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
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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