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.
Sept 5 – Oct 5
National Teachers Month
“Pay teachers decent wages,
Pay attention to teachers!”
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
#Report Corruption #SearchPosts #TakePicturesVideos
September
Monthly Observances:
Health, Safety, and Sanitation Month
Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 5)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: 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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