The country’s chief economist said the recent weakening of the peso should be viewed positively, adding that this augured well for the local manufacturing sector and would help generate badly needed jobs.
Economic Planning Secretary Arsenio Balisacan said the Philippine economy stood to gain from a modest depreciation of the peso against the US dollar.
With the weaker peso, Balisacan said imported goods become more expensive, thereby boosting demand for locally produced merchandise.
“What many people do not understanding is that when the peso falls, domestic industries become more productive,” he told reporters Friday.
The peso, which weakened by about 8 percent against the greenback last year, has sustained its downtrend.
It touched the 45-to-a-dollar territory last week for the first time since 2010.
The depreciation was attributed mainly to the US Federal Reserve’s easing of its stimulus program for the US economy, which has shown signs of improvement.
The tapering of the stimulus measure, done through heavy monthly purchases of bonds, has led to a dumping of emerging market assets in favor of dollar-denominated ones.
Emerging markets’ currencies, including the Philippine peso, have depreciated as a consequence. -Michelle V. Remo, Philippine Daily Inquirer
Read more: http://business.inquirer.net/160807/neda-says-ph-to-gain-from-weak-peso#ixzz2r024H0e8
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March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
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:
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
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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