TAG: Philippines
Construction – and infrastructure development in particular – is expected to be a key driver of economic growth across ASEAN from 2021. The bloc, home to some of the world’s fastest-growing economies and lowest unemployment rates, faced the novel coronavirus after years of health care infrastructure improvements, with much of the group reporting Covid-19 case-fatality rates below the global mean in 2020.
The Philippine tobacco industry accounted for roughly 6% of tax revenue in 2020, and 58% of so-called sin tax receipts.
The Philippine roadmap for inclusive, balanced, long-term growth is aligned with environmental, social and governance (ESG) principles and the UN Sustainable Development Goals (SDGs).