Philippine economy - updates

Rappler's latest stories on Philippine economy


[ANALYSIS] Duterte may yet survive the pandemic – at our expense

Jun 01, 2020 - 10:44 AM

Despite serious concerns about relaxing quarantine measures, the government is pushing for a W-shape recovery strategy. The trade-off is clear – economy trumps public health.

After clash, Dominguez offers Economics 101 for Imee Marcos

May 27, 2020 - 4:50 PM

The offer of Finance Secretary Carlos Dominguez III to provide a special briefing comes after he clashed with Senator Imee Marcos over Masagana 99, the failed rice program of dictator Ferdinand Marcos

[OPINION] Good policies, bad execution, worse timing

May 27, 2020 - 12:00 PM

'Let's not rush TRAIN 2/CITIRA/CREATE (or whatever they are calling it now) and make an effort to get it done better compared to TRAIN 1 and rice tariffication'

Prolonged class suspension will put ‘strain on already failing economy’ – group

May 26, 2020 - 10:33 AM

According to Cocopea managing director Joseph Noel Estrada, while public school personnel are guaranteed their salaries even with suspended classes, over half a million private school personnel are not.

PROTECTION. Students at the Araullo High School wear face masks as protection against the novel coronavirus. Photo by Ben Nabong/Rappler

Rappler+ Webinar: Cushioning the coronavirus impact

May 17, 2020 - 5:21 PM

Happening Thursday, May 21, 10 am

[ANALYSIS] Why we can’t Build, Build, Build our way out of this pandemic

May 14, 2020 - 12:55 PM

In this time of crisis, government needs to get its act together and divert all its energies and resources to saving people’s lives

PH economy to contract by up to 3.4%, higher debt seen in 2020

May 13, 2020 - 11:55 AM

Weak growth and higher spending due to the coronavirus crisis are expected to bloat the Philippines' budget deficit for 2020

PH can still be upper-middle income in 2022 despite pandemic – NEDA

May 09, 2020 - 4:11 PM

The coronavirus pandemic is 'just a temporary setback,' says Acting Socioeconomic Planning Secretary Karl Chua

Passengers not affected by the flight ban continue to arrive at the NAIA Terminal 1 in Pasay City on February 3, 2020. Photo by Jire Carreon/Rappler

[ANALYSIS] Rare Philippine recession: Why this one’s unique, even necessary

May 08, 2020 - 12:00 PM

Let’s make this recession and our collective sacrifice count. But that won’t very well happen if government fails to set its priorities right and get its act together fast.

Philippine economy shrinks for first time in 22 years

May 07, 2020 - 10:24 AM

(UPDATED) The Philippines' gross domestic product contracts by 0.2% in the 1st quarter of 2020, with officials and analysts fearing that the worst is yet to come

Workers, who opted to continue working despite the enhanced community quaratine (ECQ), rush making Personal Protective Equipment (PPE) under the program of Philippines' Vice-president Leni Robredo for distribution to frontline workers in different hospitals in the country, at a factory in Taytay town, Rizal province on April 24, 2020. - The World Health Organization (WHO) has described the Philippines' high infection rate of medical staff as "worrisome" as the nation battles the spread of COVID 19. (Photo by Ted ALJIBE / AFP)

Inflation slips to 2.2% in April 2020 as virus freezes economy

May 05, 2020 - 9:07 AM

(3rd UPDATE) The Philippines' inflation slows down as oil prices plunge, while prices of some food items inch up in April

[OPINION] The coronavirus: We need more than a reset button

Apr 28, 2020 - 2:57 PM

'If we go back to the way we were, we will end up exactly in the same situation which created and fueled this pandemic to begin with'

READING. A resident of Quezon City reads a flyer containing useful information to prevent the spread of COVID-19. Oxfam and IDEALS in partnership with the local government of Quezon City distributed flyers in communities affected by the ongoing enhanced community quarantine in Quezon City. Photo by IDEALS

[ANALYSIS] Test, Trace, Treat (not Build, Build, Build)

Apr 28, 2020 - 11:19 AM

'There are more savings that can be had if government abandons its dream of Build, Build, Build. It is a dream not worth chasing at this time.'

[ANALYSIS] Should Duterte lift the lockdown? An imagined debate

Apr 23, 2020 - 10:59 AM

With the COVID-19 pandemic, the stakes are much, much higher. Now is not the time for the capricious, evidence-bereft brand of policymaking Duterte has grown used to and gotten away with.

Philippines banks on infrastructure push to revive economy from virus

Apr 22, 2020 - 12:50 PM

'We will use that (infrastructure projects) as one of the main drivers of our economy.... That is where jobs are created,' says Acting Socioeconomic Planning Secretary Karl Chua

[ANALYSIS] People’s health or economy? It’s a false choice

Apr 14, 2020 - 12:00 PM

Protecting lives protects the economy. That said, the issue of saving the economy remains. Here are some recommendations.

What the Philippine economy could be like after the coronavirus

Apr 09, 2020 - 11:40 AM

Ensuring public health comes with a hefty price tag: job losses, business closures, and a peak in populism

Philippines braces for recession due to coronavirus

Apr 09, 2020 - 11:35 AM

Finance Secretary Carlos Dominguez III sees flat to negative growth in succeeding quarters. BSP Governor Benjamin Diokno calls it 'technical recession.'

RECESSION. Shoppers buy the few remaining stocks of rubbing alcohol and cup noodles as stocks run out at a grocery in BGC. File photo by Jire Carreon/Rappler

Coronavirus triggers lower inflation at 2.5% in March 2020

Apr 07, 2020 - 9:09 AM

(UPDATED) Inflation slows down in March as economic activity grinds to a halt due to the coronavirus pandemic

Farmers trash spoiled vegetables while poor go hungry

Apr 06, 2020 - 5:01 PM

The government plays catch up fixing disrupted supply chains caused by vague lockdown rules

[ANALYSIS] May pera nga ba? Does Duterte have money to fight COVID-19?

Apr 02, 2020 - 1:17 PM

Today we’re enduring two types of crises: one in public health, another in governance

Worst-case scenario: PH economy may contract 0.5%, says World Bank

Mar 31, 2020 - 12:40 PM

A drastic slowdown in domestic consumption, public infrastructure delays, and postponement of private investments due to the coronavirus are seen to drag down growth in 2020

Rappler Talk: How BPOs, human resources are dealing with coronavirus

Mar 28, 2020 - 2:58 PM

Rappler talks to Darwin Rivers, founder and president of Philippines HR Group on the crucial role of human resource management in saving companies and jobs amid the pandemic

[OPINION] We need to lobby for meaningful fiscal stimulus during the pandemic

Mar 27, 2020 - 3:19 PM

'The reality that we must face is that the measures we are taking to prevent the spread of the virus will hurt the economy more than the virus itself'

[ANALYSIS] ‘Freezing’ the PH economy: Can we survive it?

Mar 26, 2020 - 11:59 AM

With billions of additional funds soon at Duterte’s disposal – and a spotty track record of transparency and accountability – we should all watch the money trail closer than ever

Rappler Talk: Coronavirus and the economy

Mar 25, 2020 - 4:20 PM

Rappler talks to Nicholas Mapa, ING Bank Manila's senior economist, on where the government should pump cash and what life after the coronavirus could be like

Rappler Talk: Saving the economy from a pandemic

Mar 23, 2020 - 10:00 AM

Rappler talks to Alfredo Paloyo, senior lecturer at the University of Wollongong in Australia, on what the Philippine government should do to protect the poor and save the economy from the coronavirus pandemic

Economists to gov't: Spend P300 billion or more vs coronavirus

Mar 23, 2020 - 9:30 AM

Filipino economists recommend cash aid, food and non-food vouchers, and paid leaves to save lives and the economy

[OPINION] With the coronavirus crisis, it's business unusual

Mar 13, 2020 - 1:41 PM

'Allow the scare to go on long enough and only the businesses with adequate capital and little debt will be able to see the end of the tunnel'

Philippines to borrow more than planned to combat coronavirus impact

Mar 11, 2020 - 10:25 AM

As lower revenue collection is seen due to the spreading novel coronavirus, the Philippines' budget deficit may hit as high as 3.6%

[ANALYSIS] How the budget deficit exploded under Duterte’s watch

Mar 05, 2020 - 1:16 PM

Allowing the deficit to blow up to 6.8% last quarter does not reflect well on fiscal managers and suggests fiscal irresponsibility and mismanagement

Inflation slows down to 2.6% in February 2020

Mar 05, 2020 - 9:06 AM

(3rd UPDATE) Transport and utility costs in the Philippines go down, as the novel coronavirus places downward pressure on global crude oil prices

'A mess': Coronavirus economic impact on Philippines worse than projected

Mar 03, 2020 - 3:00 PM

The Philippines' economic managers see lower tax collections and reduced Chinese imports due to the spread of the virus

People buying protective masks at a medical supplies store in Manila on January 31, 2020. - The Philippines reported its first case of the virus on January 30, of a 38-year-old woman who arrived from Wuhan and is no longer showing symptoms. (Photo by Ted ALJIBE / AFP)

Makati Business Club: 'Strong' U.S. ties important for PH economy, security

Feb 21, 2020 - 4:59 PM

The Makati Business Club expresses concern over the termination of the Visiting Forces Agreement with the United States, saying it may 'affect other security agreements'

ALLIES NO MORE? The Philippine and US flags during the opening ceremony of the yearly Balikatan joint military exercises in April 2016. File photo by Ted Aljibe/AFP

Despite political risks, Fitch Ratings raises outlook for Philippines

Feb 11, 2020 - 9:00 PM

Fitch Ratings says the Duterte administration's review of allegedly onerous contracts may create some uncertainty, but will not affect the overall business environment and foreign investments

To boost economy, Bangko Sentral cuts interest rates by 25 basis points

Feb 06, 2020 - 8:20 PM

Amid the global economic slowdown and the novel coronavirus spooking markets, the Philippines' central bank aims to shore up the economy by trimming interest rates

[ANALYSIS] Will novel coronavirus also infect the Philippine economy?

Feb 05, 2020 - 10:35 AM

In this uber-globalized world, we have to accept that when China sneezes we will all likely catch a cold. But how can we minimize the risk?

Inflation inches up to 2.9% in January 2020

Feb 05, 2020 - 9:02 AM

(UPDATED) Inflation picks up in January, but remains within the Philippine government's target range

[ANALYSIS] Why did Philippine growth drop to an 8-year low?

Jan 31, 2020 - 11:56 AM

Why is there disappointing growth, given the country's potential? Let's talk about lower investments and the weakening of industry.

Finance team says PH economy 'can handle' coronavirus effects

Jan 30, 2020 - 9:35 PM

Philippine officials do not see the novel coronavirus putting a major dent in the economy

MINIMAL ECONOMIC EFFECT. Chinese nationals arriving from Guangzhou, China are seen wearing face mask at the arrival area of Ninoy Aquino International Airport Terminal 1 in Pasay City. File photo by Ben Nabong/Rappler

Philippines misses GDP growth target for 2019

Jan 23, 2020 - 10:00 AM

(UPDATED) GDP growth picks up in the 4th quarter of 2019, but the impact of the budget impasse proves to be too much as the overall target is not met

[ANALYSIS] The economic lies in ‘Duterte Legacy’

Jan 22, 2020 - 12:03 PM

Ranking officials of the Duterte government will do well to know a memorable quote in HBO’s Chernobyl: 'Every lie we tell incurs a debt to the truth. Sooner or later that debt is paid'

Inflation jumps to 2.5% in December, overall 2019 figure within target

Jan 07, 2020 - 9:07 AM

(UPDATED) Transportation expenses go up, but low rice prices keep inflation within target in December 2019

[ANALYSIS] 2020s: Can we sustain the stellar growth of the 2010s?

Jan 03, 2020 - 11:14 AM

There’s a lot to be thankful for in the 2010s when more Filipinos became more prosperous and healthy, so much so that the 2010s might be considered our economy’s true 'golden age.'

[OPINION] Paul Volcker and the triumph of integrity

Dec 21, 2019 - 10:00 AM

The late Paul Volcker was a hero for saving the Philippine peso during the worst economic crisis of the 1980s

Hot money net outflows hit $345 million in November 2019

Dec 19, 2019 - 8:05 PM

Foreign portfolio investments for November yield net outflows as a result of $1.5 billion fleeing, mainly from the United States

[OPINION] P10,727 a month? Why numerical estimates shouldn't be taken that seriously

Dec 14, 2019 - 3:14 PM

Can an average Filipino family of 5 really survive on P10,727 per month?

Inflation inches up to 1.3% in November 2019

Dec 05, 2019 - 9:03 AM

(UPDATED) Inflation jumps in November, as expected by analysts

[ANALYSIS | Point of Law] A correct move for our stock market?

Nov 18, 2019 - 8:27 PM

The proposed Passive Income and Financial Intermediary Taxation Act appears unsound, and Congress may want to rethink it before it's too late

[ANALYSIS] Is the Philippine economy in the pink again? Not exactly

Nov 08, 2019 - 6:50 PM

Latest data betray troubling trends in the economy that soon need to be addressed