GMA 7's global recession special

MANILA, Philippines - Follow the bumpy journey of the Philippine economy this March 22 on Walang Pera?, the GMA News and Public Affairs special on the local impact of global recession. 

Over 40,000 local jobs lost in manufacturing, over 5,000 OFWs sent home, more than 4,000 displaced workers in real estate the numbers indicate that the global financial crisis has started to hit home. And hit hard. 

But they do not tell the entire story. In spite of the economic crunch, malls continue to expand. Ticket sales of local films are up. Several call centers are in a hiring frenzy. And certain franchises are doing better business now than they did in past years. 

So how bad is the situation…really? Is the Philippine economy in recession? What caused the global crisis in the first place? And when and how is it expected to end?

GMA News and Public Affairs’ Special Walang Pera?  attempts to answer these questions and more. It will utilize 2-D and 3-D animation, special effects and feature Marian Rivera in various incarnations of Juana dela Cruz, to illustrate the impact of recession in an easily understood way.

Walang Pera? is hosted and narrated by Mike Enriquez and dramatized by Marian Rivera, with the special participation of economist Winnie Monsod. The special will feature the work of independent animators Ellen Ramos, Lara Agulto and Fahrenheit Inc.

It airs Sunday, March 22, at 10:45 p.m. over GMA 7.