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News

  • PH drops in global corruption index The Philippines slipped 14 spots in a global corruption index released by Transparency International. In the Corruption Perceptions Index (CPI) 2019, the Philippines was tied with El Salvador, Kazakhstan, Nepal, Eswatini and Zambia for 113rd place out of 180 countries and territories. The Philippines scored 34 out of 100 in terms of perceived levels of public sector corruption according to experts and businessmen. This was lower than the country’s score of 36 in the CPI 2018, where it ranked 99th. Scoring below the global average of 43, Transparency International said countries with scores like the Philippines have weak election campaign transparency and political power concentrated on the wealthy few.  
  • GDP growth falls to 8-year low in 2019 The Philippine Statistics Authority (PSA) reported that the Philippine economy grew by 6.4% in the fourth quarter, its fastest pace for 2019 on the back of robust household spending and a rebound in government spending, but was not enough to hit the full-year goal. The October-December outcome was higher than the revised six percent in the third quarter and 6.3% in the fourth quarter of 2018. This brought the full-year gross domestic product (GDP) growth to 5.9%, slower than 2018’s 6.2%. The latest full-year reading was the slowest in eight years or since the 3.7% in 2011. It also broke the economy’s seven-year streak of at least 6% growth  

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