By: Ben O. de Vera, Inquirer Business, Jan 24, 2019
MANILA, Philippines — The Philippine economy grew 6.2 percent in 2018 , missing the government’s growth target as the increase in prices slowed consumer spending as well as business expansion last year.
The Philippine Statistics Authority (PSA) reported Thursday that the gross domestic product (GDP) expanded by 6.1 percent in the fourth quarter of 2018, bringing the full-year average below the already downgraded 6.5-6.9 percent goal.
Last year’s GDP expansion was also lower than the 6.7 percent posted in 2017.
To recall, inflation or the rate of increase in prices of basic commodities hit a 10-year high of 5.2 percent last year due to new or higher excise taxes slapped on consumption, skyrocketing global oil prices during the third quarter, as well as food supply bottlenecks, especially of the Filipino staple rice.
Socioeconomic Planning Secretary Ernesto M. Pernia had admitted that inflation was the “spoiler” to the economy’s growth potential in 2018.
The government targets a higher 7-8 percent GDP growth in 2019. /muf
World Day for Safety and Health at Work
“Safety and health at work every day!”
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:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
