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Economic Is a lockdown necessary?

Philippines’ economic team: No more lockdowns

Finance Secretary Carlos Dominguez III said on Monday, October 12, 2020 said that the Philippines cannot revert to stringent lockdowns if it wants to save jobs and lift people out of poverty post-pandemic. Editor’s Note: While we welcome statements like this from our government officials, we must be clear that the lifting of lockdowns is […]

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Economic Philippines

Bacolod business owners calls on LGU to end lockdowns

The Bacolod Employers’ Union (BEU) has called on the government to end the lockdown in the city. In a post published by the BEU today, September 30, 2020, it showed a copy of a letter addressed to Bacolod mayor Evelio Leonardia. Aside from the lifting of lockdowns, the organization also asked for a stimulus package […]

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Economic Philippines

Jollibee to close 255 stores

Jollibee Food Corporation (JFC) has announced that it will close 255 stores after suffering from a net loss of 11.96 billion pesos for the first six months of the year. By closing some of its stores, the company hopes to rebuild its business in order to meet the change in consumer behavior brought about by […]

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Economic

Big Tech thriving during pandemic despite widespread economic upheaval

While most countries in the world are experiencing severe economic contractions, Amazon, Facebook, and Apple are thriving. Projections are showing that the financial positions will only improve as the pandemic has pushed more people towards the internet. While the three companies were already doing well before the pandemic, but analysts are surprised at the extent […]

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Economic Philippines

Philippines officially in technical recession as economy shrinks by 16.5% in Q2

The Philippine economy is experiencing its greatest contraction in two decades following the extension of lockdowns in the country. The Reuter poll in June projected a 9% decline in economy, but official figures are now much larger, now pegged at 16.5%. Economic planners are now projecting an annual shrinkage of 5.5%. Editor’s Note: For non-economists, such […]

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Economic

ECOP: Almost 53% of MSMEs closed down permanently and partially

Edgardo B. Lacson, chairman of the Employer’s Conference of the Philippines (ECOP) says that 52.66% of micro, small, and medium enterprises have closed down permanently or partially due to the prolonged lockdown imposed by the Philippine government.  Of those who were able to continue their operation, 12.55% of MSMEs have limited operations, while only 34.79 […]

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Economic Human Societal

20% of Filipinos go hungry amid COVID

A recent survey conducted by the SWS discovered that 5.2 million or 20.9% of Filipinos have experienced involuntary hunger over the past three months of community quarantines in the country. This is a 4.2% increase from the involuntary hunger recorded in May 2020. 5.1% have experienced severe hunger, the highest figure recorded since June 2013.  […]

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Economic Political Societal

Projections on how COVID-19 will reorder our societies

In this March issue of The Politico Magazine, we read some expert predictions on how our societies will be transformed by COVID-19. From this article, it is the opportunity for change is apparent. The author, however cautions: such societal transformation can go both ways. It can either lead us toward a sustainable, nurturing, and life-giving future, or […]

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Economic Human Philippines Societal

3.9 million Filipino workers might lose jobs

In this article for The Manila Times, author William Depasupil says that 78% of businesses affected by COVID-19 will remain closed for months, hence leading to the loss of some 3.9 million jobs. The figure included both local and overseas Filipino workers.  Editor’s Note: Will the Philippines have the capacity to ensure that basic needs of the […]

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Economic Human

World Bank: Pandemic could push 60M into extreme poverty

In this May 21, 2020 report written for the Agence France-Presse, the World Bank said that 60M people around the world could fall into extreme poverty. This pronouncement comes after the World Bank has began financing aid programs to 100 countries. World Bank president says that this will reverse the progress made by poverty alleviation programs […]