Crippled by the global health crisis, the Philippines went into recession — the steepest rate of economic decline so far — at the last year of the Duterte administration, as the government set its sights on a steady recovery backed by an effective COVID-19 pandemic response.
The government pointed to slow growth in the agriculture and manufacturing sectors, and the residual impact of a nearly three-decade slowdown in the Chinese economy Still maintaining the bright side, government economic managers were quick to point out the economy's resilience. Chanco noted that before COVID-19, the debt-to-GDP ratio was below 40% “for a number of years,” describing at as a “fairly healthy position.”as of end-2020 as authorities scrambled to fund the COVID-19 war chest. the Finance department's mid-year target to keep national borrowing at half the GDP.
“You're gonna have to consider more austere fiscal measures to reduce your debt pile. That could hit the ordinary Filipino by a potential increase in taxes or the government could cut spending, which would have a more direct impact on the economy and ultimately, Filipino households,” he said.Inflation, or the rate of increase in the cost of goods and services, is among economic indicators that directly impact Filipinos.
“Do we blame Duterte for the spike in inflation then? Yes, because that's what normally happens when you increase taxes on petrol, sin taxes, what have you,” said Chanco. “But at the same time…it’s over the long run better for the inflation environment if it means your budget deficit is kept to a low level because of more tax collection.”
Duterte adulterous tinira mo ang ina ng US born citizen patama suporta sa comelec officer pinauwi ang asawa para paghirapun sa Pilipinss sinira mo ang anak ko pinaabuso mo sa pamilya ng bisaya at pinigil mo na makaalis ng Pilipinss ang ina na dapat ay greencard holder na tin
Had he only gotten rid of Duque and let science, instead of military, do the job on Covid...
Buang ang ulul...
Lol… all y’all voted for him 🤣
More like 'From Rising Tiger to China-Licking Pussy.' 😹
The covid-19 pandemic is just the perfect cover-up of their insatiable appetite of stealing the taxpayers money.
Worst president ever. Bar none.
You mean “once among Southeast Asia’s vibrant economies” —- in the 1950’s maybe. We have declined and has been overtaken by our neighbors ever since.
From Rising Tiger to Terminally Ill Kitten of Asia under the Buang Administration 🤪🤪🤪🤪
So with almost the rest of the world brought about by the pandemic. We are blessed to have this President during this unprecedented times. Many other countries performed a lot worse.
From Asia's Rising Tiger to Asia's Starving Hyena.
DutertePalpak
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