The year 2020 marked the fourth year of President Rodrigo Duterte’s six-year term in office, following his inauguration in June 2016. The Philippines’ GDP increased by more than 6% per year between 2012 and 2019, making inclusive growth and the reduction of income inequality among the top priorities for the administration. However, the economy...
The Philippines reported its first Covid-19 case on January 30, 2020, and confirmed its first coronavirus-related fatality three days later. The country was officially placed under a state of calamity for a period of six months on March 17, mandating that national and local authorities mobilise the resources needed to respond to the health...
The Philippine government launched a four-pillar socio-economic strategy to mitigate the impact of the pandemic and aid the national recovery effort. The framework aims to provide emergency support for vulnerable groups and individuals; expand medical resources to fight Covid-19 and ensure the safety of health workers; implement fiscal and...
To what extent has the country’s fiscal strategy prepared it for the planned P6trn ($119.3bn) worth of borrowings in 2020-21 to address the crisis?
The Philippines is one of the fastest-growing economies of the past decade, averaging 6.4% growth per year in 2010-19. Indeed, an expanding and youthful population, combined with reforms and an ambitious infrastructure programme, have made it an enticing investment destination. Nevertheless, as is often the case in emerging markets, challenges...
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