STRONG SPENDING during the holidays, driven partly by remittances from overseas Filipino workers (OFW), should help drive economic growth faster than officially projected, economists said yesterday.
Augusto B. Santos, deputy director-general of the National Economic and Development Authority (NEDA), said in a phone interview that both remittances and spending may be stronger than usual “due to the economic recovery.”
University of Asia and the Pacific economist Cid L. Terosa concurred, noting that “holiday spending and OFW remittances… will help the economy achieve strong fourth quarter growth… and eventually push 2010 GDP [gross domestic product expansion]…to 7%.”
GDP grew by a faster-than-expected 7.9% in the first half, prompting NEDA officials to remark that economic expansion this year could surpass the official 5%-6% projection.
Central bank data show that growth of personal consumption expenditure accelerated to 5.14% in the first half from 4.29% last year, while OFW remittances rose 7.4% to $12.18 billion in the eight months to August. — JJAC, Businessworld
April –
MONTH OF PLANET EARTH!
“Climate change, El Nino,
and the Middle East conflict
are wreaking havoc on Planet Earth.”
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
Monthly Observances:
April – Month of Planet Earth
Weekly Observances:
April 24-30 — World Immunization Week
Daily Observances:
Apr 5 — International Day of Conscience
Apr 7 — World Health Day
Apr 15 — International Day of Wellness
Apr 21 — Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health
at Work
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