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| The Philippines' economic freedom has fallen to "mostly unfree," according to the 2023 Index of Economic Freedom by The Heritage Foundation. Photo: Radyo Pilipinas |
The Philippines has been classified as “mostly unfree” in terms of economic freedom, according to the 2023 Index of Economic Freedom published by The Heritage Foundation, a US-based think tank.
The country's ranking in economic freedom fell to 89th out of 176 countries, with a score of 59.3 points, from 80th in 2022 to 73rd in 2021. The Philippines was ranked 18th out of 39 Asian countries.
House Committee on Constitutional Amendments Chair Rufus Rodriguez said that the proposed amendment to the Constitution aims to address this issue by making the country more open to foreign investment, resulting in more jobs.
Rodriguez expresses a sincere desire for the Senate to engage in a deeper level of consideration and reflection regarding their stance on Resolution of Both Houses (RBH) No. 6. This particular resolution proposes the convening of a Constitutional Convention (Con-Con), with the specific objective of amending the economic provisions of the Constitution.
By doing so, the Senate would demonstrate a commitment to ensuring that the economic provisions of the Constitution are as effective and relevant as possible to promote the nation's long-term prosperity and well-being.
RBH 6 has already been adopted by the House on second reading, while its accompanying bill that contains the rules for what will be Con-Con is already in the plenary. —iTacloban (Source: RP)