STATE underspending and a faster rise of prices of widely used goods are “stumbling blocks” to the country’s economic growth, but these constraints will likely be addressed this semester, the University of Asia and the Pacific (UA&P) and the First Metro Investment Corp. (FMIC) said in their latest joint monthly report.
“It would appear that the remaining stumbling blocks for an even stronger rebound in H2 are relatively high inflation rate and NG (national government) underspending,” FMIC and UA&P said in the September issue of The Market Call.
“We, however, see these two main concerns addressed in H2.”
Inflation is expected to have already peaked at July and August’s 4.9% — which brought year-to-date inflation to 4.4%, against a 4.5% revised full-year official forecast — with start of palay harvest last month and additional supply of rice to arrive from abroad this month.
Public spending, the report said, should rise this semester, citing President Benigno S.C Aquino III’s request to Congress for a supplemental budget “that would offset the cutting off of DAP (Disbursement Acceleration Program) funds”, a stimulus package that was disallowed in July by the Supreme Court for being unconstitutional.
State spending rose 6% to P1.296 trillion in the eight months to August from the past year’s P1.222 trillion. In the first half, spending on infrastructure alone hit P136.6 billion, 10.8% up from a year ago but 30% short of a P195.3-billion target for January-June. –Businessworld
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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