ECONOMIC managers of President Ferdinand Marcos Jr.’s administration warned on Wednesday, August 16, 2023, about the negative impact of the proposed P150 across the board daily...
ECONOMIC managers of President Ferdinand Marcos Jr.’s administration warned on Wednesday, August 16, 2023, about the negative impact of the proposed P150 across the board daily wage hike increase.
Balisacan said the country’s gross domestic product is seen to slow down by .2 to .9 percent, while the unemployment rate may increase by .3 to one percent if the proposed measure is passed.The country’s growth rate decelerated to 4.3 percent during the second quarter of 2023, from April to June, from 6.4 percent during the first quarter, and 7.5 percent during the same period last year.The administration targets to achieve a six to seven percent GDP growth for 2023.
The country’s inflation further eased at 4.7 percent in July, from 5.4 percent in June and 6.4 percent in July 2022. In May, Zubiri said the proposed measure was already approved in principle by the Senate Committee on Labor, Employment and Human Resources.
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