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
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!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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