MANILA, Philippines (Xinhua) – The Philippine economy is seen to grow 4.2 percent this year on back of strong domestic demand, investment, and increased government spending amid a global slowdown, the World Bank said Wednesday.
The Washington-based lender also forecast in its latest East Asia and Pacific Economic Update that Philippine GDP will expand 5 percent in 2013.
Remittances sent by Filipino migrant workers will continue to fuel the consumption-based Philippine economy. Increased public spending and monetary easing policies will likewise support growth.
But the World Bank said the government needs to plug holes in its tax system in order to get more revenues and support public spending.
“To sustain such a stimulus, higher tax revenues (through the executive’s effort to strengthen tax administration and push for the immediate passage of the tobacco and alcohol excise and fiscal incentives bills) would be necessary,” the World Bank said.
It’s women’s month!
“Support women every day of the year!”
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 #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
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
