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MANILA, Philippines — The shrink in the country’s economy could have been eased had the government allowed public transportation to operate safely during the quarantine period, said Vice President Leni Robredo. Robredo on Sunday, who insisted that…
Our country has experienced negative growth for two quarters in a row in 2020 and is now technically in recession. In the first quarter of 2020, we contracted by 0.7 percent, and for the second quarter, the…
MANILA, Philippines–The Philippine economy contracted by a record 16.5 percent during the second quarter — at the height of the longest and most stringent COVID-19 lockdown in the region that had put a halt to 75 percent…
The research arm of debt watcher Moody’s Investors Service is projecting an 8-percent dive in the Philippines’ gross domestic product (GDP) during the second quarter of 2020 largely as a result of one of the world’s most…
The size of the economy is usually measured by the size of its Gross Domestic Product (GDP). The GDP sums up the value of the country’s total output of final goods and services. It is also…
It is not banks, money, GDP (gross domestic product), or anything that makes up our nation or the economy; it is our people, our workers. Therefore, until the people or our workers are still being locked-up at…
No country in the world, both rich and poor, is immune from the onslaught that comes with the recent coronavirus outbreak that began in Wuhan, China, in December 2019. Known as SARS-Cov-2, the virus has already…
CEBU CITY—The Asian Development Bank (ADB) foresees a slower economic growth for the Philippines this year but projects a strong rebound in 2021. The ADB made this pronouncement in a new ADB report released today…
One of the most visible impacts of COVID-19 is seen in the tourism industry. What will be the extent of losses caused by COVID-19 to the Philippine tourism industry and to the national economy? As a background,…
The World Travel and Tourism Council (WTTC) reported that in 2017 the total benefits that travel and tourism gave to the Philippines amounted to P3,348 billion (US$66.3 billion), about 21.1 percent of the country’s gross domestic…
A prolonged crisis over the novel coronavirus (2019-nCoV) would likely cut up to P133 billion from the country’s P19-trillion economy, the country’s chief economist said on Friday with the property sector already feeling the effects of the…
Up to last year or before the advent of the coronavirus, travel and tourism was seen as one of the most important and fastest growing economic activity in the world. It may not be anymore this…
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