Unemployment in the Philippines soared to 17.7 percent in April, equivalent to around 7.3 million jobless Filipinos amid the COVID-19 pandemic, the Philippine Statistics Authority (PSA) announced on June 5.
Traffic in Manila of the Philippines (Photo: Xinhua/VNA)
Hanoi (VNA) – Unemployment in the Philippines soaredto 17.7 percent in April, equivalent to around 7.3 million jobless Filipinosamid the COVID-19 pandemic, the Philippine Statistics Authority (PSA) announcedon June 5.
PSA head Claire Dennis Mapa said in a virtual media briefingthat this is a record high in the country’s unemployment rate, reflecting theeffects of COVID-19 economic shutdown to the local labour market.
Philippine President Rodrigo Duterte has placed Metro Manilaand the rest of the main island of Luzon under lockdown since mid-March to stemthe spread of the virus.
Luzon accounts for 56 percent of the country's populationand contributes 73 percent to the GDP. Other provinces in the central andsouthern Philippines also imposed similar restrictions.
The PSA data showed that the Philippines’ inflation slightlywent down to 2.1 percent in May, as compared to 2.2 percent registered in theprevious month. The country’s inflation now stands at 2.5 percent.
Also on June 5, the Department of Finance said that theWorld Bank and the country reached a loan agreement worth 500 million USD tosupport the poor and those affected by COVID-19.
The fresh loan from the WB adds to a total financial supportof 4.85 billion USD secured by the Philippine government as of May 14.
The country now has 20,382 confirmed COVID-19 cases,including 984 deaths./.
The Philippine government is eyeing a stimulus package worth 846 billion pesos (16.7 billion USD) to enable a full economic recovery from the COVID-19 pandemic, according to Finance Secretary Carlos Dominguez.
The Philippines has suspended the termination of the Visiting Forces Agreement (VFA) with the US, announced Philippine Foreign Affairs Secretary Teodoro Locsin Jr. on June 2.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Traffic in Manila of the Philippines (Photo: Xinhua/VNA)
