Govt spending peaks in July at P328.1 Billion

 

 

By Rose de la Cruz

 

Government spending reached its peak in July 2018 reaching P328.1 billion or an increase of P83 billion, or 34 percent over that of last year. The spectacular rise in spending was due to infrastructure and other capital outlays and subsidies to government corporations.

 

For the first seven months of the year, disbursements have reached P1.932 trillion, higher by P355.7 billion or 23%, year-on-year. “The fiscal numbers in July 2018 confirm progress in our efforts to reduce underspending and instill public financial reforms,” said Budget and Management Secretary Benjamin E. Diokno. “Government…

Read more: Govt spending peaks in July at P328.1 Billion

 

By Rose de la Cruz

 

The Department of Budget and Management replenished last Sept. 5 the budget of the Department of Social Welfare and Development for quick response during calamities and disasters.

 

The DBM released P662.5 million to augment the quick response fund (QRF) of the agency’s Disaster and Response Management Program.

 

The QRF is a stand-by fund used to cover relief and rehabilitation in case of disasters and calamities.

 

According to the DSWD request for fund release, the P662.5 million- allotment will be used to purchase family food packs, for the conduct of Disaster Risk Reduction Management (DRRM) programs (such as purchase of relief supplies, cash or food-for- work programs, shelter assistance), for administrative and operational expense and for a standby fund for disaster augmentation.

 

Prior to the augmentation, the DSWD’s balance for QRF was P103.6 million, warranting its replenishment.

 

The DBM said it is standard practice to replenish the fund in anticipation of forthcoming disasters or calamities.

Read more: More funds given to DSWD for quick response during disasters

 Business Confidence drops to lowest level in Q3

 

 

By Rose de la Cruz

 

Business outlook during the third quarter 2018 on the economy dropped to 30.1 percent, the lowest level since Q1 2010. This means that the number of optimists declined but still outnumbered the pessimists during the quarter. The confidence index is computed as the percentage of firms answering the affirmative less those in the negative with respect to their views on given indicators.


Respondents attributed their weaker sentiment during the third quarter to: (a) increasing prices of basic commodities in the global market, augmented by the effects of the implementation of the…

Read more: Business Confidence drops to lowest level in Q3

NEDA calls for agri reforms to lower food prices

 

 

By Rose de la Cruz

 

The National Economic and Development Authority said that a committed effort from agricultural agencies to boost output and introduce policy reforms is needed to bring down prices of agricultural products.

 

A comprehensive and strategic trade policy in place is important now more than ever. Importation of agricultural products to boost supply at the domestic level must be coordinated and harmonized with the local stock inventory and production,” said NEDA Secreetary Ernesto Pernia.

 

He said the fisheries sector needs to use good quality fingerlings in aquaculture, especially for milkfish (bangus) following…

Read more: NEDA calls for agri reforms to lower food prices

What Fourth Industrial Revolution, Rasul-Bernardo asks

 

 

By Rose de la Cruz

Amina Rasul-Bernardo, founder and president of the Philippine Center for Islam and Democracy, asked during a press conference recently held at the Philippine Institute of Development Studies, asked where the Bangsamoro region figures in the Fourth Industrial Revolution (FIRe) of the administration.

 

“We are not into the Fourth Industrial Revolution; we are into the actual revolution,” Rasul-Bernardo said. 

She added most of the talks on FIRe are only applicable to Manila, and, to some extent, the major cities of “Christian Mindanao”, such as Davao. 


As such, the Bangsamoro, the “marginalized,…

Read more: What Fourth Industrial Revolution, Rasul-Bernardo asks

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