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.
April –
MONTH OF PLANET EARTH!
“Climate change, El Nino,
and the Middle East conflict
are wreaking havoc on Planet Earth.”
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!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
April – Month of Planet Earth
Weekly Observances:
April 24-30 — World Immunization Week
Daily Observances:
Apr 5 — International Day of Conscience
Apr 7 — World Health Day
Apr 15 — International Day of Wellness
Apr 21 — Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health
at Work
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