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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…
Government spending more than before, however, may also lead to much larger government deficits and to higher inflation rate. As reported yesterday by the Philippine Statistics Authority (PSA), the country’s Gross Domestic Product (GDP) grew by 6.1…
An excise tax not only raises the price of the product directly and make the poor to suffer more; it also lowers output and create more joblessness among the poor. The government is lowering its real GDP…
The Philippine economy grew by 6.0 percent in the second quarter of 2018. This is down from the 6.6 percent growth rate recorded in the same period last year and the much higher 6.9 percent growth rate…
There were errors in my article last week. This is the corrected version of the article which I overhauled as a whole in view of its importance in helping us gauge the real size of the economy…
The gross domestic product or GDP measures the total value of all the final output of goods and services produced in the country at current prices or at constant base year prices. Final product means that intermediate…
THE country’s chief economist has anticipated a full-year gross domestic product (GDP) growth hitting the middle of the government’s 6.5–7.5 percent target. “If we hit close to the midrange we’ll be happy with that, higher or lower…
FIRST QUARTER Amid recovery in the agriculture sector, robust trade and manufacturing growth as well as sustained strong domestic demand, the Philippine economy expanded 6.4 percent year-on-year in the first quarter, the government reported Thursday. The figure,…
Slow Q4 growth of 6.6% posted last year, but 2016’s 6.8% GDP growth fastest in 3 years Business leaders in Cebu welcome the country’s strong economic performance in the last quarter of the 2016, with economy growing…
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