Economy

Statement of Economic Planning Secretary Arsenio Balisacan during the 2014 Year-end Media Briefing [Delivered at the NEDA Executive Lounge, Pasig City, on December 17, 2014] To our friends from the media, colleagues in government, ladies and gentlemen, good afternoon.

The country is likely to slow its transition into an upper-middle-income country in 16 years, if it would fail to implement the necessary policies needed to accelerate economic growth, the Asian Development Bank (ADB) said.

MANILA, Philippines – The Institute of Chartered Accountants in England and Wales expects the Philippine economy to be the fastest growing in Southeast Asia next year.

With only a 3rd quarter economic growth of 5.3%, experts say that ‘normalized’ government spending, private consumption, and investments will help the country stay on its growth track MANILA, Philippines – Thursday’s announcement that the gross domestic product (GDP) performance for the 3rd quarter slowed down to 5.3% indicates the economic growth target for 2014…

MANILA, Philippines – Filipinos may have to wait five to 10 more years to reap the benefits of long-term economic growth due to the still high birth rate in the country, even as the United Nations population agency urged the government to invest in the youth.

What does it profit our Philippine economy if it grows fast but loses its soul in terms of shortcomings in inclusiveness and social progress, with lots of unresolved challenges like one of ASEAN’s highest unemployment rates, massive poverty, lack of basic social services, ecological dangers, and breakdowns in peace and order?

MANILA, Philippines – There are 594 days to go before President Benigno Aquino III’s term ends, thus the question about priorities until 2016. Arsenio Balisacan, National Economic and Development Authority Director-General and Economic Planning Secretary, said the government’s top priority remains to be poverty reduction through “massive generation of quality employment.”

MOODY’S Corp. and the Organization for Economic Cooperation and Development (OECD) highlighted the Philippines’ improving economic position at the Asia-Pacific Economic Cooperation (APEC) Chief Executive Officers’ (CEO) Summit, a Palace official said.

MANILA, Philippines – The solid pace of the country’s economic growth is at risk from the critical energy supply, a global energy expert said in a forum organized by the American Chamber of Commerce of the Philippines.

MANILA, Philippines – The country’s leading businessmen presented to President Aquino yesterday an eight-point recommendation on reforms that need to be implemented immediately in several economic sectors.

MANILA, Philippines – The economic and fiscal reforms instituted by former President and now Pampanga Rep. Gloria Macapagal-Arroyo continues to benefit the country and help protect it from external challenges, a former finance chief said yesterday.

MANILA, Philippines – The International Monetary Fund has cut its 2015 growth forecast for the Philippines as merchandise exports are expected to post a slower growth.

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.

The increasing ability of people to exchange goods, services and labour directly, via online platforms, is transforming how modern economies operate. But to ensure that the rise of the “sharing economy” works efficiently and improves conditions for all parties, some regulation is needed. People can now circumvent many traditional service businesses. They can share transport,…

ECONOMIC GROWTH in the first half of 2014 is slowing rather than picking up. The unusually strong growth of 7.2% in 2013, an election year, is unlikely to be replicated in 2014 and 2015. The last four “peaks” (2004, 2007, 2010 and 2013) occurred during election years. The emerging consensus is that growth in 2014…

From the National Economic and Development Authority Strong gains in the country’s employment in July 2014 show continued signs of dynamism in the labor market and sustained confidence in the economy, according to the National Economic and Development Authority (NEDA).

AMID a flurry of great economic news for the country, from a higher competitiveness ranking to increased growth, a group of business leaders, who banded together as Citizenswatch, organized a forum that aimed to search for other ways that could push the country several notches higher. Their recommendations show that the “doables” in leveling up…

The Philippines emerged as the fifth biggest economy among the 10-member states of the Association of Southeast Nations in 2013, based on the country’s gross domestic product (GDP) at current prices which stood at $269 billion, data from the Asean showed.

MANILA, Philippines–Business groups on Thursday welcomed the faster-than-expected economic growth in the second quarter amid the truck ban and port congestion in Manila, and other issues like questions about the stability of power supply and prices.

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MANILA, Philippines – The Philippine economy seems headed for long-term growth with the possibility of expanding beyond 7.2 percent even in the absence of election-related spending, the Department of Finance said.

WALL STREET banking giant Morgan Stanley has downgraded to “underweight” its tag on Philippine shares, along with Thai equities, according to a note it sent to clients on Tuesday that laid out its outlook for the second half.

WASHINGTON – The International Monetary Fund warned Thursday that geopolitical risks in Ukraine and the Middle East are looming over a global economy already hit by slowdowns in the US and China.

MANILA, Philippines – Economic growth is adding pressure for the grant of emergency powers to President Aquino to address a looming power crisis, Energy Secretary Carlos Petilla said yesterday.

MANILA (Reuters) – The Asian Development Bank (ADB) has cut its growth forecast for Southeast Asia this year, as the Thai coup, Indonesia’s mineral export ban and industrial park riots in Vietnam take a toll.

PROSPECTS for the Philippine economy remain rosy given robust demand conditions, monetary authorities noted during a policy meeting last month, with reconstruction efforts following last year’s calamities also expected to provide a boost.

THANK GMA: Talking of DAP as a stimulus for development, there are many analyses saying that the country’s remarkable growth is not so much the fruits of Aquino’s governance as a result of the adroit economic management by the previous Arroyo administration.

MANILA, Philippines – The Philippine economy is showing signs of fatigue but is likely to recover in 2015, British bank HSBC said in its latest Asia Economic Quarterly Report. It noted that after eight quarters of above six percent growth, “the economy is showing signs of fatigue.”

The truck ban imposed in the city of Manila and a slowing world economy will likely dampen the country’s exports growth in the second half of 2014, thus, diminishing the export sector’s contribution to economic expansion for the year, local economists said.

Reader reaction to my piece last week (July 2, 2014) on Balamban, Cebu chronicling the town’s economic success as host to foreign direct investment (FDI) has been viral and approving. It reflects the nation’s thirst for good examples of development.