Econ slowdown due to failed govt policies, may be sign of worse to come–IBON
Econ slowdown due to failed govt policies, may be sign of worse to come–IBON
TRAIN Package 1A: From the poor to the rich
IBON.org
Research group IBON said that the government should take the economy’s 3rd quarter growth slowdown as showing what needs to be improved in its economic policies instead of being dismissive about it. Its flagship Build, Build, Build will only be a short-term boost to the economy at best and direct measures to strengthen domestic agriculture and build Filipino industry are needed. The group noted with alarm that the economic managers are still pushing the same neoliberal framework that has weakened domestic production to begin with.
IBON pointed out that the economy’s acclaimed higher growth trajectory since the 2000s has actually been slowing in the last two years of the Duterte administration. Previously accelerating growth in gross domestic product (GDP) plateaued at 7.1% in the third quarter of 2016 and 7.2% in third quarter of 2017 before markedly slowing to the recently reported 6.1% in the third quarter of 2018.
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