The Philippine capital’s luxury residential prices grew by 26% year on year in the second quarter, based on the latest edition of the Prime Global Cities Index by real estate consultancy firm Knight Frank. Manila bested 44 residential markets for the fourth consecutive quarter.
LISTED D&L Industries, Inc. has completed the redemption of its Series A fixed rate bonds worth P3 billion.
“These bonds were issued in 2021 and matured today,” D&L said in a regulatory filing on Monday.
The P3-billion Series A fixed rate is part of D&L’s P5-billion fixed-rate bond offer issued in September 2021 to partly fund the company’s Batangas plant, which started commercial operations in July 2023. The Series A bonds carried a rate of 2.7885%.
The remaining P2-billion Series B is priced at 3.5962% per annum and has a five-year tenor.
For the first half, D&L Industries logged a 6% jump in its net income to P1.32 billion from P1.24 billion last year.
January-to-June sales rose by 17% to P18.98 billion from P16.23 billion last year, with export sales up by 57% year on year.
D&L is engaged in the production of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use.
On Monday, D&L shares rose by 1.27% or eight centavos to P6.38 apiece. — Revin Mikhael D. Ochave
THE NONLIFE insurance industry is looking at setting guide rates for new products that will cover motorcycles and electric vehicles (EV) because companies that cover these sectors are selling at a loss, the Philippine Insurers and Reinsurers Association (PIRA) said.
PIRA Executive Director Michael L. Rellosa told reporters last week that for one, they have very little information about how motorcycle taxis are doing. “So we’re learning as we go. And apparently, some of the early companies who wrote it first, are starting to get losses.”
He also said motorcycles used in ride-hailing apps have coverage already, but companies that cover them have been experiencing losses that continue to rise.
“So, we have to look into how best we can rate it going forward,” he said. “Now, the Insurance Commission is also asking the industry to come up with guide rates, but right now, we’re still in the process of collecting information.”
Latest data from the Insurance Commission showed net premiums from the motor sector rose by 8.42% to P13.82 billion at end-June from a year earlier.
“The information that we need is premiums versus losses, so we can arrive at the technical rate — the rate that covers the risk itself,” Mr. Rellosa said.
He added that insurers need to factor in not just the driver of motor taxis, but also the passengers because motorcycles are more prone to accidents.
Mr. Rellosa said only about five companies have started writing coverages for motorcycle taxis, while others are still looking into it.
“The others are waiting to see how it goes, if it’s going to be a profitable line for them to go into. And the jury’s still out. They need more information to make a decision,” he added.
PIRA has reached out to the Metropolitan Manila Development Authority (MMDA), Land Transportation Franchising and Regulatory Board (LTFRB) and Land Transportation Office (LTO) for data on accidents related to the sector, he said.
“We also wrote to the companies that have initially written that kind of business and they haven’t gotten back to us yet,” he said. “But once we have some semblance of data we can rely on or trust, we can make the correct assumptions and we can extrapolate the rate, pass it through actuarial analysis and all that.
Mr. Rellosa said the industry is also evaluating the rates needed to cover electric and hybrid vehicles.
“We know the cost [of combustion engines] and all that,” he said. “We’re used to that. While for electric vehicles, the battery itself costs 50% of the vehicle. So the valuation is off.”
Aside from rates, the industry is also formulating the proper coverage for EVS. “Again, we cannot use the normal motor policy because it just doesn’t add up. There are different or new kinds of risks that come with the electric and hybrid vehicles,” Mr. Rellosa said.
EVs are also more affected by potholes, road bumps and flooding because most models are built with the battery at the bottom of the car, he added.
“There are so many new issues that are coming with the new types of vehicles. But the industry has to catch up. We’re a little slow,” Mr. Rellosa said.
Total net premiums written by nonlife insurance companies rose by 7.14% to P32.89 billion in the first half from a year earlier, based on data submitted by 52 out of 56 licensed firms. — Aaron Michael C. Sy
MILAN — Italian tax police said on Friday they have seized counterfeit Chinese copies of vintage game consoles and video games from the 1980s and 1990s worth almost €50 million ($55.5 million).
New versions of video games and gaming consoles popular decades ago have recently been re-released in a phenomenon known as “retrogaming.”
The Guardia di Finanza tax and customs police in the northwestern city of Turin said in a statement that they had seized around 12,000 gaming consoles in several provinces across Italy starting from late 2023. The consoles were “all from China,” the police statement said.
The consoles contained more than 47 million pirate copies of old video games, lacked proper EU-mandated health and safety labels and were equipped with non-certified batteries and electrical circuits, police said.
They were sold in shopping malls, online marketplaces, and Italian company websites.
Nine people, all Italian nationals, have been placed under investigation for various crimes connected to fraudulent trading and copyright infringement, while the seized video games were all destroyed. — Reuters
MONEY SENT HOME by overseas Filipino workers (OFWs) rose to a seven-month high in July, data from the Bangko Sentral ng Pilipinas (BSP) showed. Read the full story.
SHANG Properties, Inc. (SPI) has commenced construction on Shang Summit, an 80-storey, two-tower luxury residential development in Quezon City.
The East Tower will be the first to rise this year, SPI said in a statement on Friday last week.
“Through Shang Summit, SPI reaffirms its commitment to redefining luxury living in the Metro,” SPI Executive Director Wolfgang Krueger said.
Shang Summit’s studio unit will span 37 to 39 square meters (sq.m.) and is set to provide “an intimate yet spacious living experience with its large window frames that showcase city views and natural light,” the company said.
The one-bedroom units, which range from 51 to 70 sq.m. feature living room configurations that integrate open kitchens, dining areas, and outdoor balconies.
Meanwhile, the 88- to 125-sq.m. two-bedroom residences will have private balconies, master suites, and “ample” wardrobe space.
Shang Summit, which features the East and West Towers is a collaboration between SPI and architects and designers P&T Group, FM Architettura, and CASAS + Architects, Inc.
Among its amenities include coworking lounges, extensive play areas for children of all ages — from toddlers to teenagers, and a lounge area for socializing.
“The development will also feature the Shang Summit Gallery, which offers elegant spaces for relaxation and social gatherings, while The Alcove provides quiet, serene environments ideal for work or study,” the company said.
In addition, a tropical pool with an alfresco deck and fitness center by TechnoGym will be available for residents. — Aubrey Rose A. Inosante
Three recent items in the Opinion Section of this paper have discussed using the idle funds of the Philippine Health Insurance Corp. (PhilHealth) to fund some unprogrammed appropriations in the 2024 budget.
These were the Sept. 11 Thinking Beyond Politics column, “Making public money work for the people: Idleness of funds is idleness in service,” by Victor “Dindo” Manhit, a Letter to the Editor by Department of Budget and Management (DBM) Undersecretary Goddes Hope O. Libiran which came out on Sept. 13, and the Sept. 16 Yellow Pad column, “Current demographic trends do not justify reduction of PhilHealth premiums,” by Charl Andrew Bautista, Elma Laguna and Michael Abrigo.
The Manhit article supports the move by the Department of Finance (DoF) and Secretary Ralph G. Recto, noting, for example “an initial remittance of P20 billion from PhilHealth was used to settle P27.5 billion in unpaid COVID-19 allowances for frontliners, covering 5.04 million claims. Is this not a good thing?” Good position there, Dindo.
The DBM letter was in response to four claims made in the Sept. 9 Yellow Pad column, “Patronage politics has caused the loss of health insurance coverage for millions of Filipinos,” by Juan Antonio Perez III which the DBM said was “in the interest of accuracy and balanced views to avoid unnecessary alarm to the public, perpetuated by false, fear-mongering, and misleading news reports such as this.” Good correction there, Ms. Libiran.
The Yellow Pad piece by Bautista, Laguna, and Abrigo suggests that to “maximize the benefits of the increased premium collections” they should, among others, “Invest the surplus in expanding PhilHealth packages” in order to “improve cost coverage to prevent catastrophic health expenditures for individuals and families,” and “prepare for the eventual population aging.”
A common practice of advocates of what I call “sectoral parochialism” is to argue that their favorite sector is so important that whatever budget is given to it by DBM and Congress will never be enough and must be increased significantly. Thus, the P90 billion in excess PhilHealth funds should not be used for other sectors. Instead, whenever possible, it should be increased, doubled, quadrupled, or higher.
The DoF, DBM, and the National Economic and Development Authority (NEDA), which comprise the government’s economic team, see the overall picture of all agencies and all possible sources of funds (taxation, regulatory fees, and borrowings). Since the Philippines’ public debt is already high — the annual borrowings and interest payment keep rising even without an economic or finance crisis — the economic team will tap other domestic sources and avoid additional borrowing whenever possible. The economic team is correct in doing this. And the lobbyists and advocates of “sectoral parochialism” dislike them, even attack them and produce “false, fear-mongering, and misleading news,” like the opponents of reallocating PhilHealth’s excess funds to unprogrammed appropriations.
From 2022 to 2024, during which time there has been no economic or health crisis, and no more lockdowns, some expenditures like temporary subsidies should have been cut in order to have a fiscal surplus, in order to reduce borrowings and reduce interest payments. But this did not happen and is not happening.
From 2022 to 2024, we still had an average deficit of P3 billion to P4.4 billion/day, our interest payments alone were P1.4 billion to P2.2 billion/day — principal amortization not included yet in that number. New net borrowings were P5.4 billion to P6.4 billion/day. And even when interest rates were hiked, like 6% for T-bills and 6.7% for T-bonds, government kept on borrowing (see Table 1).
Secretary Recto, Secretary Amenah Pangandaman, Secretary Arsenio Balisacan, please proceed with tapping any domestic revenues you can and avoid new borrowing whenever possible. Fiscal realism should prevail over sectoral parochialism.
On the Philippines’ changing demographics as discussed by the Bautista, Laguna, and Abrigo in their column, here are some statistics from the Philippine Statistics Authority (PSA) which they did not mention: rising deaths, declining births, and the declining population net increase.
In 2020, when hundreds of new COVID-19 cases were reported daily and a severe lockdown was imposed by the government, there were no excess deaths over those reported in 2019. But in 2021, when mandatory vaccination was imposed (otherwise it was the mandatory to present costly PCR-tests taken every two weeks at the individual’s cost), deaths increased from 1,682/day in 2020 to 2,410/day in 2021 then 1,862/day in 2022.
The average number of births declined, from 4,188/day in 2020 to 3,739 in 2021, and 3,776/day in 2023. The population net increase (births minus deaths) also declined significantly, from 2,506/day in 2020 to only 1,329 in 2021, and 1,960/day in 2023 (see Table 2). And we are seeing this ugly declining trend in population expansion.
The Philippines may have spent some P200+ billion on COVID-19 vaccines plus transport, storage, and other logistics in 2021-2022 alone, in both government (national and local) and corporate procurement.
Health is first and foremost a personal and parental responsibility, only secondarily is it a government responsibility. This is so whether dealing with communicable/infectious or non-communicable/non-infectious diseases. When people say that it is OK for the poor to buy alcohol, tobacco, fatty food, then say that it is not OK for the poor to contribute to their own health insurance even at a minimal amount, then we have a problem.
Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.
Here’s a quick glance at how PSEi stocks fared on Monday, September 16, 2024.
By Kyle Aristophere T. Atienza, Reporter
THE PHILIPPINES will go beyond ship deployment in keeping a “strategic” presence in Sabina Shoal, a maritime council said on Monday after the pullout of the country’s largest coast guard vessel from the disputed atoll.
“The President’s directive is to maintain our presence in Escoda Shoal,” National Maritime Council spokesperson Alexander Lopez told reporters at the presidential palace in mixed English and Filipino.
“When we say presence, strategic presence, not just physical presence,” he added. “I just want to make clear that our presence is not limited to sending a single ship.”
Mr. Lopez said the pullout of the 97-meter BRP Teresa Magbanua five months after its deployment to Sabina should not be a cause for concern as the government uses other measures to monitor the South China Sea feature that he said is as big as the cities of Caloocan, Navotas, Malabon, and Manila combined.
“Even if Teresa Magbanua left, it did not diminish our presence in the area because we have other ways to monitor,” he said, citing the deployment of planes and technical surveillance capabilities.
“We are also asking for help from our allies on how to go about this technical coverage,” he added.
Mr. Lopez said the Philippine Coast Guard (PCG) had already sent a replacement for its largest ship after it left Sabina Shoal on Sept. 14.
The council also said the ship needed to undergo repairs and that some of its crew needed to address their medical needs. The repositioning would also give the ship’s crew a furlough so they could have a reunion with their loved ones, it added.
BRP Teresa Magbanua was deployed in mid-April amid reports that Beijing was dumping the atoll with dead corals to alter its elevation.
There have been collisions of Chinese and Philippine vessels since last month near Sabina, which lies 140 kilometers off the Philippine westernmost island of Palawan.
NOT LOST TO CHINA
PCG spokesman for the West Philippine Sea Jay Tristan Tarriela said separately on Monday that the pullout of the Philippine vessel did not mean that the country had lost Sabina Shoal to China.
“As far as the Philippine Coast Guard is concerned, we have not lost anything,” he said at a news conference.
“Escoda Shoal, no matter how many instances we intend to go there, we will be able to patrol and deploy our vessel,” he added.
He said despite China’s presence, Philippine vessels can still go to Sabina because it has many entry points unlike Scarborough Shoal, which has only one entrance.
Beijing has effectively controlled Scarborough, which also falls within Manila’s exclusive economic zone (EEZ) but is also claimed by several other countries, in 2012 after maintaining constant coast guard presence there, according to the Asia Maritime Transparency Initiative.
“Bajo de Masinloc only has one single entrance and that is the southeast entrance of the lagoon in Bajo de Masinloc,” he said.
“Escoda Shoal is composed of two lagoons on the west side and eastern side,” he added. “Each lagoon has different areas where you can pass through.”
China claims the South China Sea almost in its entirety including within the Philippine EEZ, rejecting an international ruling that its assertions based on a 1940s map has no legal basis.
Sabina has been a staging ground for Philippine resupply missions to Second Thomas Shoal, in which Manila grounded a Navy vessel in 1999 to serve as an outpost for Filipino troops.
Manila and Beijing came up with a resupply deal during a so-called bilateral consultation mechanism (BCM) in July following a June 17 standoff in which Chinese forces threatened Filipino troops delivering supplies to the Navy outpost, using bladed weapons.
Mr. Lopez, speaking to Palace reporters, reiterated that the pullout of Magbanua was not a capitulation to previous Chinese demands.
“We did not withdraw, and this was not the agreement during the last BCM. People might think we gave in, but in fact, we didn’t,” he said in mixed English and Filipino.
“We stood our ground during the meeting in Beijing and our Department of Foreign Affairs stated that our presence will be maintained at the shoal, so it’s not a withdrawal.”
Mr. Tarriela said Chinese vessels had successfully blocked previous resupply missions of Philippine ships in Sabina Shoal because China already knew that BRP Teresa Magbanua was the destination.
“But right now, there is no reason for us to be blocked. We can go to Escoda Shoal with such a total area and it’s almost impossible for the Chinese government to block our intent to patrol the entire vicinity,” he said.
HIGHER PCG FUNDING
A senate leader on Monday said Congress should ensure more funding for the PCG to maintain the country’s presence in the disputed waters following the pullout of the Philippine vessel after a months-long standoff with China.
“Increasing budgetary support is essential to ensure that all deployed vessels receive adequate provisions and regular maintenance to sustain seaworthiness,” Senate President Pro-Tempore Jose “Jinggoy” P. Estrada, Jr. said in a statement.
He cited the need to provide medical and welfare support for coast guard personnel and for the government to invest in technologies that would help navigation in extreme weather.
Mr. Estrada told a forum last month that the Senate is likely to boost funding for Manila’s coast guard and the armed forces to beef up the country’s defenses amid growing tensions with Beijing.
Defense agencies will get P256.1 billion under the Budget department’s P6.352-trillion proposed national budget for next year.
The Philippine Army, Air Force, and Navy will get P204.4 billion, while P50 billion will go to modernization efforts of the Armed Forces of the Philippines, according to a summary of the Budget department’s national expenditure plan.
“By allocating the necessary budgetary resources, we can uphold the PCG’s role as a formidable force in defending our maritime territories and protecting our national interests,” Mr. Estrada said.
RULES-BASED ORDER
Also on Monday, the German government, through its envoy in Manila, affirmed its commitment to upholding a rules-based international order amid rifts in the South China Sea as two naval ships docked in Manila for the Indo-Pacific Deployment 2024 (IPD 24).
“The visit today here is a clear commitment to freedom of navigation, a clear commitment to the United Nations Convention on the Law of the Sea (UNCLOS), a clear commitment to freedom of navigation and the international rules-based order,” German Ambassador to the Philippines Andreas Michael Pfaffernoschke told reporters in a news briefing in Manila City on Monday.
“In the West Philippine Sea, Germany stands with the Philippines on the side of international law. Our message is clear: respecting UNCLOS by all parties concerned is essential for lasting peace and stability in the region. This is what the IPD stands for,” said the envoy.
International affairs lecturer at the De La Salle-College of St. Benilde School of Diplomacy and Governance Josue Raphael J. Cortez said the visit of the German ships is timely as the two countries aim to sign a defense deal.
“This is undoubtedly timely given that the Philippines and Germany are targeting to sign its defense deal prior to the end of 2024,” he told BusinessWorld in a Facebook Messenger chat on Monday.
“It is a way to signal that despite the treaty being still a draft and awaiting signatures by the two countries, Germany is committed to aiding the Philippines should China undertake something in relation to their ongoing fiasco on the disputed territories,” he added.
Mr. Pfaffernoschke said that Berlin had pledged to ensure free and secure shipping routes in its 2020 Indo-Pacific Strategy, reaffirming the promise in its 2023 German National Security Strategy.
Manila and Beijing are facing maritime conflicts in the South China Sea as the latter continues to ignore a 2016 Permanent Court of Arbitration ruling in favor of Manila.
The Chinese Embassy in Manila did not address the issue in their response to a Viber message seeking comment. — with reports from John Victor D. Ordoñez and Chloe Mari A. Hufana
THE PHILIPPINES has posted three new monkeypox cases, bringing the total to 18, according to its health agency.
The three patients, all of whom were male, came from Calabarzon and Metro Manila, Health Secretary Teodoro J. Herbosa said at a news conference on Monday.
He said 13 of the 18 cases were active, while five others were already released from isolation.
“The good thing is, all the 18 cases that we have picked up as of now, have not infected anyone,” he said in Filipino.
“They don’t have an epidemiological link, which means that when we isolate them, the transmission of the disease stops.”
The Philippines is set to receive 2,500 doses of mpox vaccines in the coming months.
Pending the arrival of the vaccines, Mr. Herbosa said the disease could still be controlled in the country through “cleanliness.”
“Mpox is very easy to control. I don’t need a vaccine to control it. What we only need is good public health — the prevention, detection, and isolation of mpox cases can prevent the spread,” he said.
The Health department said in a message to reporters that the East Avenue Medical Center in Quezon City was now ready to do PCR testing for mpox.
It said other hospitals such as the Lung Center of the Philippines in Quezon City, San Lazaro Hospital in Manila City, Baguio General Hospital, Vicente Sotto Medical Center in Cebu City, Southern Philippine Medical Center in Davao City, Western Visayas Medical Center, and Bicol Medical Center were undergoing training for reactivation.
An outbreak in African countries prompted the World Health Organization (WHO) to declare a global health emergency in mid-August, and launch a $135-million response.
The Philippine Health department last month said it had already signified intent to the WHO to get access to smallpox vaccines.
The WHO said common mpox symptoms include skin rash or mucosal lesions which can last two to four weeks, accompanied by fever, headache, muscle aches, back pain, low energy, and swollen lymph nodes.
It can be transmitted through close contact with someone who has mpox, with contaminated materials, or with infected animals, it said. The virus may be passed to the fetus, or to the newborn during or after birth, during pregnancy.
DENGUE CASES UP
Also on Monday, Mr. Herbosa said dengue cases in the country had risen to 208,000, 68% higher compared to the same period last year.
The country logged a 25% increase in cases in the past three to four weeks. But the number of fatalities remained low, he said.
Regions that have experienced significant increase in cases include Central Luzon, Western Visayas, Central Visayas, and Metro Manila.
Still, Mr. Herbosa said the declaration of a nationwide dengue outbreak was not needed. The declaration should be based on the decision of local governments, he added.
“There are no national outbreaks because dengue is endemic. This means that all year round, there’s dengue in the Philippines. It’s not a new disease,” he said.
He said some LGUs were declaring an outbreak because their hospital occupancy rates might have reached critical levels. — Kyle Aristophere T. Atienza
THE SENATE on Monday approved on second reading a measure seeking to set up a value-added tax (VAT) refund system for tourists to encourage visitor spending.
Senate Bill No. 2415 aimed to provide nonresident tourists with VAT refunds for local purchases worth at least P3,000. The House of Representatives approved its version on third and final reading in March last year.
Under the Senate bill, tourists will be entitled to these refunds if they had purchased the goods from government-accredited stores within 60 days of seeking the VAT refund. The bill allows the refunds to be made electronically or in cash.
The measure also grants the Finance secretary the authority to adjust the 3,000-peso threshold based on inflation, administrative costs, and other market conditions, upon the recommendation of the Commissioner of Internal Revenue.
“By incentivizing tourists to spend within our borders, we will undoubtedly drive economic growth, create employment opportunities, and enhance the overall well-being of our people,” Senator Sherwin T. Gatchalian said in his sponsorship speech in September last year.
REVENUE LEAKAGES
Senate Minority Leader Aquilino Martin “Koko” D. Pimentel, however, opposed the measure, saying it could lead to revenue leakages and that the government should focus on improving the tourist experience and infrastructure instead.
“The bill lacks the assurance that it will genuinely boost the economy or that VAT refunds will be claimed solely by bona fide non-resident tourists, in short we are afraid of leakages or scams,” he said in his speech on Monday opposing the proposal.
Citing a 2018 World Bank study, he said the Philippines has lost about P539 billion in potential revenues due to VAT leakages and exemptions. He said the government would be better off spending on tourism infrastructure and easing the travel and accommodation of visitors in tourist spots.
Mr. Gatchalian earlier pushed for the creation of more medical facilities and police forces in the country’s tourist spots to complement the proposed tax refund mechanism.
The minority leader said the VAT refund mechanism would likely be very costly for the government to set up as it would entail hiring more personnel, setting up refund booths, and managing the program.
The Department of Tourism is aiming to post 7.7 million international tourist arrivals this year. As of Aug. 7, the Philippines has received 3.62 million inbound visitors, with 92% of them being foreigners, the agency said last month.
“If we cannot prevent leakage and abuse in the current system, how can we expect that this new VAT refund program won’t suffer from similar inefficiencies?” Mr. Pimentel said.
“Let us find more meaningful ways to boost our economy without compromising our tax revenues or creating new avenues for abuse.” — John Victor D. Ordoñez
THE PHILIPPINE government should look to address issues, such as bullying and suspending classes for too long during extreme weather, to make up for learning loss and improve student performance, education experts told senators on Monday.
“We will not be able to keep students in school if we keep suspending classes and not make up for the suspension,” Lizamarie C. Olegario, an associate professor of education psychology at the University of the Philippines (UP), told the Senate Committee on Basic Education.
“Teachers need to be empowered in implementing education in times of emergencies.”
She said the government should consider giving financial aid to families that live in far-flung areas, especially those affected by extreme weather.
Citing a 2020 data from the World Bank, Ms. Olegario said the learning gap in the Philippines is 5.5 years, indicating how far behind Filipino students are in their academic abilities.
In a separate 2022 study, the World Bank also found that nine in 10 Filipino children cannot read and understand simple reading materials by age 10, a learning poverty rate of 91%.
The Philippines also had a learning deprivation rate of 90.4%, which is among the highest in Southeast Asia.
“While we strive to raise learning gains, there is also a need to plug holes in learning losses and there are a lot of holes that we can plug,” Philippine Institute of Development Studies senior research fellow Michael Ralph M. Abrigo told the same panel.
He said bullying, student’s school environment, and the extended suspension and closure of school operations due to them being used as evacuation centers as factors contributing to learning loss.
Ms. Olegario cited the need for schools to focus on improving their instructions in basic subjects, such as literacy, numeracy and socio-emotional literacy.
Since August last year, the Department of Education has been implementing the Matatag curriculum, which seeks to streamline learners’ education by focusing on reading, literacy, and numeracy in the first three schooling years of a student.
Filipino students were among the weakest globally in mathematics, reading and science, based on the 2022 Programme on International Student Assessment (PISA). The Philippines ranked 77th out of 81 countries, performing worse than the global average.
The country placed 63rd out of 64 countries in the PISA assessment that ranked 15-year-old students worldwide in producing and evaluating original ideas that would translate into effective solutions.
“We don’t have to change timetables or calendars, or have catch-up Fridays to do this,” Ms. Olegario said. “We need to strengthen teaching the fundamentals in all classrooms.”
Data from the Asian Development Bank showed that 21% of children from middle-income countries who are of school age by 2030 will not learn basic primary-level skills.
Students in the Philippines and Indonesia are more than a year behind in their learning because of the pandemic, McKinsey & Co. said in a report published in 2022. — John Victor D. Ordoñez
