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- Existing problems in the Philippines include12:
- Economic challenges due to the pandemic, including halted growth momentum, rising unemployment, and uneven recovery.
- Poverty, which rose to 18.1 percent despite government assistance.
- Recession, with the economy contracting by 4.2% year-on-year in the first quarter of 2021.
- Weak domestic demand, driven by containment measures, weak confidence, and rising inflation.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The pandemic halted economic growth momentum in 2020, and unemployment shot up in industries that require inperson work. In 2021, poverty rose to 18.1 percent despite large government assistance. The economy has begun to rebound but signs are emerging that the recovery will be uneven.www.worldbank.org/en/country/philippines/publicati…The economy remained in recession, contracting by 4.2% year-on-year in the first quarter of 2021. The growth contraction was fueled by weak domestic demand, driven by the combination of containment measures, weak confidence, and rising inflation.www.worldbank.org/en/country/philippines/publicati… - People also ask
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- Problem #1: Poverty and Inequality
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