NEDA Cites Need for a Stronger Planning Culture in Government

 

 

To ensure optimum use of scarce human and financial resources, the government must have a stronger culture of planning to fully synchronize planning, investment programming, budgeting and implementation.

 

The National Economic and Development Authority said this would help achieve national economic and patrimony goals stated in the Constitution.

 

Socioeconomic Planning Secretary Ernesto M. Pernia, citing studies by the World Bank, the Asian Development Bank, the Organization for Economic Cooperation and Development and the Philippine Institute for Development Studies, showed that the country’s planning, policy-making, programming, and budgeting processes have been largely fragmented, uncoordinated, and often interrupted.…

Read more: NEDA Cites Need for a Stronger Planning Culture in Government

NEDA Calls for Innovation-led Industrial Policy

 


An industrial policy propelled by innovation is needed to drive the country’s manufacturing growth amid the bleak near-term outlook of the sector, the National Economic and Development Authority (NEDA) said.


While majority of the manufacturing subsectors grew in production volume and value, the total manufacturing index posted negative growth in November 2019, based on the latest data from Philippine Statistics Authority (PSA)’s Monthly Integrated Survey of Selected Industries (MISSI). The year-on-year Volume of Production Index (VoPI) declined by 6.1 percent while the Value of Production Index (VaPI) was 5.8 percent lower relative to the same month last year. This…

Read more: NEDA Calls for Innovation-led Industrial Policy

BSP closes 2 small local banks

 

 

By Rose de la Cruz

 

Two small banks were closed by the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas recently. Their closures have no impact on the banking industry as their total assets are equivalent to less than 0.02 and 0.002 percent of the entire banking system.

 

The AMA Rural Bank of Mandaluyong, the banking arm of the AMA Group of Companies of Amable Aguiluz and the 5th largest capitalized rural bank in the country, has been placed under receivership of the Philippine Deposit insurance Corp. by virtue of an…

Read more: BSP closes 2 small local banks

 Bankers project 6 to 7 percent growth in next 2 years

 

By Rose de la Cruz

 

Despite global uncertainties, the local banking industry projects gross domestic product to grow between 6 and 7 percent in the next two years, according to the recently-released Banking Sector Outlook Survey (BSOS) conducted by the Bangko Sentral ng Pilipinas.


Similarly, the respondents are optimistic about achieving double digit growths in assets, loans, deposits and net income for the Philippine banking system. The bullish outlook on the banking system indicates that banks will continue to provide an environment conducive to the sustained domestic economic growth.

The new BSOS section on Fintech/Cybersecurity Plans underscored the…

Read more: Bankers project 6 to 7 percent growth in next 2 years

BSP pushes adoption of National QR Code standard for payments

 

 

 

To ensure the efficiency of payment systems in support of inclusive economic development, the Monetary Board has approved a policy requiring the adoption of a National Quick Response (QR) Code Standard for payments.  This Standard is necessary for ensuring interoperability of QR-enabled payment and financial services.

 The QR technology is the most convenient and cost- efficient means of moving funds from one account to another.  Hence, the use of interoperable QR Codes has been gaining traction as an alternative to the traditional debit and credit cards.

 

A QR code contains most, if not all, of the…

Read more: BSP pushes adoption of National QR Code standard for payments

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NEDA Cites Need for a Stronger Planning Culture in Government

    To ensure optimum use of scarce human and financial resources, the government must have a stronger culture of planning to fully synchronize... Read More...
NEDA Calls for Innovation-led Industrial Policy

  An industrial policy propelled by innovation is needed to drive the country’s manufacturing growth amid the bleak near-term outlook of the... Read More...
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