ABS-CBN News, Dec 27 2016
MANILA – The peso could weaken to P51 to the dollar next year and P55 in 2018, as policy tightening in the US drives funds out of emerging markets like the Philippines, UBS said.
The peso touched the P50-per dollar level twice in the last two months. It weakened to P49.835 in intra-day trading Tuesday.
“We look for USDPHP (Philippine peso) at 51 in 2017 and 55 in 2018,” UBS said in a research note, citing a sharp deterioration in the current account over the last four quarters.
Economic growth is also expected to slow in 2017 due to the lack of election spending that caused gross domestic product to expand by as much as 7.1 percent this year, UBS said in a research note.
UBS said the economy could grow by 5.6 percent next year and 6 percent in 2018.
Anticipating delays, UBS said a boost from planned record spending on infrastructure would not be felt until 2018.
August 12 –
International Youth Day
“Empowering youth,
building generations!”
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
August –
Aug 1-7 World breastfeeding week
Aug 9 – International Day of the World’s Indigenous Peoples
Aug 12 – International youth day
Aug 19 – World humanitarian day
Aug 23 – International Day for the Remembrance of the Slave Trade and Its Abolition
Monthly Observances:
Farms Safety Month
Breastfeeding Awareness Month
Weekly Observances:
Aug 17-23: Made in the Philippines
Product Week
Aug 29-Sept 5: Rice and Corn Week
Daily Observances:
Aug 1: Family Planning Day
Aug 9: National Indigenous Peoples Day
Aug 12: International Humanitarian Law Day
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