News from home: Abandoned balikbayan boxes, higher inflation rate, Quiboloy sanctioned

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STAR / Rudy Santos

MANILA, Philippines – From over 7,000 abandoned balikbayan boxes, news of increasing commodity prices, and the sanction of controversial religious leader, these are among our headlines and news stories from the past week we think you should know if you’re a Filipino based abroad.

Overseas Filipinos

Work 

  • The country’s unemployment rate eased to 4.5% in October from 5.2% in the previous quarter. This, however, means around 2.6 million Filipinos remain without jobs as the country’s inflation rate surged 8% year-on-year in November, picking up from 7.7% in the previous month.

    But the chief executive remains confident that the country will not experience a recession even as commodity prices continue to increase, citing the country’s improving unemployment rate.

  • A senator filed a bill that would lower the age to legally be considered a senior citizen to 56 from 60, saying that this would give them more time to enjoy benefits such as a 20% discount on transportation, lodging, food, and medicine on top of being exempted from paying income taxes. 

Politics and the nation

  • The United States Treasury Department has imposed sanctions on controversial pastor Apollo Quiboloy under the Global Magnitsky Act over “serious human rights abuse” connected to allegations of rape and physically abusing members of his religious group.

    The Philippine Department of Justice has refrained from commenting on the development, saying it will first “seek US legal experts’ advice.” 

  • President Ferdinand Marcos Jr. will be in Brussels, Belgium next week to attend the EU-ASEAN Business Summit, where he is expected to discuss the country’s post-pandemic recovery plans. The chief executive will have bilateral meetings with leaders from other countries, such as Belgium, Germany, and the European Union.

  • Lawmakers at the House of Representatives have amended the bill that proposes the creation of a sovereign wealth fund following criticisms. Key amendments include the removal of the GSIS and SSS funds as sources of funds for the Maharlika Wealth Fund.

    However, Finance Secretary Benjamin Diokno also said that the two state pension funds can still invest in Maharlika if their boards wish to do so.

  • UN Special Rapporteur Mama Fatima Singhateh is calling on the Philippine government to address the sexual exploitation of children in the travel and tourism sectors. She is also calling on the government to consider having child-specific courts.

  • Marcos is considering building mid-rise and high-rise housing units for low-income households in urban areas to address the country’s estimated 6.5-million housing backlog.

You can view last week’s rundown here or sign up for the newsletter here.

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