The Philippine Economic Landscape in 2010

As it begins the second decade of the 21st Century, the Philippines faces a major challenge to move its economy to a higher level of growth and job creation than it has experienced during the past often turbulent decades.

Figure 1 presents Philippine economic growth rates from 1981 to 2009 and clearly shows the boom-and-bust cycles triggered by the brutal assassination of former Senator Aquino in 1983, the military coup attempt of December 1989, the power blackouts of 1991-1992, and the Asian financial crisis in 1997. Each crisis forced GDP growth into negative territory and significantly reduced the PCI for a fast-growing population.

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Philippine Growth Has Not Been Inclusive

While growth has improved from the dismal levels of the 80s and 90s, the average GDP growth of the last decade will not be enough to address some major challenges the Philippines faces. [ Read This Chapter ]

Living in the High Growth Neighborhood

The Philippines is located in the world's fastest growing region. Figure 10 shows that the ASEAN-6 plus 4 (China, India, Japan, and Korea) in 2009 had about the same share 23.4% of world GDP as the United States (24.5%) and the EU (21.4%). [ Read This Chapter ]

Fitch Solutions says Philippines to ‘struggle to...

28 January, 2019 at 10:29

Economic growth will likely ease further this year in the face of heightened global trade tensions and “deteriorating” business conditions, Fitch Solutions Macro Research said…

[OPINION] Structural weaknesses in our economy: What...

19 October, 2018 at 16:30

In my last column, “The Structural Weaknesses of the Philippine Economy,” I said that the recent economic data show the structural weaknesses of the Philippine economy: low agricultural productivity, weak export growth, and…

Philippines remains at bottom of FDI inflows...

7 June, 2018 at 13:34

The Philippines still lags behind most of its peers in Southeast Asia in attracting foreign direct investments (FDI) despite attaining record high inflows in 2017.

Weak FDI pledges worry Amcham

16 March, 2018 at 12:00

The Philippines is now slowly catching up with its fast growing Asean neighbors in terms of foreign direct investments (FDIs) but American businesses believe the Philippines should be able to attract even higher levels of FDI in the future.

BOI mulls new perks for FDI, sees...

17 January, 2018 at 14:00

The Board of Investments (BOI) is looking at a conservative 10 percent growth in the registration of new investment pledges this year to P680 billion from P617 billion in 2017…

Senate eyes Charter change that amends economic...

16 January, 2018 at 17:00

Long-envisioned but always sidelined amendments to the economic provisions of the 1987 Constitution—seen as too restrictive as to hinder the country’s global competitiveness and ability to invite investments…

Foreign direct investments into PH treble in...

11 January, 2018 at 10:58

A surge of equity capital inflows into the power sector trebled the level of foreign direct investments in the Philippines in October last year, according to the latest data from the Bangko Sentral ng Pilipinas.

Peso among ‘most stable’ in Asia despite...

10 January, 2018 at 10:32

The Department of Finance (DoF) said the peso remained among the “most stable” currencies in Asia and “finished strongly” in 2017 despite a 0.5% depreciation against the dollar.

[EDITORIAL] Challenges amid growth

21 November, 2017 at 13:00

Despite the siege in Marawi, inflation, political noise and external factors, the economy grew by a better-than-expected 6.9 percent in the third quarter.

[OPINION] All cracked up

17 October, 2017 at 14:54

A diplomat who watched President Duterte perorating against the European Union last week said the remarks were so incredible he felt like cracking up.

Vietnam beats PHL in competitiveness

29 September, 2017 at 15:00

The Philippines climbed a rung in the World Economic Forum’s annual competitiveness roster this year even as the country’s score slipped, allowing Vietnam and Brunei Darussalam to jump over it.

PH one spot higher in Global Competitiveness...

27 September, 2017 at 10:08

The Global Competitiveness Report 2017-2018, published today, sees the Philippines going up in global competitiveness rankings by 1 notch, from 57th in 2016 to 56th in 2017.

Korean firms leave Philippines for Vietnam

25 August, 2017 at 13:00

Korean manufacturing companies in the Philippines are packing up and leaving the country for Vietnam where they see lower costs and an easier way of doing business.

DTI to ask for prospective implementation of...

15 August, 2017 at 14:14

The Department of Trade and Industry (DTI) may ask the Department of Finance (DOF) to reconsider the planned removal of the 15-percent preferential income tax rate for individuals currently employed in the regional operating headquarters…

Easing foreign ownership rules to drive FDI...

3 August, 2017 at 14:30

More foreign direct investment (FDI) is expected to enter the Philippines amid a liberalization in the banking sector as the government plans to ease foreign-ownership limitations in most industries…

[OPINION] Financing the Philippine golden age of...

1 June, 2017 at 17:00

In recent years, the Philippines has enjoyed strong and sustained economic growth founded on sound macroeconomic fundamentals.

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