NEDA says hikes in commodity prices are not due to TRAIN but expectations

 

By Rose de la Cruz                

 

The National Economic and Development Authority said the hike in prices of food commodities is due jointly to the effects of recent calamities and the expectations (or psychological pressures) that TRAIN law (or the tax reform for inclusion and acceleration) would lead to price escalations.

 

In a press release, officials of NEDA, Department of Finance, Bangko Sentral ng Pilipinas and the leading economists attending the meeting of the Senate Committee on Economic Affairs, chaired by Sen. Win Gatchalian, voiced a consensus that inflation in January was caused by several factors and the…

Read more: NEDA says hikes in commodity prices are not due to TRAIN but expectations

Phl-Japan sign loan agreement for ARBP III

 

By Rose de la Cruz

 

The governments of Japan and the Philippines signed today the loan agreement covering Phase III of the Arterial Road Bypass Project in Bulacan.

 

The project is meant to alleviate the serious traffic congestion and improve transportation capacity and efficiency around Plaridel Area by onstructing a bypass road of Philippine-Japan Friendship Highway.

 

At the signing of the loan agreement, Socioeconomic Planning Secretary Ernesto Pernia cited it as an important milestone for both the Philippine government’s public infrastructure development program, and in the bilateral cooperation between the Philippines and Japan.

 

The previous…

Read more: Phl-Japan sign loan agreement for ARBP III

Govt. disbursed P2.824 Trillion in 2017

 

 

By Rose de la Cruz

 

Government disbursements for 2017 was an impressive P2.824 trillion, up 11 percent over 2016 owing to a strong infrastructure spending and higher subsidies to government corporations.

 

The Department of Budget and Management said for December alone, it spent P330.2 billion, or about 17 percent more on a year-on-year basis.

 

“We are glad to report that the fiscal program of the government is in full swing and that underspending had been trimmed to a mere 3 percent in 2017 if interest payments are included and 2 percent if excluded,”…

Read more: Govt. disbursed P2.824 Trillion in 2017

Report shows biggest threats to global economy

 

 

By Rose de la Cruz

 

The prolonged fall in major stock markets of the world and the growing protectionist policies of the United States are threats that could destabilize the global economy and political order, according to the Economist Intelligence Unit, the world’s leading resource for economic and business research, forecasting and analysis.

 

Following closely are the possible outbreak of hostilities in the South China Sea due to festering territorial disputes and a major cyber-attack crippling corporate and government activities.

 

Other key risks identified include a disorderly and prolonged Chinese slowdown, a major military confrontation on…

Read more: Report shows biggest threats to global economy

Approaches to the sewage problem of Boracay pushed

 

 

By Rose de la Cruz

 

Now that the sewage problem of Boracay—the famed long white sand beaches of the Visayas—has been laid open by President Duterte, who even warned of shutting it down, practical and doable approaches were proposed by Rep. Michael Romero of 1PACMAN partylist and assistant majority leader.

 

The measures include immediate, medium term and long-term solutions to restore the glory that was Boracay, which is now riddled with effluents from household sewages.

 

Romero said the tourism industry and local governments in Boracay has long neglected sustainability concerns that the Department of Environment…

Read more: Approaches to the sewage problem of Boracay pushed

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