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
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!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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