MANILA, Philippines – The Philippines and other major export-led economies are expected to experience substantial recovery next year, according to the United Nations.
In a yearend update report, the UN Economic and Social Commission for Asia and the Pacific (ESCAP) said recovery for the Philippines is expected at 3.5 percent; Singapore, 3.5 percent; Taiwan, 3.5 percent; Thailand, 3 percent and Malaysia 2.5 percent.
The Asia-Pacific region is leading the global economic recovery, with the growth rate in 2010 forecast at 6.3 percent – the highest in the world, according to the ESCAP’s “Economic and Social Survey of Asia and the Pacific 2009: Year-end Update.”
However, the report also found that considerable uncertainties remain about the extent and durability of the recovery, and that the region’s recovery depends very much on external factors.
Key to the region’s exports, for example, will be the recovery of demand in developed countries.
The report, which examines progress since the launch of ESCAP’s flagship publication in March, indicated China is forecast to experience the fastest growth in 2010, at 9 percent, driven by public and private investment.
The domestic-demand led economies of India and Indonesia are also forecast to grow fast, at 7.5 percent and 5 percent, respectively, driven by domestic consumption and investment, the report added.
It is too early to withdraw existing supportive policies, and encouraged greater intra-regional cooperation to improve the ability of countries to better weather such crises in the future, according to the report.
Nagesh Kumar, ESCAP’s chief economist, said the aftermath of the crisis has revealed the shifting axis of global growth to within the region and the need to devise regional supporting mechanisms through greater macroeconomic, trade and investment integration.
“Asia and the Pacific also must take a leading role commensurate with its importance in the global economy in discussions on reforming the international institutional and regulatory architecture,” he said. — Pia Lee-Brago, Philippine Star
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
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
