Philippine economy - updates

Rappler's latest stories on Philippine economy


[ANALYSIS] How ABS-CBN’s exit will hurt the PH economy

Jul 13, 2020 - 1:17 PM

It will seem our laws and regulations can be easily weaponized against certain business interests, at the President’s whim

In Duterte's 4th year, COVID-19 causes highest unemployment on record

Jul 07, 2020 - 3:00 PM

The last quarter of 2019 saw the lowest unemployment and underemployment rates in 14 years. But the pandemic brought unemployment to unprecedented levels.

Relaxed coronavirus rules push inflation up to 2.5% in June 2020

Jul 07, 2020 - 9:05 AM

(UPDATED) As the economy reopens with limited transportation options and physical distancing rules in place, tricycle fares soar in June

PCC raises alarm over proposed state-backed ARISE Inc

Jul 06, 2020 - 5:55 PM

ARISE Inc would save distressed businesses by infusing them with equity and exempting them from procurement and competition laws. But this may lead to abuses, warns the Philippine Competition Commission.

A general view of the skyline in Manila taken around 11:00 am shows clear skies on May 15, 2020, as Typhoon Vongfong is expected to brush past the capital city. - Typhoon Vongfong flattened flimsy coastal homes when it roared ashore on central Samar island on May 14, but then weakened into a severe tropical storm on its path north to the capital Manila. (Photo by Ted ALJIBE / AFP)

[ANALYSIS] Return to a bleak, not better normal

Jul 02, 2020 - 10:57 AM

'Alas, with the Rappler cases and ABS-CBN shutdown, made emphatic with the passage of a draconian anti-terror law amid still rising COVID-19 cases, the Duterte administration’s bait for investors is laced with poison'

Coronavirus drives Philippines toward recession as Duterte's 4th year ends

Jun 29, 2020 - 5:30 PM

The Philippines misses its full-year growth rate target for 2019 despite performing well in the 2nd half. Then the coronavirus causes a deep plunge.

Coronavirus crash: Pandemic pushes stock market down in Duterte's 4th year

Jun 29, 2020 - 2:30 PM

After the Philippine Stock Exchange index slumped to an 8-year low due to the COVID-19 pandemic, will the Duterte administration see the local equity market go back to its pre-coronavirus levels?

Inflation rate stays low despite coronavirus in Duterte's 4th year

Jun 29, 2020 - 11:30 AM

The COVID-19 outbreak upends both supply and demand, but various factors keep inflation rates low

Bangko Sentral sees sharper GDP contraction in Q2 2020

Jun 27, 2020 - 2:32 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno says the country's gross domestic product is seen to contract by 5.7% to 6.7% in the second quarter due to the adverse impact of the coronavirus pandemic

STANDSTILL. An almost lifeless Araneta Center in Cubao, Quezon City, hours after the government enforced the Luzon-wide lockdown on March 17, 2020. Photo by Lisa Marie David/Rappler

[ANALYSIS] How COVID-19 threatens online freelancing in the PH – and what can be done

Jun 25, 2020 - 12:51 PM

'We should…recognize that in the face of COVID-19, these freelancers, just like many other Filipino workers, will be facing potentially significant headwinds'

[ANALYSIS] Duterte’s new COVID-19 loans: Need we worry?

Jun 19, 2020 - 1:16 PM

'Can Duterte and his minions spend the money effectively? Several red flags suggest they cannot.'

Japan debt watcher gives Philippines coveted A rating during pandemic

Jun 11, 2020 - 10:25 PM

The Japan Credit Rating Agency upgrades the Philippines' credit rating to A- with stable outlook

[ANALYSIS] The alarming jobs report Duterte is ignoring

Jun 10, 2020 - 3:07 PM

'Bringing back some jobs will also hinge on the government’s ability — nay, willingness — to implement mass or widespread testing'

Philippine economy to shrink by 1.9% in 2020, says World Bank

Jun 09, 2020 - 12:35 PM

The World Bank says steps to recovery include strengthening the healthcare system, improving the ease of doing business, and developing better internet in the Philippines

Peso strengthens, hits P49 to $1 after 3 years

Jun 05, 2020 - 9:30 PM

The Philippine peso is at its strongest in 3 years, but families receiving dollars from abroad may not be happy about the news

P1.3-trillion economic stimulus vs coronavirus 'not fundable,' says NEDA

Jun 05, 2020 - 4:50 PM

Economic managers say the government can only afford P130 billion for spending programs. Lawmaker Stella Quimbo says that is 'a pitiful response to the biggest economic catastrophe since the World War.'

FUNDING. Acting NEDA Secretary Karl Kendrick Chua. Photo by Angie de Silva/Rappler

Inflation slows to 2.1% in May 2020

Jun 05, 2020 - 9:07 AM

(UPDATED) Lower transportation costs and food prices cause the downtrend in the Philippines' inflation rate

[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)