by Lawrence Agcaoili – The Philippine Star, 30 Aug 2021
MANILA, Philippines — The Philippines remains a laggard in the Association of Southeast Asian Nations (ASEAN) in terms of real gross domestic product (GDP) growth despite the strong double-digit expansion in the second quarter of the year, according to the DBS Bank Ltd. of Singapore.
In a report, DBS said most member countries of the ASEAN including the Philippines are grappling with the highly contagious COVID-19 variant, prompting strict mobility restrictions.
“Real GDP levels, however, are still largely below pre-pandemic levels (2019 end of period). The Philippines remains the regional laggard,” it said.
Real GDP measures a country’s total economic output, adjusted for price changes.
The Philippines exited the pandemic-induced recession after booking a GDP growth of 11.8 percent in the second quarter.
However, DBS said the Philippines’ economic growth in the second quarter was due in part to favorable base effects. The Philippines shrank by a record 17 percent in the second quarter of last year as the government imposed the longest and strictest lockdown in the world when Luzon was placed under enhanced community quarantine in mid-March last year.
DBS said unemployment rates in ASEAN remain above pre-pandemic levels and is most elevated in the Philippines.
“A prolonged pandemic raises the risk of long-term labor market scarring,” the bank said.
It’s women’s month!
“Support women every day of the year!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
