Economy and jobs
1,152 claims on this topic checked by other fact-checking organisations. Topics are sorted by the words in each claim and cover English-language checks.
“The Philippine economy is leading all Asian countries in the growth of projected gross domestic product based on the International Monetary Fund report in April.”
Vera Files says: The Philippines does not have the highest projected GDP growth among Asian countries. It ranks fourth in the IMF’s 30 emerging and developing economies in the region, with a projected GDP growth of 6%. Palau holds the t…
“Bongbong Marcos Jr.’s meeting with World Bank officials was not reported by the mainstream media.”
“The FedNow program “is going to replace your paper currency.”
PolitiFact says: The FedNow Service is an instant payment infrastructure developed by the Federal Reserve. It will not replace paper currency.
“GCWP is a borderless Hindu Country located in Iowa, USA. The currency of the country is RAAM with pictures of Prabhu Ram and 1Raam = 10 USD. The currency is accepted in US and Europe.”
“IOC Requests Against Filling Fuel Tanks To The Maximum Limit, Due To Rising Heat In SL!”
“In America our own (central bank digital currency) system is going to be launching July 1. It’s called the FedNow payment system.”
PolitiFact says: A central bank digital currency system is not launching in July, nor has one been proposed by The Federal Reserve System. The FedNow Service is a separate initiative that is an instant payment infrastructure.
“A central bank digital currency would allow the Federal Reserve to control Americans’ spending.”
PolitiFact says: Even if leaders decided they wanted to block Americans’ everyday purchases this way — and there’s no indication they do — current law would not allow it. Privacy-concerns Americans would likely balk, too.
“In the next two years, we'll spend more on interest on our national debt than we do on the national defense.”
PolitiFact says: The most recent Congressional Budget Office projection, from February 2023, shows that net interest on the national debt is projected to exceed defense spending starting in fiscal year 2029, but not in the next two years
“The Makati Business Club and the Financial executives Institute of the Philippines have walked back on their support for amending the economic provisions of the 1987 Constitution.”
Vera Files says: The MBC and FINEX did not explicitly say they are against amending the economic provisions of the Constitution. However, they opposed the mode preferred by the House to introduce amendments, emphasizing the high cost of…
“We have a national debt the size of our nation’s economy for the first time since World War II.”
PolitiFact says: The national debt has been at 100% of gross domestic product since 2013 by one commonly used measure and since 2020 by another measure.
“Silicon Valley Bank donated $73 Million to Black Lives Matter and Related Causes”
“The money for upgrades to the Milwaukee Brewers stadium in Evers’ budget is "a bipartisan plan.”
“The Central Bank Of SL Release Rs.1000 Coins For Public Circulation !!”
“Failed Silicon Valley Bank Gave Black Lives Matter over $73 Million.”
FactCheck.org says: A database claiming to show corporate donations to the "BLM Movement" doesn’t show any from Silicon Valley Bank to Black Lives Matter. But conservative commentators cite it to falsely claim SVB gave millions to BLM.
“Silicon Valley Bank “donated $73M to 'BLM Movement”
PolitiFact says: Silicon Valley Bank’s charitable contributions that were counted in a conservative think tank’s total went primarily to groups and initiatives that had no clear association with the Black Lives Matter movement.
“The Simpsons predicted the collapse of Silicon Valley Bank”
“Simpson successfully predict Silicon Valley Bank Collapsed. Simpsons predictions as been 87℅ accurate over the years. Simpson also Predict Pi Network to be a Big success In Crypto space. We’re in for a Big ride. Success awaits Pioneers ⚡💥🚀”
“The Simpsons” predicted money missing from Bank of America customers’ accounts in January.”
“The Philippines' inflation rate is "still one of the lowest in the world.”
Vera Files says: Compared to other Southeast Asian countries, the Philippines' inflation is the sixth highest recorded in 2022. Economic experts say that even if the Philippine economy posted growth, inflation grew faster since December…