The economy will almost certainly be shown to have experienced a contraction for 2025, when the fourth quarter GDP figures are revealed on March 31. The economy has not incurred successive economic contractions in any two years since Independence, a trend that underlines the deep distress facing the country. The Finance Ministry expects that the economy contracted by 0.9% in 2025, but other experts caution such as the IMF have forecast a one percent narrowing, all largely driven by the prolonged downturn in diamonds.
According to a report elsewhere in this publication, various district councils announced that a one-bedroom home now costs over P130,000 more, a near-unthinkable 32% increase. This isn’t just a minor adjustment, but a devastating blow to the dream of affordable home ownership for ordinary citizens.What is most alarming is not just the scale of the increase, but the profound confusion it has exposed. Minister Ramogapi has publicly…
