A densely populated, low-lying country dominated by floodplains, the country is exceptionally vulnerable to extreme weather. With these targets in mind, the goal is to achieve full and productive employment, and decent work, for all women and men by 2030. Goal 8 Targets. Sustainable Development Goal 8: Decent Work and Economic Growth seeks to promote inclusive and sustainable economic growth, employment, and decent work for all. Sustained and inclusive economic growth is necessary for achieving sustainable development. UN. “Growth back to the 6% handle, gives hope to chase full year growth of 6% alive, but will likely be a close call,” said Nicholas Mapa, a senior economist at ING Groep NV in Manila. “Overall, the 2020 African Economic Conference has provided innovative insights and perspectives on the policy challenges confronting African countries in the era of the COVID-19 pandemic,” said Bartholomew Armah, Acting Director of the Macroeconomics and Governance Division at the UN Economic Commission for Africa. The Philippines has one of the most vibrant economies in the East Asia Pacific region, growing at 6.2% in 2018 and 5.9% in 2019. UNESCO. When businesses are seeing dark days due to the COVID-19 pandemic, organizations in Nepal have been helping women make steady incomes. 8.1 Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries 8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors However, as the global economy continues to recover we are seeing slower growth, widening inequalities, and not enough jobs to keep up with a growing labour force. November 17, 2020. Supports enhancement of the trade and investment environment, greater competition, expansion of priority sectors such as tourism, manufacturing, and agribusiness, infrastructure development, small and medium enterprise finance, accelerating the shift to electronic payments, and improved fiscal policy and management. The Philippines is one of just four countries selected to join the PFG. Philippines Economic Outlook. Established by President Obama, the PFG is a “whole-of-government” effort to unlock the growth potential of partner countries to become the next generation of emerging markets. The Philippines remains one of the fastest-growing economies in Asia, but rising uncertainties, including ongoing U.S.-Sino trade tensions, had put this year's 6-7% growth target at risk. Solar mini-grids to provide cheap and reliable electricity. The Philippines is one of just four countries selected to join the PFG. European Commission. Women’s participation in the labour force stood at 48 per cent in 2018, compared with 75 percent for men. 8. MANILA, Philippines — Despite being relatively insulated from the effects of the coronavirus disease 2019, (COVID-19), the Philippines will likely see slower economic growth in … U.S. Agency for International Development, The Journey to Self-Reliance: Philippines Roadmap, Evaluation Services-USAID Protect Wildlife Activity, U.S. September 27, 2018. Learn how you can get involved and lend a hand. The country’s economic managers said they now expect the economy to shrink 5.5% this year -- down from earlier estimates for a 2% to 3.4% decline -- before rebounding strongly next year. UNDP. © Philippines - Philippines - Demographic trends: The population density of the Philippines is high, but the distribution of the population is uneven. The Decent Work Country Programme (DWCP) Philippines 2020–24 is an integrated strategic roadmap for national stakeholders to lead and implement inclusive growth in the country. In support of the PFG, USAID economic growth assistance: Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News on everything pertaining to technology Economic Growth 6 8.6 387 Technology 7 8.8 855 Inequality 8 9.2 296 Gender Equality 9 10.0 338 Hunger 10 10.6 670 Justice 11 10.8 328 Governance 12 11.6 232 Decent Work 13 12.2 277 Peace 14 12.4 282 Clean Energy 15 12.6 272 Life on Land 16 14.4 250 Life below Water 17 15.0 248 Social Inclusion 18 16.4 22 UNDP programme focuses on teaching employable skills and business development. Over the past 25 years the number of workers living in extreme poverty has declined dramatically, despite the lasting impact of the 2008 economic crisis and global recession. In November 2011, the Government of the Philippines and the United States Government agreed to a new Partnership for Growth (PFG) to address the binding constraints to economic growth and development in the Philippines. That’s well above the 5.5% it hovered around in 2015-16. The DWCP is a product of extensive consultations with tripartite constituents, focusing on three priorities: employment, labour market governance and social protection. Decent work opportunities are good for business and society. Supporting small- and medium-sized enterprises is crucial to achieving inclusive economic growth in the Philippines. Assists the Philippines in meeting its international commitments to promote trade policy reform. ILO. USAID is helping to strengthen the economic competitiveness of second tier cities through a coordinated and integrated set of activities aimed at: USAID is helping to improve the capacity of secondary cities to become engines of growth by: Find out about career opportunities at USAID. The Philippines economy shrank a record 11.5% year-on-year in the third quarter of 2020, following an upwardly revised 16.9 contraction in the previous quarter and worse than market expectations of a 9.8 percent contraction, as the coronavirus pandemic impacted businesses and consumers. Amidst rising global uncertainty and inflationary pressures, the Philippine economy is poised to remain strong and is projected to grow at 6.5 percent in 2018, 6.7 percent in 2019, and 6.6 percent in 2020. At this year's Photoville exhibit in New York City, UNDP showcases the work of eight leading photographers as they document the effects of a pandemic.…, Giving vulnerable Bangladeshis the resources to cope with climate change. Timely measures are important to cushion against the health and economic shocks and protect the most vulnerable people. Private consumption dropped 9.3 percent (vs -15.3%) and fixed investment contracted 37.1% (vs -36.5% in Q1). It supports institutional reform at the national and local levels to mobilize domestic and foreign investment. FAO. The U.S. Government’s partnership with the Philippines supports the priorities of the Philippine Development Plan to achieve inclusive and resilient economic growth. Make a general inquiry or suggest an improvement. Increasing local capacity to manage urbanization and growth, Enhancing the enabling environment for local enterprise development. 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