliency myth
June 29, 2022
The Philippines recently ranked as one of the five worst places to be as the ripples of COVID-19 continue. This is contrary to the outgoing Duterte administration’s repeatedly built narrative – that it did well on the pandemic and is leaving behind an economy that is on a quick rebound.
No Mavericks Among Economic Top Guns
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.
PH among worst performers in Southeast Asia
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.
1.3M jobs lost: Fall in number of employed bursts full recovery hype bubble
June 11, 2022
The incoming finance secretary claims that the economy is on its way to full recovery, but the over one million drop in employed persons in April 2022 proves otherwise.
PH isn’t Sri Lanka… yet
May 25, 2022
The Philippines isn’t going the way of Sri Lanka yet in defaulting on its foreign debt payments anytime soon. Which is not to say that there are no lessons to be learned from the first canary to die in the coal mine of growing global debt distress.
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.
Million increase in underemployed: Economy still not creating enough decent work
May 6, 2022
NEWS
Government should not be complacent following the reported increase in employment, considering the spike in underemployment and in part-time work. Many Filipinos are still struggling to make ends meet and the economy is still weak despite reopening.
Inflation makes NCR family living wage rise to Php1,087
May 5, 2022
The NCR minimum wage is falling even further behind the FLW and a meaningful increase is more urgent than ever for genuinely inclusive recovery.
