Tag: Philippine economy
2022 budget stalls recovery, worsens inequality
Agosto 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.
Ayuda urgently needed to mitigate worsening poverty
Agosto 21, 2021
The government has just announced the transition from ECQ to modified ECQ so the economy can supposedly recover. But the Duterte administration’s over-reliance on destructive lockdowns without effective and substantial health and economic response, like much-needed ayuda, is what’s really worsening the crisis and pushing more Filipinos into poverty.
June labor force survey confirms economy not recovering despite reopening
Agosto 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.
Dutertegarchs in politics
Hulyo 27, 2021
[INFOGRAPHIC] Old and new oligarchs benefiting from the Duterte administration’s economic policies are not coincidentally very much involved in Philippine politics
Government not underspending? Budgeted too little, didn’t even spend it all
Hulyo 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
Hulyo 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.
Strong economy? Worst job creation in 6 administrations of post-Marcos era
Hulyo 25, 2021
“Strong economic fundamentals” claims questionable given stats on weakest job generation post-Marcos era
Strong economy? Among worst unemployment in Asia pre-pandemic
Hulyo 25, 2021
The Philippines was dubbed as among “Asia’s 10 fastest growing economies” in 2017 and 5th in the “Most Competitive Economies” list by the World Economic Fund in 2018. But growth and competitiveness for what?
