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
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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