STRONG SPENDING during the holidays, driven partly by remittances from overseas Filipino workers (OFW), should help drive economic growth faster than officially projected, economists said yesterday.
Augusto B. Santos, deputy director-general of the National Economic and Development Authority (NEDA), said in a phone interview that both remittances and spending may be stronger than usual “due to the economic recovery.”
University of Asia and the Pacific economist Cid L. Terosa concurred, noting that “holiday spending and OFW remittances… will help the economy achieve strong fourth quarter growth… and eventually push 2010 GDP [gross domestic product expansion]…to 7%.”
GDP grew by a faster-than-expected 7.9% in the first half, prompting NEDA officials to remark that economic expansion this year could surpass the official 5%-6% projection.
Central bank data show that growth of personal consumption expenditure accelerated to 5.14% in the first half from 4.29% last year, while OFW remittances rose 7.4% to $12.18 billion in the eight months to August. — JJAC, Businessworld
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
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
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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