MANILA, Philippines – The government sees a subdued but steady growth for the Philippines this year with volatile oil prices and the El Niño phenomenon posing the biggest threats to the economy, an official said yesterday.
National Economic Development Authority (NEDA) Director Dennis Arroyo, however, said the benefits of the economic growth drivers are more than enough to offset the threats.
The government has projected a conservative 2.6 percent to 3.6 percent gross domestic product (GDP) for the country in 2010, lower than that forecasts for multilateral agencies as well as international and local financial institutions, including the International Monetary Fund (IMF) and the Asian Development Bank (ADB).
“The global economy is still fragile. We’re out of the ICU but the recovery is fragile so I used the word subdued growth,” Arroyo told a news briefing at Malacañang.
Battered by the global recession and powerful storms, the economy grew by 0.9 percent last year, the slowest pace in 11 years. Foreign economists however acknowledged the resiliency of the Philippine economy allowed it to continue to grow despite the global crisis that saw two-thirds of the world’s economies in recession.
Arroyo however said economic managers have already taken into account the effects of the threats to the economy that is why the GDP projections are lower than those of private foreign and local institutions. –Paolo Romero (The Philippine Star)
It’s women’s month!
“Support women every day of the year!”
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 #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour