The government said the economy is expected to report a growth of between 0.7 percent to one percent for the whole of last year after an expansion in the fourth quarter of between 0.6 percent to 1.6 percent, acting National Economic and Development Authority (Neda) director general Augusto Santos said yesterday.
The fourth quarter performance was somewhat affected by a slowdown in output in the agriculture sector as a result of natural disasters that hit the country and a slump in the performance of the manufacturing sector as a result of the global recession.
Santos said the growth estimate for the year still stands at 2.6 percent to 3.6 percent but he added economic managers have to meet when the actual performance figures for last year are released on Thursday.
Farm production shrank 2.4 percent in October to December from a year earlier after strong typhoons ravaged crops, the agriculture department said last week.
“For 2010, we will not really be abandoning the stimulus package. We will continue with stimulus spending although at a reduced scale compared to 2009,” he said.
The stimulus spending notwithstanding, inflation this year should stay within the central bank’s target of 3.5 percent to 5.5 percent, Santos said.
Inflation averaged 3.2 percent in 2009. –Aytch de la Cruz, Daily Tribune
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
June 6: Migrant Workers Day
June 19: Filipino Youth Day
June 25: Day of the Filipino Seafarer
