A total of 412,753 workers from 10,947 establishments were displaced in 2022. This is based on data from the Department of Labor and Employment (DOLE) which monitors the level and nature of job displacements nationwide based on the establishment reports submitted through their Online Establishment Reporting System (ERS) launched in July 2020.
For years, the manufacturing sector has been an important driver of Philippine economic growth. Following the COVID-19 pandemic which has disproportionately affected several micro, small, and medium enterprises (MSMEs), this report presents indicators on the performance of the manufacturing sector in recent years.
The Philippines’ increasing demand for meat products has and will continue to outpace local production wherein it is estimated to grow by 28.67% to 5.197 million metric tons (MMT) in 2028 (OECD, 2019). This consumption is higher than projected local meat production of 4.276 MMT for the same year. As such, the country is expected to increase its reliance on meat importation to fill in supply gaps (NEDA, 2019).
The National Single Window (NSW) concept, a system that integrates and automates traderelated procedures, has been recognized by various countries as an effective measure to facilitate trade. For the Philippines, its endeavor to establish its NSW began in 2005 and was met with limited success. Given increasing recognition of the NSW’s importance in the country’s effort to digitalize to become resilient in the face of the continuing global health threats and supply chain disruptions, renewed efforts to put in place the new NSW called the TradeNet should be accompanied by its institutionalization.
Even prior to the pandemic, the youth aged 15 to 24 years registered relatively higher unemployment rates compared to other age brackets. This problem was magnified during the pandemic as the youth were employed in the most affected sectors—retail, services, and tourism. This paper looks into the problem of youth unemployment. Current policies and programs are analyzed to possibly identify gaps that will help improve intervention. Policy proposals are also presented to help reduce youth unemployment in the country. KEYWORDS:
The study estimated the total price elasticity of demand for cigarette and select alcohol products in the Philippines as an important input for tax policy aimed at reducing alcohol and cigarette consumption and raising much needed government revenues. The estimation was conducted by applying autoregressive error regression on the quarterly time series data of the volume of removals and retail prices of cigarettes and alcohol products in the Philippines over the period 2012 to 2021. The study supports the findings of earlier studies that cigarette consumption is price inelastic. Price elasticity of demand for cigarettes is about -0.83, meaning that a 1% price increase could lead to a 0.83% decrease in consumption. Results for price elasticity of demand for beers is elastic at 1.48, meaning that a 1% increase in the price of beer would produce a 1.48% decrease in consumption. Furthermore, it was found that price elasticity of demand for distilled spirits appears to be unit elastic while wine is highly elastic at 1.03 and 8.51, respectively. The models developed in this study are free from problems on specifications such as serial correlation and heteroscedasticity. Policymakers may consider these results in view of future excise tax reforms.
UPDATED AS OF 23 SEPTEMBER 2022. Table 9. Obligations-Appropriations Ratio and Unused Appropriations has been updated to reflect the Transfers from Overall Savings of OSEC in FY 2020. The Agency Budget Notes (ABN) on the Department of Agriculture contributes to the making of more informed reviews and deliberation of the proposed budget of the Department submitted to Congress. The ABN provides budget-related information on agency plans and programs, physical accomplishments and financial management of prior year’s appropriations. This publication also highlights the results of program evaluation by other research institutions, as well as the audit findings and status of compliance of agencies to recommendations of the Commission on Audit. The ABN examines the past, current and proposed budget in terms of allocation by program/project, type of expenditure (i.e., current expenditures and capital outlay), and shares of regional offices.
The country’s economy, which took the brunt of the impact of the COVID-19 crisis, is slowly recovering as the government ramps up its public spending and lifts restrictive policies to absorb the socio-economic shocks of the pandemic. In the inaugural budget message of the Marcos Jr. Administration, it has promised to deliver an Agenda for Prosperity by continuing the gains of the previous administration in infrastructure development and by accelerating support to the education, agriculture, and health sectors.