MANILA – The Philippines cut its growth and trade forecasts for this year and the next on uncertainty over the global recovery, government officials told a Senate budget hearing on Wednesday.
Manila now expects growth this year to be between 4.5 to 5.5 percent, lower than a 5-6 percent growth target under its budget assumptions for the year, Economic Planning Secretary Cayetano Paderanga told the Senate hearing.
The government now forecasts exports and imports to grow 5 percent and 13 percent, respectively, this year, lower than previous estimates of 9 to 10 percent and 17-18 percent.
It also cut 2012 trade forecasts. –Reuters
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.
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