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
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
