Miscellaneous Knowledge Notes
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Publication
Philippines Monthly Economic Developments, August 2023
(Washington, DC: World Bank, 2023-08-22)Gross domestic product (GDP) growth moderated to 4.3 percent in Q2 2023 owing to a slowdown in domestic and external demand. Manufacturing and services continued to weaken in June, although leading indicators suggest a stronger expansion in July. External demand for goods exports softened in June amid slowing global activity, while soft domestic demand led to a contraction in goods imports. The fiscal deficit narrowed in Q2 2023, as public spending declined due to ongoing fiscal consolidation and delays in budget execution. Labor market conditions remained strong, despite an uptick in unemployment and underemployment. -
Publication
Towards an Inclusive Recovery from COVID-19 Impacts: A Policy Brief
(World Bank, Washington, DC, 2022-11)Coronavirus (COVID-19) partly reversed gains made in three decades of sustained decline in poverty and a decade of accelerated reduction in inequality in Philippines. Although the economy is recovering gradually, there are signs that the recovery may be uneven. Income recovery also seems to be slower for the poor. The COVID-19 pandemic may have long-term negative impacts on development of human capital. To manage the pandemic shock, a considerable number of poor households have relied on such adverse coping mechanisms as reducing food consumption, which may aggravate already prevalent child malnutrition and stunting. Policy needs to be directed to support an inclusive recovery and to address enduring medium to long term impacts of the COVID-19 pandemic. -
Publication
Philippines Monthly Economic Developments: August 2022
(Washington, DC, 2022-08)The Philippine economy expanded by 7.4 percent in the second quarter of 2022, anchored on robust domestic activity. The strong domestic environment stood in contrast with the weak external conditions which led to the modest growth in manufacturing and exports. In July, headline inflation further accelerated due to rising food and energy prices, and second-round effects from high fuel cost. To address inflation, the authorities have raised its key policy rates, rolled out fuel subsidy to vulnerable groups including public utility jeepney drivers and operators, farmers and fisherfolks, and provided cash transfers to poor households. -
Publication
Impacts of COVID-19 on Communities in the Philippines: Results from the Philippines High Frequency Social Monitoring of COVID-19 Impacts Round 2, April 8-14, 2021
(World Bank, Washington, DC, 2021-08-23)The brief outlines the finding from the second round of a high frequency social monitoring survey that aimed to assess the impact of COVID 19 (coronavirus) pandemic on the poorest and most vulnerable rural communities. The survey also aimed to determine the level of understanding and source of information of the communities pertaining to the COVID 19 vaccine. The second round of phone-in survey was conducted April 4-13, 2021 and across National Community Driven Development Project (NCDDP, implemented by community DSWD) communities in nine regions in Luzon, the Visayas and Mindanao. Some of the views and observations from the respondents included : Communities were markedly concerned about vaccine safety and effectiveness and looked to doctors and health practitioners for information about vaccination plans. Getting vaccinated would likely be difficult for seniors, persons with comorbidities, and children because of health reasons. Communities preferred food, cash, and livelihood assistance. -
Publication
Impacts of COVID-19 on Firms in the Philippines: Results from the Philippines COVID-19 Firm Survey conducted in November 2020
(World Bank, Washington, DC, 2021)The findings are based on the survey of 13,878 firms conducted from November 26 to December 10, 2020, to assess the impacts of COVID-19 on firms. This survey builds on a government survey in April 2020 and the World Bank-government joint survey in July 2020, both of which benefit from a large sample size and present a nationwide representative snapshot of firms in the Philippines. Easing of the community quarantine has led to more businesses reopening (63 percent in November vs. 45 percent in July), but with only a small proportion operating at full capacity (9 percent). While some managers closed businesses in compliance with government regulation (9 percent), others voluntarily closed their businesses (21 percent) despite eased community quarantines. About 7 percent of firms reported to have closed permanently. Reduction in sales has continued for firms. 67 percent of firms reported a reduction in sales between July and November 2020, compared to 88 percent between April and July 2020. The main reason for decreased sales is limited operation (58 percent) and inability of customers to come to establishments (38 percent). Downward adjustments of employment continued in November 2020 (38 percent), albeit at a slower pace than in July 2020 (50 percent). Significant shares of firms also made adjustments on the intensive margin, reducing hours (19 percent) and wages (16 percent). Only 3 percent of firms hired new employees. A large share of firms reported acute liquidity constraints, with reports of not having enough cash and having fallen behind in payments. 66 percent of firms did not have enough cash to pay all costs and payments such as payroll, suppliers, taxes or loan repayment beyond 1 month. Two thirds of firms had adjusted loan repayment terms, and 48 percent of firms were in arrears, with an additional 29 percent expecting to be in arrears by February 2021. Despite firms expressing cautious optimism that sales and employment will increase over the next 3 months, many expect their financial positions to worsen. -
Publication
Boosting Human Capital in the Philippines through Conditional Cash Transfers
(Global Delivery Initiative, Washington, DC, 2020-05)Human capital is the Philippines’ most important resource. By the late 2000s, remittances from skilled and semi-skilled Filipinos working abroad were increasingly vital for many families, even as the country became one of the preferred destinations for foreign enterprises looking for educated workers in countries where their business processes could be outsourced. There were concerns, however, that the Philippines was beginning to lose its human capital edge because of critical gaps in access to social services and in the quality of those services. The Philippines responded to this by adopting an ambitious national social agenda aimed at putting it on a more robust development path. This agenda included lengthening the secondary education cycle and creating a social health insurance program for all citizens, a population management program, and a conditional cash transfer program (King 2020). This delivery note focuses on the conditional cash transfer program. Called the Pantawid Pamilyang Pilipino Program, which roughly translates into “building bridges for Filipino families” (Schelzig 2015), the initiative, first implemented in 2007, was designed to assist the poor by directly providing them with money. Unlike conventional social assistance programs, however, the beneficiaries received the grants only if they fulfilled certain conditions. Those conditions include enrolling their children in school and ensuring that they maintain attendance rates of at least 85 percent, taking their children on regular clinic visits for basic health services (such as immunization and growth monitoring), and regularly attending sessions where the beneficiaries learned about topics such as family planning, good citizenship, and financial literacy (Kandpal et al. 2016). -
Publication
Valuing the Protection Services of Mangroves in the Philippines
(Washington, DC: World Bank, 2017-07)Mangroves and other coastal ecosystems act as natural defenses to reduce the risks from flooding, erosion and natural disasters. Yet the value of these habitats is often not fully accounted for in policy and management decisions, and thus they continue to be lost at alarming rates. Using natural capital accounting, we can measure and value the services provided by these coastal ecosystems, and thus inform policies for sustainable development, disaster risk reduction, and environmental conservation. A new report measures and values the coastal protection benefits of mangroves in the Philippines. -
Publication
Understanding the Role of Forests in Enhancing Livelihoods and Climate Resilience: Case Studies in the Philippines
(World Bank, Washington, DC, 2017-03)This policy brief presents the findings of a recent study focusing on two important aspects of forest ecosystems: how forest ecosystems help enhance people’s resilience to climate impacts, and how forest ecosystems support livelihood development for the poor.