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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] 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 .
Poverty in the Philippines is a complex issue influenced by various factors, including economic inequality, corruption, and inadequate access to education. The disparity in income across different regions and sectors creates significant barriers for many Filipinos, limiting their opportunities for upward mobility.
Margaux Salcedo is an undersecretary of the Department of Budget and Management in the Philippines. [1] [2] [3] [4]She is part of the Philippine economic team that conducted the Post-SONA Economic Briefing in 2023 [5] and moderated the Philippine Economic Briefing in New York [6] and other major cities around the world as well as the Philippine Economic Briefings in key cities in the Philippines.
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]
Because of this growth, the Western Visayas economy increased its contribution to the gross domestic product in 2009 to 7.6 percent from the 7.3 percent in 2008. [49] In Central Visayas, the long-term goal is for it to be the leading growth center in the country, that would steer the Philippine economy into greater heights.
The show features several guests to analyze the issues of the Philippines, as well as reports and rundown of the day's news. [1] In March 2020, the show was temporarily suspended due to the enhanced community quarantine in Luzon caused by the COVID-19 pandemic. The show resumed its programming on September 21, 2020. [2]
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The Philippines reported that its GDP contracted by 9.5% in 2020, its worst contraction since World War II. The last full-year contraction in the country was in 1998 amidst the Asian financial crisis where its GDP grew by −0.5%. The 2020 contraction was also worse than the 7% contraction in 1984. [388]