For Ibon, the widening gap between the rich and the poor illustrates best the state of the Philippine economy. The P4-trillion net worth of 40 richest Filipinos is equivalent to the income of 54 million Filipinos.
Tags: IBON Foundation
“The Duterte administration is attacking IBON because our research, education and advocacy work exposes Philippine economic realities that the government wants to conceal.”
By DEE AYROSO
It aims to “stifle economic analysis that is inconsistent with its (Duterte administration’s) preferred narrative of growth and development.”
“Join us in our strike on Nov. 29 and show this government our rage.”
The national debt is equal to 48 percent of the 6.8-percent GDP in the first quarter of this year.
“Official unemployment figures do not reflect the discouraged workers or those who have dropped out of the labor force after failing to find work after six months.”
“While there are many reasons for inflation the government only seeks to divert from its direct accountability for TRAIN-induced higher prices by exaggerating the effects of global oil price and the peso depreciation.”
While TRAIN puts more money into the pockets of 5.5 million of the highest-earning 9.1 million households through reduced personal income tax (PIT) and lower estate and donor’s taxes, the price surges in prime commodities and services have begun affecting the overwhelming majority of poor Filipinos without any income tax gains.
The onset of Cha-cha threatens the education sector to the further gain of both local and foreign capitalists.
“What we lost is not just the resources, but what our country could have done to industrialize and provide jobs.”