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.
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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