Govt’s cash use hits 97%

 

 

By Rose de la Cruz

 

While the previous administration opted to under-spend—thereby sacrificing basic social services and infrastructure spending—the Duterte administration prides itself with a 97-percent utilization rate of its notices of cash allocations.

 

In a press release, the Department of Budget and Management said as of end-September 2018 the NCA utilization rate hit 97 percent.

 

This means that government agencies were able to use the cash allocations authorized to them to finance the delivery of public services, said Budget Secretary Benjamin Driokno.

 

“It means that infrastructure agencies were able to pay contractors for…

Read more: Govt’s cash use hits 97%

New law to make financing more inclusive, says Pernia

 

 

 

By Rose de la Cruz

 

Socioeconomic Planning Secretary Ernesto Pernia said government has put in place interventions to address financing gaps in the country as part of the global efforts to narrow the global trade finance gap.

 

Speaking at the sidelines of the 2018 annual meetings of the International Monetary Fund-World Bank Group (IMF-WB) in Bali, Indonesia, Pernia said such efforts of the government are in the context of making financing more inclusive.

 

“We need to boost financial services to help our small and medium enterprises. More importantly, such services will establish an inclusive…

Read more: New law to make financing more inclusive, says Pernia

Net FDI leaps to $914 M in July

 

 

By Rose de la Cruz

 

Inflows of foreign direct investments (FDIs) leapt to $914 million in July 2018, more than double its level for the same period last year of $344 million, reflecting the continued positive investor sentiment on the Philippine economy from strong macroeconomic fundamentals and growth prospects.

 

Over 60 percent of FDI net inflows during the month were in the form of non-residents' investments in debt instruments issued by local affiliates (intercompany borrowings), which expanded to $584 million from $136 million in July 2017.

 

Net equity capital investments grew by 90.2 percent reaching…

Read more: Net FDI leaps to $914 M in July

Tugade’s sales pitch in London

By Chito Junia

TRANSPORTATION Secretary Arthur Tugade made sure that every centavo spent by the government during their recent visit in London would count by making a great sales pitch to European investors for the Philippines’ high impact projects especially the BuildBuildBuild! program. 

 Tugade made the presentation during the Philippine Economic Briefing, highlighting the profitable opportunities the Philippines are offering to investors.

The BuildBuildBuild! program is seen to strengthen the country's economy, increase incomes, and improve the nation’s investment climate that will lead to more jobs for Filipinos.

 

Connectivity

The secretary explained that for an archipelago like the Philippines,…

Read more: Tugade’s sales pitch in London

Exports maintain growth, but more needs to be done to sustain it

 

By Rose de la Cruz

  

Exports continued its growth for the third straight month despite global challenges but the National Economic and Development Authority says more needs to be done to sustain such growth.

 

The Philippine Statistics Authority said total trade grew for the fifth consecutive month in August 2018 by 7.8 percent, reaching $15.8 billion. Imports and exports grew by 11 percent and 3.1 percent, respectively.

 

“In order to sustain the country’s trade growth, targeted interventions that aim to mitigate vulnerabilities, increase production capacities, and level up coping strategies to global market…

Read more: Exports maintain growth, but more needs to be done to sustain it

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