Under Duterte, econ slowing and job creation the lowest since after Marcos–IBON

Features Philippines Jan 25, 2019 at 4:11 pm

P41_2019_0115_Dutertes-Debt-Borrowing-BingeResearch group IBON said that the economy is slowing under the Duterte administration and that its first two full years registered the lowest level of job creation among post-Marcos administrations. The group said that these obvious signs of the country’s troubled economy should be enough to make the government reconsider its overly market-driven policies.

Budget secretary Benjamin Diokno recently announced that the Duterte administration had the highest level of economic growth among the post-Marcos administrations.

IBON however pointed out that the economy is actually faltering and the jobs crisis worsening under this administration.  Economic growth has been slowing since the start of the Duterte administration, and is heading to its lowest in three years. Gross domestic product (GDP) growth was 6.7% in 2016, slowed to 6.6% in 2017, and is down to 6.3% in the first three quarters of 2018, said the group.

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