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The Philippine economy fell into recession for the first time in 29 years with a record slump in the second quarter, as strict lockdown measures ravaged economic activity and prompted the ...
The incident was the two countries' latest run-in regarding the Scarborough shoal, a fishing ground within the Philippines' exclusive economic zone that China claims as its territory.
November 28, 2024 [77] 79 Establishing the Mahalin At Kalingain Ating Mga Bata (MAKABATA) Program, and institutionalizing the MAKABATA helpline 1383 December 6, 2024 [78] 80 Implementing the Philippine schedule of tariff commitments under the Philippines-Korea Free Trade Agreement, and modifying the rates of import duty on certain imported articles
The coronavirus outbreak will likely send the Philippine economy into its first annual contraction in more than two decades this year, before it pulls back up for a U-shaped recovery in 2021, the ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [30] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
November 11 – President Marcos signs into law Republic Act No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, imposing a series of investment and fiscal reforms to promote economic growth.
November 17: Philippines–United States relations: The Philippines and the United States signs a landmark deal that would allow the latter to export nuclear technology and material to the former, which is exploring the use of nuclear power to decarbonize and boost energy independence. [215] [216]
The Philippine economy contracted by 0.2% in the first quarter of 2020, for the first time since 1998, due to the COVID-19 pandemic and resulting lockdown. [196] Fitch Ratings downgraded its outlook on the Philippines to factor in the impact of the global health crisis brought about by the coronavirus disease 2019 (COVID-19). [197]