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Senate Economic Planning Office (SEPO) Publications
Budget Notes
 Dimensions of the Proposed 2024 National Government Budget
November 2023 (543 KB)
The dimensions of the budget encompass the intricate distribution of government resources across sectors, departments and key development programs and projects. An analysis of these dimensions will provide a nuanced understanding of how the budget's different facets interact to impact the country's fiscal and socioeconomic landscape.
 Macroeconomic and Fiscal Assumptions of the Proposed 2022 Budget
September 2021 (1.2 MB)
The Philippines continues to struggle with the Covid-19 pandemic and the economic and social disruption it has caused. While the domestic economy expanded in the first semester of 2021, growth remains fragile, and where recovery is weak, fiscal policy can strengthen it.
 Macroeconomic Assumptions of the Proposed 2020 Budget
August 2019 (1.6 MB)
The proposed national budget for 2020 amounts to PhP4.1 trillion. This is 12.0 percent higher than 2019’s budget of PhP3.6 trillion and will account for 19.4 percent of Gross Domestic Product (GDP) in 2020.
 Macroeconomic and Fiscal Assumptions of the Proposed 2017 National Budget
September 2016 (1 MB)
The successful implementation of the budget plan is hinged on a set of macroeconomic assumptions approved by the Development Budget Coordination Committee (DBCC). These are indicators by which government determine the viability of the budget -- whether the proposed expenditure program is reasonable and sustainable and whether there are sufficient fiscal resources to fund it.
 The President’s 2013 Budget: The Macroeconomic and Fiscal Perspectives
August 2012 (859KB)
A day after his third State of the Nation Address (SONA), President Benigno S. Aquino III submitted to Congress his proposed PhP2.006-trillion national budget for the fiscal year 2013. Next year’s budget is touted as an “Empowerment Budget” with the overarching theme Paggugol na Matuwid: Atas ng Taumbayan.
Policy Matrix
 Land Use: Policy, Planning, and Administration
October 2015 (753 KB)
Comparison matrix of land use policies/provisions from various existing national laws and issuances
Land is a fundamental material resource and the primary platform for economic and other social activities. The way land is used and how it is intended to be used are integral components of human development.
Policy Brief
 Capital Markets Reform: Enhancing Investment Through CMEPA
November 2024 (987 KB)
Capital markets drive economic growth by enabling capital formation, investment diversification, and financial inclusion. Modernizing the tax framework and streamlining regulations are essential to enhance market efficiency, attract investors, and sustain economic development.
 Call of Duty: Reforming the MUP Pension System
October 2024 (703 KB)
The MUP pension system is essentially in debt by PhP14 trillion, up from PhP9.6 trillion in 2019.
Reforming the MUP pension system requires close collaboration among the administration, senior military and uniformed service leaders, and Congress, along with a shared commitment to invest political capital.
 Blue Economy Policy: Harnessing Ocean Wealth for Sustainable Growth
September 2024 (1.3 MB)
How can the Philippines transform its vast marine resources into engines of sustainable economic growth? A policy framework on the Blue Economy offers a strategic roadmap for harnessing the ocean's potential, balancing economic prosperity with environmental stewardship.
 Streamlining CREATE for Economic Competitiveness
August 2024 (399 KB)
For decades, the Philippines has remained a laggard among its ASEAN neighbors in terms of investments while its economic growth has largely been consumption-driven, rather than investment-led. The low level of investments is also cited for the country’s employment problems.
The proposed CREATE MORE Act is part of the continuing effort to enhance the investment climate of the country and to incentivize the inflow of investments.
 Empowering Futures: Enhancing Enterprise-Based Training in the Philippines
August 2024 (453 KB)
Job-skills mismatch significantly impacts the Filipino workforce, contributing to the country's dismal labor situation. Enterprise-based training (EBT) has emerged as a pivotal solution to enhance employability. However, to maximize its potential and address ongoing challenges, it is essential to revisit, strengthen, and harmonize EBT programs.
 Advancing Public-Private Partnerships in the Philippines
September 2023 (680 KB)
A thriving PPP initiative hinges on a robust legal framework, effective governance, and institutional preparedness. The proposed Public Private Partnership Act (SBN 2233) seeks to establish and institutionalize these requirements, ensuring the efficient execution of PPP projects and driving economic growth.
 The Maharlika Investment Fund
May 2023 (1.7 MB)
The previous administration’s infrastructure push started a positive momentum for development as it began to bridge the country’s decade-old infrastructure gap. This focus on investment, however, encountered financial challenges in light of other emerging government priorities.
 COVID-19 School Closures: Lessons from Disrupted Learning
December 2022 (789 KB)
The Philippines was the last country to reopen schools since the
start of the COVID-19 pandemic in March 2020. As of November 2022,
public schools have resumed face-to-face learning while private
schools are still allowed to continue with blended and distance
learning.
 The Regional Comprehensive Economic Partnership
November 2022 (543 KB)
The Regional Comprehensive Economic Partnership (RCEP) is currently the world’s largest trade and investment agreement. RCEP members include the 10 countries of the Association of Southeast Asian Nations (ASEAN) as well as five of its major trading partners—Australia, China, Japan, South Korea, and New Zealand.
 Institutionalizing a National Evaluation Policy (NEP)
June 2021 (1.5 MB)
Without an NEP, the Philippines is missing the opportunity to improve accountability and transparency in providing objective and evidence-based assessments towards greater effectiveness, efficiency, relevance, impact, sustainability, and equity of its management and operations.
Institutionalizing a National Evaluation Policy (NEP)
June 2021 (1.5 MB)
Without an NEP, the Philippines is missing the opportunity to improve accountability and transparency in providing objective and evidence-based assessments towards greater effectiveness, efficiency, relevance, impact, sustainability, and equity of its management and operations.
 COVID-19 Response: Strengthening Contact Tracing
May 2021 (1.3 MB)
A country’s COVID-19 response is only as strong as its weakest link.
Currently, the Philippines has the second highest number of COVID-19
cases in the ASEAN and this has wreaked havoc to the domestic
economy.
 Rice Tariffication: Why is it a necessary public policy?
December 2017 (1.1 MB)
With 8.23 million “food-poor” Filipinos that represent 8.1 percent of the population and who spend as much as 30.6 percent of their total food expenditure on rice, shouldn’t the Philippine lift the quantitative restriction that makes its staple food very expensive?
A public policy on rice tariffication may be necessary.
 Examining the Philippines’ Disaster Risk Reduction and Management System
May 2017 (842 KB)
Disasters brought by natural hazards are an issue of great concern not only in the Philippines but in the whole world due its social, environmental and economic impacts. With global warming, environmental degradation, increasing population density and poverty conditions, the occurrence of disasters are expected to rise.
 National Land Use Policy: Enhancing Urban Concentration
December 2015 (1.2 MB)
With the doubling of the population in about 40 years, the most important question to face our nation may well be:
How can we sustainably accommodate 200 million people nationwide, with about 40 million in the Greater Manila Area?
A national land use policy of enhancing urban concentration may be the answer.
 National Land Use Policy: Protecting Prime Agricultural Lands
December 2014 (1 MB)
With only less than 10 million hectares of agricultural land
that is threatened by a rapidly urbanizing economy, how would
the Philippines be able to meet its growing demand for food, and
continue providing rural employment to further reduce poverty?
 Breaking New Ground: Enacting a National Land Use Policy
January 2013 (815KB)
With only a total land area of 30 million hectares and a population of 92.3 million growing at an average rate of 2.12 percent, how should the Philippines allocate a very scarce and important resource—land—to meet the various needs of Filipinos? The Senate proposes a national land use policy to address this fundamental issue.
Economic Report
 2021 Full-year Economic Report
Regaining Lost Ground
March 2022 (1.2 MB)
The Philippine Gross Domestic Product (GDP) recorded a growth of 5.6 percent in 2021, signaling the start of an economic recovery. Despite two COVID-19 surges in April and in September, the less stringent mobility restrictions and the accelerated pace of the vaccination program helped boost economic activity, particularly in the manufacturing and trade sectors.
 2020 Socio-Economic Report
Battling a Crisis Like No Other
February 2021 (1.8 MB)
The year 2020 brought enormous challenges to the Philippines as it faced a volcanic eruption, a succession of typhoons and a catastrophic Coronavirus Disease 2019 (COVID-19) health crisis. The global and domestic disruption caused by COVID-19 was so widespread that it has turned into an economic pandemic, precipitating a historic recession far worse than any downturn experienced by the Philippines after World War II.
 2015 Mid-Year Report
The Philippine Economy: Remaining Steadfast
March 2014 (948 KB)
The prospect of hitting the 2015 GDP growth target of 7.0-8.0 percent is quite dim.
Nonetheless, the Philippine economy remains resilient amidst uncertainties particularly in its external environment. With national elections fast approaching, one of the biggest challenges for decision makers is ensuring the continuity of reform efforts.
 2014 Full-Year Report
Still Strong But Missing the Target
March 2015 (931 KB)
Despite setbacks in public spending and agricultural production, macroeconomic conditions have been broadly favorable and have helped sustain growth in 2014.
Efforts to introduce structural reforms, difficult as they may be, must be continued.
Increasing the tax base, ensuring fair competition and protecting property rights are imperatives if the country were to realize its full growth potential.
Policy Insights
At a Glance
 Agricultural Trade
June 2024 (5.7 MB)
Agricultural Trade is comprised of the export and import of agriculture and fishery products under the World Customs Organization Harmonized System (HS) Chapters 1 to 24. This includes the trade of live animals, fish and livestock produce, fruits, vegetables, cereals, beverages and tobacco, among others.
 Tourism
September 2023 (8.4 MB)
Tourism involves people moving for personal/business reasons. The COVID-19 pandemichas hit the sector hard, but recovery grows as restrictions ease and confidence returns.
 The State of Water
August 2023 (1.5 MB)
In the Philippines where numerous and complex water-related challenges and hazards abound, universal access to safe water and sanitation has yet to be achieved.
 Inflation in 2022
January 2023 (289 KB)
The average headline inflation for 2022 reached 5.8 percent, higher than the 3.9 percent posted in 2021 and well above the target range of 2.0 to 4.0 percent. Inflationary pressure mainly came from rising global oil prices, exacerbated by the simultaneous rise in commodity prices due to supply-side bottlenecks, coupled with the peso’s depreciation.
 Climate Finance
June 2022 (1 MB)
The Philippines has been on the firing line of climate change, enduring enormous losses one disaster after another. The country suffered from 317 extreme weather events during the last decade alone.
 IRA in 2022
February 2022 (970 KB)
The internal revenue allotment (IRA) is the main intergovernmental fiscal transfer in the Philippines. It is the biggest source of operating revenues of local government units (LGUs) to provide basic goods and services and finance other development activities. Like other subnational governments in developing countries (Liu and Waibel 2008), LGUs in the Philippines have been clamoring for more fiscal transfers to address some of the challenges they have been facing.
 Philippine Protected Areas
September 2021 (1.2 MB)
Protected areas play a crucial role in mitigating climate change and building resilience to catastrophic events. Apart from ensuring biodiversity and conservation of ecosystems which have traditionally been a source of livelihood for many, safeguarding protected areas is also vital in preventing the future emergence of zoonotic infectious diseases such as Ebola and Coronavirus Disease 2019 (COVID-19). Issues in the operation and management of protected areas must hence be urgently addressed.
 Effect of COVID-19 Pandemic on OFW Deployment and Remittances
April 2021 (1.4 MB)
The Coronavirus Disease 2019 (COVID-19) pandemic slowed down global economic activity at an unprecedented scale and migrant workers and their families are among the hardest hit. Thousands of overseas Filipino workers (OFWs) lost their jobs and returned home. This consequently contributed to the increase in the country’s unemployment rate and restrained the inflow of remittances. As the health crisis rages on, OFWs continue to face uncertainty over their employment prospects.
Major Publications
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