Philippines

The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.

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The Philippine roadmap for inclusive, balanced, long-term growth is aligned with environmental, social and governance (ESG) principles and the UN Sustainable Development Goals (SDGs).

The Philippine tobacco industry accounted for roughly 6% of tax revenue in 2020, and 58% of so-called sin tax receipts.

With China’s economy slowing on the back of a strict Covid-19 containment strategy, there are concerns about the effects this might have on several emerging markets.

A number of remittance-focused financial technology (fintech) start-ups are gaining traction in emerging markets. In doing so, they are making inroads on market share that was formerly the preserve of established financial service providers.

Emerging markets were at the forefront of last year’s massive growth in global cryptocurrency adoption. With this growth widely tipped to continue into 2022, a range of countries will see their crypto markets mature or expand.

From lockdowns to remote work and widespread job losses, the Covid-19 pandemic has dramatically changed the way people work. These interruptions are likely to have a significant impact on the global labour market well into the future.

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