SSS contributions down 7.1% as recession slashed jobs

Ben O. de Vera 03/13/2021

Contributions to the state-run pension fund Social Security System (SSS) dropped 7.1 percent to P204.75 billion in 2020 as millions of its members lost their jobs amid the COVID-19 pandemic, the Department of Finance (DOF) said Friday.…

PH posts worst recession in 2020

Ben O. de Vera - Reporter / @bendeveraINQ 01/28/2021

MANILA, Philippines — The COVID-19 pandemic and natural disasters such as the Taal volcanic eruption and a string of strong typhoons have inflicted the Philippines’ worst post-war recession in 2020, with the economy shrinking by a record…

More than stimulus

Cielito F. Habito - @inquirerdotnet 09/29/2020

It seems conventional wisdom now that the way out of the COVID-19-induced recession is to throw money—lots of it—at the problem. The term commonly used is “economic stimulus,” which in the current context means government spends unprecedented…

Strong peso foreshadows bad economic news, says ING economist

Daxim L. Lucas - Reporter / @daxinq 09/21/2020

MANILA, Philippines — The strong peso may be a portent of bad economic news because it is being caused primarily by a steep drop in imports that were needed for the Philippines to maintain its growth trajectory, according…

16.5-percent GDP drop: What went wrong?

Solita Collas-Monsod - @inquirerdotnet 08/08/2020

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…

Business leaders say ‘Brexit’ won’t affect PH, Cebu traders

Aileen Garcia-Yap 06/26/2016

The British vote to leave the European Union (EU), also called as the “Brexit,” will only affect the Philippines, including Cebu, if this British action will affect the US economy. This was the general sentiment of Cebu…

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