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
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
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
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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