How income inequality in the Philippines compares with other economies

Source BusinessWorld

Nearly half or 44 million of the Philippine population are considered economically secure but the country remains one of the most unequal in the world, according to the World Bank...

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The Department of Finance (DOF) said the government’s fiscal indicators are improving as the increase in the deficit to GDP ratio slowed and revenue generating agencies hit double-digit growth in their collections...

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Foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) turned positive in October, snapping a four-month run of net outflows that began in May...
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The Philippines, along with Vietnam, is expected to grow fastest among Southeast Asian economies next year even as the bloc’s expansion will slow down, according to Moody’s Analytics...
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Despite steady progress for three decades, the Philippines still struggles to close one of the widest wealth gaps in East Asia, with the country ranking 15th out of 65 countries in terms of inequality, the World Bank found in a study released Thursday...

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The Government plans to borrow P135 billion from the domestic market in December, the Bureau of the Treasury (BTr) said...

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Ride-hailing giant Grab Philippines is asking lawmakers to approve a law that will legalize and regulate the operations of motorcycle taxis to open up the industry to additional players...

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The government and the private sector are threshing out a number of issues related to the extension of the Comprehensive Automotive Resurgence Strategy (CARS) program, including the grant of perks to electric vehicles...

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To help reduce the country’s carbon emissions and dependence on oil, the National Economic and Development Authority (Neda) is now pushing to make certain electric vehicles (EV) tariff-free...

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The Bureau of Fisheries and Aquatic Resources (BFAR) will start its crackdown on imported frozen fish on Dec. 4, 2022 amid the proliferation of imported frozen fish such as pampano, salmon and squid in the wet markets...
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The National Economic and Development Authority (NEDA) Board has approved an executive order (EO) modifying tariffs on electric vehicles (EVs) along with guidelines on the processing of public-private partnership (PPP) proposals, the agency announced on Thursday...
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The Department of Environment and Natural Resources (DENR) should come up with better incentives and regulations to help pocket miners who have not been earning enough despite the risks of digging through small tunnels, a former government official said here...
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Two House of Representatives committees have formed a technical working group (TWG) to study and consolidate bills seeking to amend a provision in Republic Act No. 7160 or the Local Government Code on the Special Education Fund (SEF)...
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The Philippine Association of Feed Millers Inc. (PAFMI), representing more than 30 feed millers in the country, is calling on the government to extend the reduced tariff regime on imported corn beyond 2022 given the continued volatility, uncertainty and complexity of the global foods, feeds, and fuel supply chain that have caused soaring inflation globally...
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The American military will likely return to Subic Bay, 30 years after leaving what was once their largest military base in Asia, due to concerns over China’s increasing maritime assertiveness, the top official of the Subic Bay Metropolitan Authority told a Japanese news agency...

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Washington has expressed concern over the confrontation between Filipino and Chinese personnel near Pag-asa Island over the weekend, Philippine Ambassador to the US Jose Manuel Romualdez said Thursday...

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The Philippines has sought an explanation from China after a Filipino military commander reported that the Chinese coast guard forcibly seized Chinese rocket debris in the possession of Philippine Navy personnel in the disputed South China Sea, officials said Thursday...

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The Department of Foreign Affairs (DFA), upon the instruction of President Ferdinand "Bongbong" Marcos Jr., on Wednesday sent a note verbale to China to "clarify" the reported tension between the Chinese Coast Guard (CCG) and Philippine Navy (PN) over a rocket debris...
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Israel is offering innovative solutions to help the Philippines improve water resource management and conservation...

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The Philippines has filed 189 diplomatic protests against China this year over their dispute on the South China Sea, the Department of Foreign Affairs (DFA) said on Thursday...

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Air quality in Europe is improving but still poses high risks, the European Environment Agency (EEA) said on Thursday, as fine particles exposure led to at least 238,000 premature deaths in the 27-nation EU in 2020...

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Malaysia's king on Thursday named reformist opposition leader Anwar Ibrahim as the country's new prime minister, ending days of uncertainty after divisive general elections produced a hung parliament...

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Much of Ukraine on Thursday remained without heat or power after the most devastating Russian air strikes on its energy grid so far, and in Kyiv residents were warned to brace for further attacks and stock up on water, food and warm clothing...

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There is now an imminent threat of measles spreading in various regions globally, as the coronavirus disease 2019 (COVID-19) pandemic led to a steady decline in vaccination coverage and weakened surveillance of the disease, the World Health Organization (WHO) and the US public health agency said on Wednesday...

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Saying it was lacking in flexibility, Iloilo Rep. Janette Garin blamed the Health Technology Assessment Council (HTAC) for the wastage of about 31 million doses of COVID-19 vaccines worth P15.6 billion...

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The Energy Regulatory Commission (ERC) is suspending the collection of Feed-In Tariff Allowance (FIT-All) for three months to lower electricity rates...

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The number of people testing positive for COVID in the National Capital Region (NCR) slightly increased over the past week, with a member of the OCTA Research group warning the public against another surge in new cases...

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President Ferdinand “Bongbong” R. Marcos, Jr. wants the new leadership of the Philippine Health Insurance Corporation (PhilHealth) to prioritize the digitization initiatives of the agency to boost the efficiency of its operations...

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The Covid-19 positivity rate in the National Capital Region or Metro Manila has spiked in just one week, OCTA Research said...
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President Ferdinand "Bongbong" Marcos Jr. is doing a good job as the "CEO of Philippines Inc.," Go Negosyo founder Jose Maria "Joey" Concepcion 3rd said...

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The seven-day average of daily coronavirus deaths in the Philippines stood at 12 as of November 21, down from its record from the previous month of 38, independent pandemic monitor OCTA Research Group said...
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The Department of the Interior and Local Government (DILG) has urged local government units (LGUs) to formulate their local anti-drug plan of action (Ladpa) and barangay or village anti-drug plan of action (Badpa) that responds to the needs of their respective localities...

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The Department of Education (DepEd) launched on Thursday its Learner Rights and Protection Office (LRPO) and Telesafe Contact Center Helpline to address child abuse and strengthen child protection...

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Health workers staged a die-in "national day of protest" at the Department of Health's (DoH) headquarters in Tayuman, Manila to call for the immediate release of their benefits...

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President Ferdinand “Bongbong” Marcos Jr. has said the government may resort to providing scholarships for nurses and other medical workers to encourage them to stay and serve in the country...

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Hundreds of health-care workers on Thursday staged a “day of protest” against low wages and government inaction on the overdue payment of their mandatory pandemic benefits...

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The Department of Public Works and Highways (DPWH) has begun the construction of a 15-story building to house the National Labor Relations Commission (NLRC) in Quezon City...
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The local government is lobbying for a 300- to 400-percent increase in tax rates in a bid to fund Mayor Michael Rama’s proposed P50-billion budget for 2023 that would hopefully pave the way for his vision to turn Cebu City into the next Singapore...
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The state of calamity imposed all over the country due to COVID-19 should be extended further until the first quarter of 2023 in light of a possible spike in cases during the holiday season, a group of private hospitals recommended on Thursday...

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More speculative funds flowed into the Philippines than what flowed out in October, ending five straight months of net outflows amid improving global conditions, the Bangko Sentral ng Pilipinas (BSP) reported yesterday...

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Local stocks rose for the third straight session yesterday which, along with other Asian shares, mostly tracked Wall Street higher as markets reacted to the possibility of the US Federal Reserve soon slowing its pace of interest rate hikes...

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The Department of Finance (DOF) said the government’s fiscal indicators are improving as the increase in the deficit to GDP ratio slowed and revenue generating agencies hit double-digit growth in their collections...

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The National Economic and Development Authority (NEDA) has approved a P11.2 billion fisheries project aimed at addressing the problems in the sector, reducing poverty, and ensuring food security...

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The Department of Energy (DoE) said it gladly welcomes the ongoing completion of natural gas projects in Luzon to help stabilize power supply, particularly in 2023...

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Foreign investors helped extend the local stock market’s gains on Thursday following the peso’s comeback...

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ACEN Corp. is pouring in P900 million in additional investment into its two wholly owned subsidiaries to support the ongoing construction of a wind power project in Ilocos Norte...

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Electricity rates are expected to go up starting June next year after all the distribution-related refunds now being implemented by the Manila Electric Company (Meralco) are completed by May 2023...

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The country's commercially viable non-renewable energy reserves — coal, oil, natural gas and condensate in particular — shrank last year but still mostly grew in terms of value, the Philippine Statistics Authority (PSA) said on Thursday...

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An urban development advocate has joined calls for the early completion of the North Luzon Expressway (NLEX) and South Luzon Expressway (SLEX) connector, sharing the belief that it would substantially boost the country’s economy...

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