Wala Lang A country’s economic performance is normally expressed as the value of goods and services produced during the year, and growth rate by comparing that figure with that of the preceding year. Those figures, known as Gross Domestic Product (GDP), are measured either as (a) the total value...
Now that former President Benigno Aquino III is gone, Vice President Leni Robredo on Sunday, June 27, said his friends and supporters are now “obligated” to tell the truth about his accomplishments. Vice President Leni Robredo and her two daughters—Aika and Tricia—attend the final funeral...
The contribution of the tourism industry to the country's economy plunged by a whopping 61.2 percent in 2020 amid the ongoing global pandemic, the Department of Tourism (DOT) revealed. Boracay Island when it reopened to domestic tourists in October 2020. (Photo by Tara Yap) Citing a recent report...
The National Economic and Development Authority (NEDA) said the gradual lifting of quarantine restrictions and continuous vaccination rollout will help the economy recover and return to pre-pandemic levels by next year. Socioeconomic Planning Secretary Karl Kendrick T. Chua said on Tuesday, June...
Sun Life Asset Management Co., Inc. said the Philippine economy may need two years before returning to its pre-pandemic levels owing to uncontrolled coronavirus infections and anemic household consumption. Screen Shot 2021-05-27 at 3.14.47 PM Michael Gerard D. Enriquez, Sun Life Asset Management...
The Philippines is the “clear laggard” in Asia, Moody’s Analytics declared, noting that its economy will likely return to its pre-pandemic levels only by the end of next year. Decentralized health advice alongside the sluggish COVID-19 vaccine rollout is denting the nation’s recovery, an...
The country’s recovery is not out of the woods just yet as risks posed by the coronavirus continue to threaten recent gains, the Department of Finance (DOF) said. In its latest economic bulletin on Friday, May 14, the DOF said that the pace of economic contraction in the first three-months of the...
The Asian Development Bank (ADB) has substantially slashed its economic growth forecast for the Philippines due to “considerable uncertainty” over the coronavirus pandemic. In the latest Asian Development Outlook 2021 released on Wednesday, April 28, the Manila-based multilateral institution...
Fitch Ratings has lowered its GDP growth forecast for the Philippines to 6.3 percent this year from its previous estimate of 6.9 percent as it sees a tempered recovery due to limited fiscal space. However based on its latest “APAC Sovereign Credit Overview” for the second quarter, Fitch expects...
The government is not yet abandoning its growth target for the year as the National Economic and Development Authority (NEDA) believes there is still time to recover the losses incurred from recent lockdowns. Socioeconomic Planning Secretary Karl Kendrick T. Chua said on Monday, April 26 that any...
The recovery of the Philippines from the pandemic hinges on the pace of coronavirus vaccinations as efforts to reopen the economy have been undermined by the surge in new infections, the Asian Development Bank (ADB) said. Kelly Bird, ADB country director for the Philippines said on Wednesday, April...
While deemed as one of the Philippines’ economic drivers during the COVID-19 pandemic, the agriculture sector is also at risk of having its national budget allocation reduced due to fiscal adjustments post COVID. Ibit Integrated Farm is a five-hectare land in San Fernando, La Union that has been...
