PhilHealth members will have access to more benefits, but will come with a higher price tag. As a result, several countries have taken a variety of measures from mass testing, travel/border restrictions, to lockdowns in a bid to contain the virus. The economy faced highs and lows, and Philippine business had to deal with deaths of taipans and new taxes. In 2020, growth is expected to level at 6.6 percent. The external sector contributed … Here are some other things to watch out for next year: Vice President Leni Robredo still has to release her report on the drug war from her short stint as co-chair of the Inter-Agency Committee on Anti-Illegal Drugs. Poverty, many Filipinos think that the cause of poverty is the lack of education which is true. But not all was bleak. An additional 3 percent in automatic salary deductions would be imposed on contributors with a monthly salary of ₱10,000 to ₱60,000. In turn, analysts expect the ‪6.5-7.5‬ percent growth goal doable for 2020. The Philippine economy suffered its deepest contraction on record in the second quarter and revised down its forecast for the year amid one of Asia’s strictest lockdowns against the coronavirus. 217 total confirmed cases, 17 deaths, and 8 recoveries. b) The CIA … Before it's here, it's on the Bloomberg Terminal. GDP declined for a second consecutive quarter on a quarter-on-quarter basis, down 15.2%, implying the economy is in recession. Among the measures that the legislature will tackle are the bills that seek to create the departments for overseas Filipino workers and disaster resilience. Dito Telecommunity Corporation is expected to begin commercial operations. House Speaker Alan Peter Cayetano is expected to step down from his post and give way to Marinduque Rep. Lord Allan Velasco, in keeping with a term-sharing agreement brokered by Duterte. “The economic cost of trying to contain the virus is leaving large scars to household and corporate balance sheets, which will weigh heavily on demand for many months to come,” Capital Economics analyst Alex Holmes wrote in a note after the release. Center for American Progress. With more than 100 million people currently living in the Philippines, it is ranked as the 12thmost populous country in the world. The legislative franchise of ABS-CBN expires, if it would not be renewed by Congress or if Duterte decides to veto it. “A failure to contain the virus, continued restrictions to movement and inadequate policy support mean the Philippines is also likely to experience one of the region’s slowest recoveries.”. Philippines: A moral, ethical issue for our people Get link; Facebook ; Twitter; Pinterest; Email; Other Apps; Published Sunday, January 01, 2017 In the ongoing discussion on the death penalty, which President Duterte wants to return so as to strengthen the rule of law, it is useful to note that the world - and the Philippines with it - has long debated this issue in the United Nations. Other highlights from Thursday’s release, compared to year-ago figures: Lawmakers are still deliberating a spending plan and a proposed corporate income tax cut that Duterte is hoping can support families and businesses hit hard by the pandemic. How much does it cost to win an Olympic medal? The number of Covid-19 cases has risen more than sixfold since restrictions were eased in June, making the Philippine outbreak the second-largest in Southeast Asia. Try our corporate solution for free! New ₱5 and ₱20 coins will begin circulation. 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