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Facebook | (RESEARCHED BY: ALEXA AMBRAY)

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URL: https://www.facebook.com/sunstardavaonews/posts/pfbid0Bz2U4mDkDxa2Av1xy8sBwZBLHTJPKq4vJybkf6Dsx86cNCUZwexoaYRhYS4J7wk3l
TITLE: Davao Region posts 5.9% growth in 2021

AUTHOR: SunStar Davao
DATE PUBLISHED: April 28, 2022
KEY INFO: Despite having the fourth greatest economic growth rate in Mindanao, Davao Region remains the 5th largest economy in the Philippines and the largest in Mindanao as stated in the post.

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China to invest more in Mindanao, import more crops (RESEARCHED BY: BLESSY JADE S. ABELLA)

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URL:
https://www.mindanews.com/business/2019/08/china-to-invest-more-in-mindanao-import-more-crops/
TITLE:
China to invest more in Mindanao, import more crops.
AUTHOR:
Antonio L. Colina IV
DATE PUBLISHED:
August 11, 2019
KEY INFO:
In the article, Mindanao is discussed as a potential investment location for additional Chinese businessmen. It contributes in our economic growth by establishing and bolstering its backing support for the construction of infrastructure and the importation of superior agricultural products from Mindanao to China.

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DAVAO CITY (MindaNews / 11 August) - China will pour more investments in Mindanao and import more crops from the country's second largest island grouping as its relationship with the Philippines is "enjoying the best time in history," Chinese Deputy Consul General Duokon Tang said.

Tang reiterated China would help the Philippines develop by strengthening its support for infrastructure development and importing top agricultural crops from Mindanao to China.

"This is a very, very rare, valuable and precious opportunity for us, we must seek it," he said.

He vowed to introduce Mindanao as a possible investment destination to more Chinese businessmen.

The Chinese government opened its consulate general in Davao City on October 28 last year.

Vicente Lao, chair of the Mindanao Business Council said in a text message on Sunday that the Philippine should take advantage of the desire of China to invest here to push the growth of the country.

"We have never had it so good," he said of the country's stronger diplomatic ties with China under the Duterte administration.

He said the country's relationship with China would boost the domestic economy.

"The gross regional domestic product is high, inflation is low and the interest is very low. We should advantage of the desire of China to invest in the Philippines so that we will be able to grow and become a middle-income country," he said.

President Rodrigo Duterte is set to leave for China later this month, his 5 th visit since he was elected President in 2016.

Approved Chinese investments in the country in 2018 reached 50.7 billion pesos compared to 2.3 billion pesos recorded in 2017, according to a data released by the Philippine Statistics Authority (PSA) last February.

Investments from China comprised 28.3 percent, the highest, of the 179 billion pesos in total foreign investments approved last year.

Singapore came in second with approved investment pledges worth PhP 21.181B: Japan pledged PhP 19.7 B; British Virgin Islands, PhP 16.2 B; Malaysia, P14.6 B; United States of America, P12.8 B; Taiwan, P4.2 B; United Kingdom, P3.8 B; France, P2.56 B; and Australia, P2.4B.

These figures were based on the pledges approved by the Board of Investments, Clark Development Corporation, Philippine Economic Zone Authority, Subic Bay Metropolitan Authority, Authority of the Freeport Area of Bataan, BOI-Autonomous Region of Muslim Mindanao, and Cagayan Economic Zone Authority.

Tang added some of the Chinese-supported infrastructure projects in the Philippines have already started while the others are undergoing feasibility study. (Antonio L. Colina IV / MindaNews)

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China to invest more in Mindanao, import more crops

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DAVAO CITY (MindaNews / 11 August) - China will pour more investments in Mindanao and import more crops from the country's second largest island grouping as its relationship with the Philippines is "enjoying the best time in history," Chinese Deputy Consul General Duokon Tang said.

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Stronger Domestic Demand to Fuel Philippine Economic Growth in 2022, 2023 - ADB (RESEARCHED BY: HESSIANA VILLEJO)

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URL: https://www.adb.org/news/stronger-domestic-demand-fuel-philippine-economic-growth-2022-2023-adb
TITLE: Stronger Domestic Demand to Fuel Philippine Economic Growth in 2022, 2023
AUTHOR: Asian Development Bank
DATE PUBLISHED: April 6, 2022
KEY INFO: There has been rising domestic investment and consumption as the pandemic restrictions have eased. The article forecasts the economy of the Philippines to grow by 6.0% in 2022. This is connected to the research topic as it shows how investing in domestic businesses can contribute towards economic growth.

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MANILA, PHILIPPINES (6 April 2022) - The Philippines' economic recovery is expected to gain traction this year and the next, underpinned by rising domestic investment and consumption as pandemic restrictions eased, allowing for more manufacturing and construction activities, according to a new report released by the Asian Development Bank (ADB) today.

The Asian Development Outlook (ADO) 2022, ADB's flagship economic publication, forecasts the Philippine economy to grow by 6.0% in 2022, rising further by 6.3% in 2023. Government measures issued last month to reopen the economy, lift mobility restrictions, expand coronavirus disease (COVID-19) vaccination, and relax international travel restrictions will boost the services sector.

"Nearly all indicators point to higher growth for the Philippines this year and in 2023, barring the impact of external factors from geopolitical tensions that may dampen growth globally, including in the country's key export markets Europe and the United States," said ADB Philippines Country Director Kelly Bird.

"Policies to build the resilience of micro, small, and medium-sized enterprises (MSMEs), which play a vital role in the country's economic recovery, should be strengthened to support the sector's digital transformation, business innovation, and skills development," Mr. Bird added. ADB is currently assisting the government to provide employer-led skills trainings to selected sectors to upgrade MSME workers' competencies under the Skills Up Net Philippines program.

The capital Metro Manila and areas on the main Luzon island, which account for about 70% of gross domestic product (GDP), shifted to the lowest level of pandemic restrictions in March, as daily COVID-19 cases averaged below 1,000. Businesses and public transport are now allowed to operate at full capacity. The government has reopened the country to fully vaccinated international travelers since February. This should boost tourism and employment in the services sector, which accounts for 60% of GDP, according to the report.

Increased public investment in large, priority infrastructure projects will continue to boost growth, with the government aiming to sustain infrastructure spending at over 5.0% of GDP in 2022 from 5.8% in 2021, the report said.

Recent upticks in private investment and the passage of policy reform measures to ease rules on foreign equity ownership and lower the minimum paid-up capital of foreign retailers will support economic growth. Imports of capital goods climbed at a double-digit pace in January 2022 and bank lending to businesses posted its biggest annual increase in nearly 2 years in the same period. Net inflows of foreign direct investment rebounded by 54.2% year-on-year in 2021, with the inflows channeled mostly into manufacturing and utilities sectors.

Inflation is forecast to rise to 4.2% in 2022 on pressures from higher global oil and commodity prices due to geopolitical tensions. In March, the government issued fuel subsidies and discount vouchers to public transport drivers, farmers, and fisherfolk to help them cope with rising fuel and production costs. Inflation is expected to decelerate to 3.5% in 2023 as global commodity prices moderate.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.

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Stronger Domestic Demand to Fuel Philippine Economic Growth in 2022, 2023 - ADB

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MANILA, PHILIPPINES (6 April 2022) - The Philippines' economic recovery is expected to gain traction this year and the next, underpinned by rising domestic investment and consumption as pandemic restrictions eased, allowing for more manufacturing and construction activities, according to a new report released by the Asian Development Bank (ADB) today.

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Ukrainian siblings recall long journey from war zone to refugee camp. (RESEARCHED BY: RYETH JAD DELOLA)

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URL: https://abcnews.go.com/International/ukrainian-siblings-recall-long-journey-war-zone-refugee/story?id=88839920#
Title: Ukranian Siblings recall long journey from warzone to refugee camp
Author: ABC news
Date : August 26, 2022
KEY INFO:
This news article tells us the 2 day trip of siblings Dymtro and Maria Zalata from a war zone to a refugee camp. In order to reach Zaphorizhzhia, Maria and Dymtro had to be very careful. They bought groceries at a store that sold russian products. They went through a checkpoint and had to have all photos that had Ukranian symbols deleted. Then they finally arrived in Zaphorizhzhia and they cheered. Being in her village was very uncomfortable, she said, because of the constant presence of Russian soldiers. "We are so upset," she said, about the occupation.

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At a camp in Zaporizhzhia, Ukraine, for people displaced by the war, two siblings recounted the harrowing journey they'd made from their village, which was being bombed by Russian forces.

Maria Zalata, 14, and her brother Dymtro Zalata, 17, traveled for two days from their village of Vesele to reach the Ukrainian-controlled area of Zaporizhzhia.

The trip was "terrifying," Dymtro told ABC News reporter Britt Clennett. Their father stayed behind to guard the family's home, pets and garden against the Russian soldiers.

The war in Ukraine, which hit its six-month mark on Wednesday, has devastated the lives and aspirations of millions of young people like Maria and Dymtro. UNICEF estimates that 5 million Ukrainian children both inside the country and living as refugees abroad are in need of humanitarian aid.

In order to reach Zaporizhzhia, Maria and Dymtro slept in a car and had to be very careful about their movements. They bought groceries at a store that sold Russian products, they said.

Maria Zalata, 14, speaks with ABC News' Britt Clennett.

They went through a checkpoint where their phones were examined, and they had to erase all photos that had Ukrainian symbols.

When they finally arrived in Zaporizhzhia and saw the Ukrainian flag, they cheered.

"I am so happy to be here with our soldiers," Maria said. "I am crying now." She said her mother, and another woman they were with, also broke down in tears. "It's such a big happiness that we can be in Ukrainian free territory."

"I feel like I found my home," she said.

Being in her village was very uncomfortable, she said, because of the constant presence of Russian soldiers. "We are so upset," she said, about the occupation.

She wishes her village can be liberated soon, so that her family can return. She told ABC News she wants to see the colors of the Ukrainian flag, yellow and blue, and their symbols, returned to the village.

The future is still uncertain. They dream of freedom, and of reuniting with their father.

"We hope all people can stay strong, and that we will defeat Russia," she said.

They plan to go to Kiev and then move to the western part of Ukraine, where they have family. Maria plans to start school in September, as her school in Vesele has been occupied by the Russians.

But first, they will stay at the volunteer-run camp for another couple days.

"We are so, so happy people are helping us. We are so grateful," Maria said.

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Ukrainian siblings recall long journey from war zone to refugee camp

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At a camp in Zaporizhzhia, Ukraine, for people displaced by the war, two siblings recounted the harrowing journey they'd made from their village, which was being bombed by Russian forces. Maria Zalata, 14, and her brother Dymtro Zalata, 17, traveled for two days from their village of Vesele to reach the Ukrainian-controlled area of Zaporizhzhia.

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PH economy grows 7.4% in Q2 2022 | ANC (RESEARCHED BY: ALEXA AMBRAY)

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URL: https://youtu.be/PIC6Am7R_3U
TITLE: PH economy grows 7.4% in Q2 2022
AUTHOR: ANC News
DATE PUBLISHED: Aug 9, 2022
KEY INFO: In the second quarter of the year, the Philippine economy grew less than anticipated due to the effects of high unemployment and inflation, according to the news segment. Continuing to promote economic growth through this year's full economic opening, which includes the restoration of 100% face-to-face classes, which is anticipated to create jobs to support sectors as the education system. This is connected to our research topic as it states the crucial role that job creation plays in the recovery of our economy.

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Global recession fears loom large, major economies heading into recession? | World News | WION (RESEARCHED BY: DANIELLE ALEXEI K. JALA)

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URL: https://www.youtube.com/watch?v=6N9_0TKfO7o
TITLE:

Global recession fears loom large, major economies heading into recession?

AUTHOR: WION
DATE: July 7, 2022
KEY INFO: Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions. Prices for some common commodities are reaching record levels, economic growth is slowing and inflation is rising.

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Global recession fears loom large, major economies heading into recession? | World News | WION

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Manila Bulletin-July 9, 2020 Newspaper - Get your Digital Subscription. (RESEARCHED BY: JUSTIN LIAM GESTUVEO)

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URL: https://www.magzter.com/PH/Manila-Bulletin-Publishing-Company/Manila-Bulletin/Newspaper/480744
TITLE: 100% Opening of economy unlikely
AUTHOR: AA PATAWARAN
DATE: July 9, 2020
KEY INFO:
This newspaper tells us that the Philippine economy is unlikely to open because of the Covid-19. The Philippines will be in trouble if the economy fully opens up it could trigger a spike in the cases of coronavirus disease and it would be a difficult situation and could give Philippines consequences that could damage and render the recovery of the economy.

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Manila Bulletin-July 9, 2020 Newspaper - Get your Digital Subscription.

# data[].attributes.attachment_link.description
Try FREE for 7 days Latest and past issues of 7,500+ magazines & newspapers Digital Access. Cancel Anytime. 1 Year$99.99 $49.99 Save 50% Latest and past issues of 7,500+ magazines & newspapers Digital Access. Cancel Anytime.

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"Make It Happen in the Philippines" Investments Promotion Campaign Official AVP (RESEARCHED BY: HESSIANA VILLEJO) 

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8) PUBLIC SERVICE MESSAGE OR PROMOTIONAL VIDEO

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8) PUBLIC SERVICE MESSAGE OR PROMOTIONAL VIDEO

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URL: https://www.youtube.com/watch?v=H3m9vP0mZa0
TITLE: "Make It Happen in the Philippines" Investments Promotion Campaign Official AVP
AUTHOR: Board of Investments Philippines
DATE: November 24, 2020
KEY INFO: The video promotes the Philippine economy by showcasing data about new businesses and remarkable investments amidst the pandemic. Encouraging and enthuses investors to invest in the Philippines.

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"Make It Happen in the Philippines" Investments Promotion Campaign Official AVP

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Judge John Hodgman on Taking the Chargers (RESEARCHED BY: RYETH JAD DELOLA)

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URL: https://www.nytimes.com/2022/08/25/magazine/judge-john-hodgman-chargers.html
TITLE: Judge John Hodgman on Taking the Chargers
AUTHOR: The New York Times Magazine
DATE: August 25, 2022
KEY INFO: Alissa the wife of Judge John Hogdman orders her husband to keep his hands off her chargers. He frequently leaves chargers around the house even if it is labeled "Alissa". He argues that chargers belong to everyone.

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Alissa writes: Please order my husband to keep his hands off our chargers! He frequently leaves his charger somewhere and takes any charger in the house - even if it is labeled with my name or our daughter's! He argues that chargers belong to everyone.

I am home alone this summer for work, with only my shows, and I've discovered a remarkable phenomenon: Everything stays in the same place. Not just chargers, which our children steal so relentlessly that I think maybe they eat them? But also remotes, hair brushes, food - everything! This may sound wonderful to you, but being the sole source of entropy in a closed system gets haunting at 2 a.m. That's when I pray to the darkness for anyone to please steal my charger, if only to prove that I am not the last human on a dead Earth. But on your planet, yeah: He needs to get his act together and knock it off.

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Judge John Hodgman on Taking the Chargers

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Alissa writes: Please order my husband to keep his hands off our chargers! He frequently leaves his charger somewhere and takes any charger in the house - even if it is labeled with my name or our daughter's! He argues that chargers belong to everyone.

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Why Davao City is becoming real estate development haven - Welcome to Damosa Land, Inc (RESEARCHED BY: BLESSY JADE S. ABELLA)

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URL:
https://damosaland.com/why-davao-city-is-becoming-real-estate-development-haven/
TITLE: Why Davao City is becoming real estate development haven
AUTHOR:
Prime Philippines
DATE PUBLISHED:
June 6, 2019
KEY INFO:
One of the Philippines' fastest-growing economies is Mindanao, which is one of the most anticipated. As investors from both domestic and outside have come to realize how much potential there is for growth, it has steadily attracted both local and foreign investors. One of the things that made Mindanao more appealing for investments was its economic progress.

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Why Davao City is becoming real estate development haven - Welcome to Damosa Land, Inc

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FROM property development to infrastructure-building, Mindanao emerges as one of the most anticipated rising economies in the Philippines. It has gradually attracted local and international investors as they recognize its impressive headroom for development. Alongside the numerous strategic investment plans fueling Mindanao's progress, Davao City stands as its central growth point.

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Future of Work: Towards Decent Jobs for All? (RESEARCHED BY: DANIELLE ALEXEI K. JALA)

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URL: https://www.youtube.com/watch?v=17ifBsncVt8
TITLE: Future of Work: Towards Decent Jobs for All?
AUTHOR: UN University
DATE: June 8, 2017
KEY INFO: In this video, UNU Research Associate Cale Salih and Director-General of the International Labor Organization Guy Ryder have a discussion about these important issues relating to the future of work and how they relate to the Development Goals.

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Future of Work: Towards Decent Jobs for All?

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Philippines: 5 infographics on population, wealth, economy - ASEAN UP (RESEARCHED BY: JUSTIN LIAM GESTUVEO)

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https://aseanup.com/philippines-infographics-population-wealth-economy/
TITLE: Philippines: 5 infographics on population, wealth, economy
Author: ASEAN UP
DATE: March 26, 2018
KEY INFO:
It talks about the population, wealth and economy in the Philippines, as the Philippines is one of the fastest growing economies in the world this infographic and economic data shows us how we compare towards other major global markets and economies like US, EU, China, Japan and India

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Last update: March 26, 2018

After trailing regional economies for years, the Philippines is now often called a new Asian "tiger" with one of the fastest growing economies in the world. This series of infographics presents key demographic and economic data on the Philippines, as well as some perspectives with other ASEAN and world-leading countries.

To help you easily grasp the dynamics of economics and business in the Philippines with visual illustrations, here is a set of 5 individual infographics about the country. They detail information from the World Bank data from 2016 on the population, wealth and economy of the Philippines compared with ASEAN and other major global markets and economies: US, EU, China, Japan and India.

For more information on the Philippine and Southeast Asian population, cities and urban population, check this other series of infographics on ASEAN demography, top cities and urbanization. For a broader view of ASEAN's demography and economy, visit the infographics on ASEAN's population, market and economy.
Feel free to use these infographics as needed for your presentations, websites, blogs, illustrations, etc. However, if you do so, please add a link back to this page to help spread this useful information and graphics. Thank you!
The population of the Philippines

This first infographic compares the population of 103 million of the Philippines with ASEAN and other major global markets: the US, EU, China, Japan and India.

Comparison of the Philippine population with reference countries

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<a href='https://aseanup.com/philippines-infographics-population-wealth-economy/'><img src='https://aseanup.com/wp-content/uploads/2018/01/philippines-population.jpg' alt='Comparison of the Philippine population with reference countries' width='600px' /></a>

Wealth of the Filipinos

The following graphic displays a comparison between the wealth of Filipinos, expressed in nominal GDP per capita, with other ASEAN countries, ASEAN as a whole, as well as major regional and global powers: the US, EU, China, Japan and India.

Comparison of the Philippines' GDP per capita with ASEAN and reference countries

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<a href='https://aseanup.com/philippines-infographics-population-wealth-economy/'><img src='https://aseanup.com/wp-content/uploads/2018/01/philippines-gdp-per-capita.jpg' alt='Comparison of the Philippines' GDP per capita with ASEAN and reference countries' width='600px' /></a>

The Philippines' economy

These two infographics compare the US$ 305 Billion GDP of the Philippines with other countries. The first one with ASEAN and other major global markets: the US, EU, China, Japan and India; the second within ASEAN and its other 9 member countries.

Comparison of the Philippine economy with reference countries

Embed code

<a href='https://aseanup.com/philippines-infographics-population-wealth-economy/'><img src='https://aseanup.com/wp-content/uploads/2018/01/philippines-economy.jpg' alt='Comparison of the Philippine economy with reference countries' width='600px' /></a>

Philippines' economy compared to other ASEAN countries

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<a href='https://aseanup.com/philippines-infographics-population-wealth-economy/'><img src='https://aseanup.com/wp-content/uploads/2018/01/philippines-economy-vs-asean-countries.jpg' alt='The Philippines' economy compared to other ASEAN countries' width='600px' /></a>

Philippine economic growth

This last graphic presents the economic growth of the Philippines over 2011-2016 compared with the ASEAN-6 countries, the six largest economies of Southeast Asia: Indonesia, Thailand, Philippines, Singapore, Malaysia and Vietnam.

Comparison of the Philippines' economic growth with ASEAN-6 countries

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<a href='https://aseanup.com/philippines-infographics-population-wealth-economy/'><img src='https://aseanup.com/wp-content/uploads/2018/01/philippines-economic-growth.jpg' alt='Comparison of the Philippines' economic growth with ASEAN-6 countries' width='600px' /></a>

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Philippines: 5 infographics on population, wealth, economy - ASEAN UP

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Last update: March 26, 2018 After trailing regional economies for years, the Philippines is now often called a new Asian "tiger" with one of the fastest growing economies in the world. This series of infographics presents key demographic and economic data on the Philippines, as well as some perspectives with other ASEAN and world-leading countries.

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STATEMENT OF NEDA SECRETARY ARSENIO M. BALISACAN ON THE PHILIPPINE ECONOMIC PERFORMANCE FOR THE SECOND QUARTER OF 2022 - NEDA (RESEARCHED BY: ALEXA AMBRAY)

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URL: https://neda.gov.ph/statement-of-neda-secretary-arsenio-m-balisacan-on-the-philippine-economic-performance-for-the-second-quarter-of-2022/
TITLE: Statement of NEDA secretary Arsenio M. Balisacan on the Philippine economic performance for the second quarter of 2022
AUTHOR: NEDA
DATE PUBLISHED: August 9, 2022
KEY INFO: The article states that our economy continued to expand in the second quarter of 2022, with 7.4 percent real GDP growth, according to the Philippine Statistics Authority. All production sectors expanded in the third quarter, led by the services and industry sectors, which grew by 9.1 percent and 6.3 percent. The full reopening of the economy will result in greater income-earning options. It is relevant to our research topic as it implies that the main goal is to reinvigorate job creation.

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National Economic and Development Authority

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STATEMENT OF THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY
ON THE PHILIPPINE ECONOMIC PERFORMANCE
FOR THE SECOND QUARTER OF 2022
NEDA SECRETARY ARSENIO M. BALISACAN AUGUST 9, 2022
Colleagues in government, friends from the media, fellow Filipinos,

Good morning!

Our country's recovery from its most significant economic and health challenge remains strong due to improved risk management as more social and economic activities have been allowed. For the remainder of the year, we must apply the same or even better risk management protocols and protect the most vulnerable against high inflation and other shocks and scarring due to COVID-19.

According to the Philippine Statistics Authority, our economy sustained its expansion in the second quarter of 2022, with real GDP growth of 7.4 percent. This growth is slightly less than the median forecast of 7 and a half percent; still, this figure places the country as the second best-performing nation among the region's major emerging economies that have released their second quarter reports. Our country is next to Vietnam's 7.7 percent but faster than Indonesia's 5.4 percent and China's 0.4 percent. This performance also remains in line with our expectations, or our expected 6.5 to 7.5 percent growth in 2022.

Timely changes in COVID-related policies, such as easing alert levels, removing tourism restrictions, and accelerated vaccine rollout, helped increase economic activities. As of June 2022, around 85 percent of the economy is already under Alert Level 1. That these changes were implemented during the recently-held national and local elections demonstrates that, indeed, "living with the virus" is possible.

All sectors on the production side expanded in the last quarter, driven by the services and industry sectors at 9.1 percent and 6.3 percent, respectively. Transport, accommodation, food service, and other services have shown continued yet slow signs of recovery to their pre-pandemic levels. Meanwhile, the agriculture sector remained weak at 0.2 percent growth as the sector remains vulnerable to natural calamities and rising input costs.

Given the agriculture sector's weak performance, the government will provide support through lower input costs, access to new farming technologies, financial assistance to farmers, and strengthening the agricultural value chain.

Meanwhile, the manufacturing sector's growth decelerated to 2.1 percent in the second quarter, down from 22.4 percent in the same quarter last year. The slowdown was due to the weaker growth in computers, electronic and optical products, chemical and chemical products, and food products. The slowdown may be due to inflationary pressures brought about by the Russia-Ukraine war, weakening global demand, and supply chain disruptions brought by lockdowns in China.

We are also pleased to note the recovery of the services sectors that have been hit hard by the COVID-19-induced restrictions.

The trade sector grew by 9.7 percent in the second quarter from 5.4 percent in the same period last year. The increase in foot traffic in retail and recreation centers, given improvements in mobility and easing of border restrictions, supported the faster growth in wholesale and retail trade.

The transport sector exhibited faster growth of 27.1 percent this year from 24.3 percent in the same period last year. The acceleration confirms the data from Google Mobility, showing that visits to public transport stations, workplaces, and retail and recreational places are already above pre-pandemic levels since the second half of May 2022.

Both accommodation and food & beverage service activities sustained double-digit expansion during the reference period. Colliers reported that the average hotel occupancy for the first half of 2022 rose to 47 percent, attributing the increase to the return of business travel, easing of travel restrictions for fully-vaccinated travelers, and an upbeat staycation market driven by leisure travels by locals.

Meanwhile, other services grew by 39.5 percent in the second quarter, up from 37.6 percent last year. Robust output growth is seen in the arts, entertainment, recreation, and other service activities.

Given this evidence, we are committed to pursuing the country's full reopening, including the return of face-to-face schooling to address the learning losses and increase domestic activities. This push will begin with the health sector's efforts to increase booster uptake. Recently, the Department of Health launched the "PinasLakas" campaign, which aims to boost 50 percent of the 78 million target population within the first 100 days of the Marcos administration. This move will allow more areas to de-escalate to Alert level 1 and, eventually, the complete removal of restrictions that hinder economic activity.

The full reopening of the economy will indeed generate more income-earning opportunities. But the purchasing power of that income may be eroded by the high inflation, primarily resulting from increased fuel and food costs. Consequently, the government is focused on ensuring food security and reducing transport, logistics, and energy costs. The Department of Budget and Management has recently approved the release of the second tranche of the Targeted Cash Transfer Program, which amounts to 4.1 billion pesos and will benefit four million Filipino families. The distribution of targeted subsidies for PUJ drivers and operators, including tricycle drivers, and fuel discounts to farmers and fisher folk will help cushion the impact of elevated oil prices on vulnerable groups.

Going forward, we will embark on a mission of transformation that will further strengthen our domestic economy and result in a prosperous, inclusive, and resilient society. A big part of the transformation is digital transformation. Government processes will be more efficient and business- and people-friendly. We will begin bridging the digital divide immediately since we have seen how it can facilitate transactions and connections, provide other ways of producing and delivering goods and services, improve access to learning opportunities, and so on. We will expedite the issuance of the National ID to support the country's digital transformation. We are closely working with our colleagues at the Bangko Sentral ng Pilipinas and the PSA to ramp up the National ID rollout and meet the target of releasing 92 million national IDs by 2023, as directed by the President.

There will be many more transformations in the social and economic sectors. The overall goal is to reinvigorate job creation and reduce poverty.

These strategies and corresponding targets will all be elaborated in Philippine Development Plan 2023-2028, which the President has directed to be completed within the year. I hope to be able to present substantial updates to you at the next GDP press conference.

Yes, the road ahead is difficult, but it is surmountable. NEDA is working hard to formulate the best possible plans and policies that can overcome the challenges before us. We are committed to achieving sustained and inclusive growth amid the uncertainties and risks in these trying times. After all, matatag, maginhawa, at panatag na buhay is the future that every Filipino deserves.

Thank you, and have a pleasant day to all!

- END -

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STATEMENT OF NEDA SECRETARY ARSENIO M. BALISACAN ON THE PHILIPPINE ECONOMIC PERFORMANCE FOR THE SECOND QUARTER OF 2022 - National Economic and Development Authority

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STATEMENT OF THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY ON THE PHILIPPINE ECONOMIC PERFORMANCE FOR THE SECOND QUARTER OF 2022 NEDA SECRETARY ARSENIO M. BALISACAN AUGUST 9, 2022 Colleagues in government, friends from the media, fellow Filipinos, Good morning!

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The Philippines Economy: The Davao Powerhouse (RESEARCHED BY: BLESSY JADE S. ABELLA)

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URL:
https://youtu.be/XsBxlHJbS-A
TITLE:
The Philippines Economy: The Davao Powerhouse
AUTHOR:
Behind Philippines
DATE PUBLISHED:
August 3, 2022
KEY INFO:
It exemplifies Davao City's ability to attain national status. Since it is a component of the East Asian Growth Area and is one of the biggest and fastest expanding rural communities that has benefited from this program by a collaboration between the Philippines, Indonesia, Malaysia, and Brunei, Davao City has become a significant economic force. Aiming to promote growth in the four countries' rural areas, it was founded in 1904. From 15.7% in 2005 to less than 8.9% in 2021, the Davao economy has successfully lowered the city's poverty rate. While the poverty rate in the Davao region itself also decreased, from 17.8% in 2018 to 13.6% in 2021. The agriculture sector continues to be a major contributor to the Davao economy. The financial, business, trade, commerce, and industrial hub of the entire island of Mindanao is Davao City.

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The Philippines Economy: The Davao Powerhouse

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A healthy economy should be designed to thrive, not grow | Kate Raworth (RESEARCHED BY: DANIELLE ALEXEI K. JALA)

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URL: https://www.youtube.com/watch?v=Rhcrbcg8HBw
TITLE: A healthy economy should be designed to thrive, not grow
AUTHOR: TED
DATE: Jun 5, 2018
KEY INFO: The video states that it is a double-sided challenge to meet the needs of all within the needs of the planet. It is represented by a graph. “The one donut that might actually be good for us.” Require economies that operate with the natural environment, regenerate biological and technical materials, and replenish resources. As stated in the video, "We cannot let our collective resources overshoot the outer circle."

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A healthy economy should be designed to thrive, not grow | Kate Raworth

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The Philippine Economy (RESEARCHED BY: JUSTIN LIAM GESTUVEO)

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https://books.google.com.ph/books?id=O_L9k58WM9UC&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false
TITLE: THE PHILIPPINE ECONOMY, DEVELOPMENT, POLICIES AND CHALLENGES
AUTHOR: Arsenio M. Balisacan, Hal Hill
DATE: March 6, 2003
KEY INFO:
This book examines all major facets of the Philippine economy and development policies this book look both past, present and future and it explains it to the reader well, and it identifies major policy issues and it highlights future challenges that need to be addressed if the country wants to make itself sustainable, durable, and equitable. The book also offers from the country's development experience which may be known by other countries.

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This book examines all major facets of the Philippine economy and development policy. Contributors to this volume look both to the past and to the future, and their approaches are variously descriptive, analytical, interpretive, and comparative. The book assesses trends since the 1980s, identifies major policy issues, and provides a balance sheet of achievements and deficiencies over the past decade and beyond.

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Review of the Philippine Economic Situation and Analysis of the State of the Nation in 2021 RESEARCHED BY: (HESSIANA VILLEJO)

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URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3886260
TITLE: Review of the Philippine Economic Situation and Analysis of the State of the Nation in 2021
AUTHOR: Philip Arnold Tuaño, PhD
DATE PUBLISHED: July 14, 2021
KEY INFO:

The paper talks about how the government's economic strategy was founded on the expansion of the national infrastructure program also known as Build-Build-Build. The program was funded by public revenues brought by the tax reforms for acceleration. This is relevant to the research topic because it talks about development oriented programs/policies such as the Build-Build-Build program that promotes growth in the economy.

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36 Pages Posted: 10 Aug 2021

Date Written: July 14, 2021

Abstract

At the start of its term, the Duterte administration reaped the benefits of the Philippines' momentum of economic growth and poverty reduction; the country's GDP continued to expand at above six percent during the 2016 to 2019 period while poverty incidence significantly declined to 16 percent in 2018. The government's economic strategy was founded on the expansion of the national infrastructure program popularly known as the Build-Build-Build, funded by additional public revenues brought about by the Tax Reforms for Acceleration and Inclusion which it planned to further accelerate the country's growth path. However, the COVID-19 pandemic shock in 2020 has dented this trajectory and impaired the short-run prospects of the country; at the same time, the lack of a robust fiscal response to the social and economic impacts of the pandemic may have further diminished the ability of the country to immediately continue its pre-pandemic growth trajectory. This paper illustrates the current economic situation in the country and lays down key recommendations for the final year of the Duterte administration.

Keywords: Philippines, Economy, Duterte

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review of the philippine economic situation and analysis of the state of the nation in 2021

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Review of the Philippine Economic Situation and Analysis of the State of the Nation in 2021

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36 Pages Posted: 10 Aug 2021 Date Written: July 14, 2021 At the start of its term, the Duterte administration reaped the benefits of the Philippines' momentum of economic growth and poverty reduction; the country's GDP continued to expand at above six percent during the 2016 to 2019 period while poverty incidence significantly declined to 16 percent in 2018.