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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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