by ABS-CBN News, Sep 26 2018
MANILA – The Asian Development Bank lowered Wednesday its economic growth outlook for the Philippines as the gross domestic product (GDP) growth “softened unexpectedly” in the first half of the year.
In an update of its Asian Development Outlook (ADO) 2018 report, the ADB revised its Philippine growth forecast to 6.4 percent from 6.8 percent for 2018 and 6.7 percent from 6.9 percent in 2019 reflecting moderation in agriculture output, exports, weakening peso and high inflation rate.
However, the ADB said growth could pick up by 2019 as inflationary pressures taper off due to tighter monetary policies.
“The Philippines’ growth outlook remains stable despite moderating slightly in the first half of the year, as the country’s economic fundamentals are strong,” said ADB country director for the Philippines Kelly Bird.
“We’re expecting growth to slowly pick up as public investment in infrastructure and social sectors accelerate and key economic sectors continue to perform solidly.”
The Bangko Sentral ng Pilipinas (BSP) has raised interest rates by a total of 100 basis points since May in a bid to tame down rising prices.
Analysts polled by Reuters expect the BSP to raise interest rates during a Monetary Policy meeting on Thursday, Sept. 27.
Meanwhile, developing economies in Asia could grow slower than expected due to the escalating trade tensions that could “test the region’s resilience,” the updated ADB report said.
— with a report by Reuters and Warren De Guzman, ABS-CBN News
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
