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The 18th Congress recently concluded its work. And despite the pandemic, we can say that a lot has been accomplished across three very tumultuous years. As chairman of the Committee on Finance, we ensured that the budget was enacted on time. More importantly, in response to Covid-19,
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The terms that are often synonymously used in the context are sharing economy or collaborative consumption or freelancer economy or simply gig economy.
Published July 19, 2021, 7:43 AM
The Philippines’ economic growth continues to take a hit as the country grapples with the COVID-19 pandemic in one of the longest lockdowns in the world.
A July report from Moody’s Analytics tapered its growth forecast for the Philippines, predicting its gross domestic product (GDP) to grow by 4.9 percent at the end of the year compared to its 5.3 percent estimate in May. This number is significantly lower than the 6 to 7 percent growth targeted by the Philippine government for 2021.
While larger companies in the Philippines see their revenues gradually bounce back, the slow easing of restrictions and low GDP growth are taking more of a toll on Filipino workers. The Philippine Statistics Authority reported that unemployment in the Philippines rose up to 8.7 percent in April 2021, significantly higher than the 7.1 percent reported the previous month. The increase coincided with the tightening of lockdowns in certain parts of the country amidst h