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Wage hike to cut GDP growth, raise unemployment - NEDA
The Philippine Star
|February 23, 2024
The proposed legislation for a P100 wage increase for private workers could shave up to 0.5 percentage point off the country's economic growth and reverse gains made in lowering inflation and unemployment numbers, according to the National Economic and Development Authority (NEDA).
Speaking at the 2024 Economic Outlook webinar organized by SN Aboitiz Power Inc. yesterday, NEDA Secretary Arsenio Balisacan said the agency believes now is not the right time for a legislated wage hike.
"Our estimate shows that GDP (gross domestic product) growth could be hit negatively. It's something like a 0.1 to 0.5-percentage-point reduction on GDP depending on how it is implemented," he said.
Cette histoire est tirée de l'édition February 23, 2024 de The Philippine Star.
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