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GDP must grow 7.7% in 2nd half

 

 

By Rose de la Cruz

 

The country must expand by 7.7 percent in the second half to be able to reach an actual gross domestic product growth of at least 7 to 8 percent for the whole of 2018.

 

Socioeconomic Planning Secretary Ernesto Pernia reported that GDP growth in the second quarter was only at 6 percent—which though second only to Vietnam (6.8 percent) and China (6.7 percent) but ahead of Indonesia (5.3 percent)—“is lower than what we hoped for.”

 

Given the 6.0 percent GDP growth outturn, as well as the downward revision…

Read more: GDP must grow 7.7% in 2nd half

Belaro wants closer watch on seminars, workshops etc. against abuses

 

 

By Rose de la Cruz 

Rep. Salvador Belaro Jr., 1-Ang Edukasyon partylist, wants a closer monitoring of seminars, workshops, conferences and other forms of structured continuing professional education that he said has become an industry in itself.

 

“I have received many complaints and reports of how unjust the CPD implementation has become,” he said.

 

For the professional teachers alone, there already are about 200 PRC-accredited CPD providers.

 

The training they offer all cost money and time both of which teachers in public and private schools have very little to spare.

 

He commended the…

Read more: Belaro wants closer watch on seminars, workshops etc. against abuses

Gross reserves dip to $76.89B

 

 

By Rose de la Cruz

 

The country’s gross international reserves dipped to $76.89 billion, from its level in June 2018 due to the outflows brought about by payments made by the national government for maturing foreign exchange obligations.

 

Thus explained Bangko Sentral ng Pilipinas Gov. Nestor Espenilla Jr. as he said
that part of the decline was also payment for foreign exchange operations of BSP and revaluation adjusttments of BSP’s gold holdings resulting from declining gold price in the global market.

 

These were partially tempered by the NG’s net foreign currency deposits and the…

Read more: Gross reserves dip to $76.89B

Anti-overloading policy for trucks suspended anew

 

 

By Rose de la Cruz

 

Despite the adverse impact of overloaded trucks to national and local roads and highways, the Departments of Transportation and Public Works have decided to suspend anew the enforcement of this policy until January 1m 2019.

 

In a statement, the departments said the second suspension of the anti-overloading policy implementation is intended to give truckers a chance to comply to international weight standards.

 

The policy is intended to cover trucks and trailers. Its initial deadline was June 30, 2017 but was reset in August 2017 to December 31, 2017. And now…

Read more: Anti-overloading policy for trucks suspended anew

Regional projects worth P13.5-B get NEDA-ICC nod

 

 

By Rose de la Cruz

 

The National Economic and Development Authority Board’s Investment Coordination Committee approved late July, the improvements worth P13.5 billion to three regional projects that would strengthen the government’s commitment to regional growth.

 

Changes in scope and cost were discussed for the Davao City Bypass Construction Project; Panguil Bay Bridge Project; and Flood Risk Management Project in Cagayan River, Tagoloan River, and Imus River.

 

Of the regions involved, three (Regions XI, II, CALABARZON) posted Gross Regional Domestic Product (GRDP) growth rates last year of 10.9 percent, 7.2 percent, 6.7 percent, respectively.…

Read more: Regional projects worth P13.5-B get NEDA-ICC nod

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