The World Bank said the quality of jobs, particularly for Filipino youth, remained a concern in the country despite strong rebound of the economy from the prolonged pandemic. In a report released on Wednesday, March 22, the Washington-based multilateral institution said that over 60 percent of the...
The World Bank has granted a fresh P32.7-billion loan to the Philippines to boost the country’s resiliency and sustainability of its financial sector as well as strengthen economic recovery from the pandemic. In a statement on Tuesday, Jan. 31, the Washington-based lender said its approved the...
Given suboptimal performance and persisting inequitable access, the Philippine education system needs swift action to address the current education crisis, state think tank Philippine Institute for Development Studies (PIDS) emphasized. A study “Philippine Education: Situationer, Challenges, and...
Officials of the Bureau of Customs Project Management Unit (BOC-PMU) met with representatives of the World Bank and discussed matters to further improve the services especially at the Manila International Container Port (MICP). In a statement, the BOC said World Bank representatives led by...
Two development partners of the Philippines and a US-based think tank have recommended the establishment of a sovereign wealth fund (SWF), the Department of Budget and Management (DBM) said. Budget Secretary Amenah F. Pangandaman said the Asian Development Bank (ADB), the International Monetary...
Citizen Watch, an independent network of advocates seeking to raise the interests of the public, said in order to “embrace digitalization,” the country needs to boost its digital infrastructure and at the same time upgrade the digital skills of Filipinos. (Unsplash) For Citizen Watch...
The Department of Agriculture (DA) has welcomed the suggestions of the World Bank’s Philippines Economic Update (PEU) December 2022 Edition that centers in increasing the efficiency and effectiveness of government spending in the sector of agriculture. FARMERS in Western Visayas region are urged...
The Philippines should strengthen some fundamental concerns and address key constraints to arrest the country’s inability to capture trade and investment opportunities and compete with the rest of the ASEAN region, according to a senior World Bank economist. Jaime Frias, World Bank senior...
The World Bank raised its gross domestic product (GDP) outlook for the Philippines to 7.2 percent this year from an earlier projection of 6.5 percent in September. The Washington-based multilateral institution said Tuesday, Dec. 6, that the upward revision was driven by “robust domestic...
Income inequality in the Philippines remained one of the highest rates in East Asia despite important gains in poverty reduction following recent strong economic performance and improving access to employment, the World Bank reported. In a World Bank report titled “Overcoming Poverty and...
The Department of Environment and Natural Resources (DENR) is set to start the accounting and mapping of the Philippine's natural resources as part of the efforts to come up with a reliable and accessible localized data in the country's fight against climate change. DENR Secretary Maria Antonia...
Climate change in the Philippines will continue and accelerate, which poses major risks for the nation’s long-term development, the World Bank warned. Based on the World Bank’s report on Wednesday, Nov. 9, climate change could hamper the country’s ambition of becoming a high-income country by...
