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2022–2023 Philippine sugar crisis. There has been a noted shortage of supply of sugar in the domestic market of the Philippines after a poor harvest of for the 2021–22 crop year. This led to the price increase of the commodity and there has been suspicions of traders taking advantage of the situation through hoarding and/or smuggling.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
The Philippines’ inflation target is measured through the Consumer Price Index (CPI). For 2009, inflation target has been set to be 3.5 percent, having a 1% tolerance level, and 4.5 percent for 2010, also having 1% tolerance. Also, the Monetary Board of the Philippines announced a target of around 4±1 percent from 2012 to 2014.
GrowSari’s new capital will be used to expand its userbase to 300,000 new stores in the Philippines, especially in Visayas and Mindanao, increase the size of its supplier marketplace and launch ...
The richest 10 percent, meanwhile, took a larger share of the income at 41.7 percent in 1980, up from 37.1 percent in 1970. [61] According to the FIES (Family Income and Expenditure Survey) conducted from 1965 to 1985, poverty incidence in the Philippines rose from 41 percent in 1965 to 58.9 percent in 1985.
On July 31, 2022, the Philippines produced 1,792,102 metric tons of raw sugar and 737,254 metric tons of refined sugar, marking decreases of 16.18% and 2.84%, respectively, compared to the previous year. The projected raw sugar production for the crop year 2021-2022 was 1.80 million metric tons, a 16% drop from the previous year’s 2,143,018 ...
The Philippines is allocating 256.1 billion pesos ($4.38 billion) for defence spending in 2025, the budget ministry said on Monday, up 6.4% from this year's budget as the country seeks to ...
The recession was triggered largely by political instability following the assassination of Benigno Aquino Jr., [43] high global interest rates, [44] the severe global economic recession, and a significant increase in global oil price, the latter three of which affected all indebted countries in Latin America and Europe, and the Philippines was ...