President Duterte’s economic managers have lowered the country’s economic growth targets, taking into account the impact of the mobility restrictions imposed in different parts of the country meant to prevent the spread of COVID19.
By Eileen Mencias, 18 Aug 2021
The Development Budget and Coordination Committee which is composed of the departments of budget and management and finance, and the National Economic and Development Authority cut this year’s growth outlook to 4 to 5% from 6 to 7%.
‘Pretty good’ GDP growth in Q2 – Dominguez
“The DBCC will continue to monitor the effects of the Delta variant and the enforcement of community quarantines, and proactively manage the risks to help the economy recover,” the DBCC said.
A slower economic growth set by the DBCC will mean lower revenues for the government, and ultimately, a higher reliance on debt.
Reality bites: Duterte’s economic managers lower 2021 GDP growth target
According to DBM documents, a one-percentage point increase in the GDP means P14.7 billion in additional revenues.
Consequently, a one-percentage point decrease means a P14.7 reduction in revenues.
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
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 #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
June 6: Migrant Workers Day
June 19: Filipino Youth Day
June 25: Day of the Filipino Seafarer
