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.
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
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
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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