MANILA, Philippines – The Philippines and other major export-led economies are expected to experience substantial recovery next year, according to the United Nations.
In a yearend update report, the UN Economic and Social Commission for Asia and the Pacific (ESCAP) said recovery for the Philippines is expected at 3.5 percent; Singapore, 3.5 percent; Taiwan, 3.5 percent; Thailand, 3 percent and Malaysia 2.5 percent.
The Asia-Pacific region is leading the global economic recovery, with the growth rate in 2010 forecast at 6.3 percent – the highest in the world, according to the ESCAP’s “Economic and Social Survey of Asia and the Pacific 2009: Year-end Update.”
However, the report also found that considerable uncertainties remain about the extent and durability of the recovery, and that the region’s recovery depends very much on external factors.
Key to the region’s exports, for example, will be the recovery of demand in developed countries.
The report, which examines progress since the launch of ESCAP’s flagship publication in March, indicated China is forecast to experience the fastest growth in 2010, at 9 percent, driven by public and private investment.
The domestic-demand led economies of India and Indonesia are also forecast to grow fast, at 7.5 percent and 5 percent, respectively, driven by domestic consumption and investment, the report added.
It is too early to withdraw existing supportive policies, and encouraged greater intra-regional cooperation to improve the ability of countries to better weather such crises in the future, according to the report.
Nagesh Kumar, ESCAP’s chief economist, said the aftermath of the crisis has revealed the shifting axis of global growth to within the region and the need to devise regional supporting mechanisms through greater macroeconomic, trade and investment integration.
“Asia and the Pacific also must take a leading role commensurate with its importance in the global economy in discussions on reforming the international institutional and regulatory architecture,” he said. — Pia Lee-Brago, Philippine Star
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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