THE country’s economic performance in the second quarter of the year may not be as robust as the first quarter “as employment flattened,” according to a local think tank.
The think tank noted that the large increase in the percentage of workers rendering less than 40 hours—by 9.7 percent to 44.2 percent—led to the rise in underemployment rate. “While exports remain in the doldrums, imports have plunged as well and so the trade deficit for Q2-2023 will likely slip from the same quarter in 2022 and may positively contribute to GDP growth,” the think tank, however, said.
Further, the double-digit increase in national government spending in April is expected to boost aggregate demand in the Philippines.
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