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
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
