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On the second quarter of 2020, the Philippine economy went into a recession for the first time in 29 years, where it shrank by 16.5%, which was one of the biggest falls in the Southeast Asian region. GDP fell by 9%. Seasonally adjusted GDP fell by 15.2 percent in the second quarter from the first three months of the year. [46]
MANILA (Reuters) - Philippine lawmakers are considering efforts to amend the country's constitution to ease restrictive provisions on economic ownership, a top congressional leader said on Monday.
Duterte mentioned other actions which he considered as his administration's accomplishments including the extension of the validity of driver's licenses to 10 years, going after water concessionaires, and improvements in the Philippine economy prior to the onset of the pandemic. [8]
House Secretary General Reginald Velasco said that he expected about 2,000 guests will attend the speech, making it the largest SONA by attendance. [2] There were 1,814 seats in the plenary. [4] Former presidents Joseph Estrada and Gloria Macapagal Arroyo, who is also the incumbent representative from Pampanga's 2nd district, attended the SONA. [5]
The region's contribution to the national economy remains at 2.2 percent. The decline in 2009 was largely due to heavy rains and infestation of pests and deceases in major production areas. The biggest contributor to the regional economy is the agriculture and fishery subsectors which account for 33.5 percent of the region's GRDP. [51]
MANILA (Reuters) -Philippines President-elect Ferdinand Marcos gave strong indications that he will maintain continuity in economic policy through his picks for central bank governor and finance ...
MANILA (Reuters) -The Philippines' national security adviser called on Friday for Chinese diplomats to be expelled over an alleged leak of a phone conversation with a Filipino admiral in a ...
The Philippine economy is the world's 34th largest, with an estimated 2023 nominal gross domestic product of US$435.7 billion. [13] As a newly industrialized country, [375] [376] the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.