US EditionEconomic Managers Warn Wage Hike Bill to Slash GDP Growth - BusinessWorld Online
- The economic team of the Marcos administration warned that a P200 wage hike could reverse inflation progress and harm economic growth in the Philippines, as stated in their joint position paper.
- The House of Representatives approved the P200 wage increase, while the Senate proposed a modest P100 hike; both may lead to increased inflation and unemployment, according to the economic team.
- The economic team urged President Marcos to maintain the current system for wage adjustments and highlighted that regional variations must be considered to avoid widening disparities.
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13 Articles
Economic managers warn wage hike bill to slash GDP growth - BusinessWorld Online
CONGRESS adjourned session on Wednesday without giving the final approval for the proposal to hike the minimum daily wage by P100-P200, after economic managers warned of its “dangerous repercussions” on the Philippine economy. “We express our strong reservations on the proposed legislated wage hikes as these may undermine our recent gains and result in adverse economic and social impact,” economic managers said in a letter addressed to Senate Pr…
P200 wage hike has ‘dangerous repercussions’ - economic team
MANILA, Philippines — The Marcos administration’s economic managers warned of the “dangerous repercussions” of the proposed P200 legislated wage hike, saying the move could stoke inflation and hurt small businesses. In a joint statement on Wednesday, economic officials said a P200 increase in wages could raise inflation by about 2 percentage points (ppts), while a
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