MANILA, Philippines – The Philippines and its Southeast Asian peers are expected to post an average growth rate of 5.5% this year, according to the International Monetary Fund (IMF).
Next year, the Asean 5 (Philippines, Indonesia, Malaysia, Thailand and Vietnam) will grow by around 5.7%, the IMF said in its latest World Economic Outlook.
The figures are slower than the 6.7% estimated growth for 2010, but faster than the forecasts for Western economies. The US is projected to grow by 2.5% this year, and the euro zone by 3%.
The IMF blamed the anticipated slowdown from 2010 to base effects. It said last year’s growth rates were unusually high coming from the global recession in 2009.
The multilateral lender also said that there are risks to growth potentials, including faster inflation due to rising world oil prices and increasing demand.
“Upward pressure on prices is expected to persist in 2011, due to continued robust demand and a sluggish supply response to tightening market conditions.”
Inflation in the Philippines settled at a benign rate of 3.8% in 2010, well within the official government target of 3.5% to 5.5%.
The country aims to keep inflation within a lower range of 3% to 5% this year. –abs-cbnNEWS.com
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
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
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
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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