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Philippine economy at risk of overheating, World Bank says

By Audrey Morallo/philstar.com – Although the Philippine economy is one of the top three growth performers in the region, it faces several domestic risks such as overheating, higher inflation and climbing fiscal deficits, the World Bank warned on Monday. In its Philippines Economic Update, the World Bank said that the Read more ».....»»

Category: newsSource: thepinoy thepinoyApr 16th, 2018

World Bank says Philippine human capital investments to counter overheating

The Philippines needs more investments in infrastructure and human capital, particularly upgrading the skill sets of workers for higher-paying jobs to be able to counter risks of an overheating economy, the World Bank Group said......»»

Category: financeSource:  philstarRelated NewsApr 18th, 2018

World Bank expects Philippine economy to maintain growth in 2018, 2019

The World Bank expects the Philippine economy to "maintain" its growth rate in 2018 and 2019, adding that the country’s central bank should stay alert and ready to tighten monetary policy settings amid risks of an overheating economy......»»

Category: financeSource:  philstarRelated NewsApr 12th, 2018

BSP chief flags trade row risk

A TRADE ROW between the United States and China will limit growth opportunities for the Philippines and the global economy, the central bank chief said on Monday, even as the Trade secretary cited efforts to further diversify markets for Philippine goods. Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said it is “too […] The post BSP chief flags trade row risk appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 23rd, 2018

Shares outlook for the week: Market ‘correction mode’ to continue

Share prices could fall further this week with earnings season yet to heat up and investors expected to continue worrying over the economy and policy rate hikes. “I think the [stock market]will continue to be in a correction mode considering … reports of overheating by the World Bank,” Diversified Securities, Inc. equity trader Aniceto Pangan [...] The post Shares outlook for the week: Market ‘correction mode’ to continue appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsApr 23rd, 2018

Pernia: Philippines can exceed World Bank s growth estimates

An economic manager of the Philippine government said the country could surpass the latest growth forecast made by the World Bank, which expects the country’s economy to grow flat in 2018 and next year......»»

Category: financeSource:  philstarRelated NewsApr 13th, 2018

WB sees PHL sustaining growth pace

By Elijah Joseph C. Tubayan Reporter THE WORLD Bank sees the Philippines sustaining last year’s economic growth pace well into 2019, but said much depends on “timely” government spending on infrastructure as well as a close watch on rising inflation pressures and the risk of overheating. The World Bank’s East Asia and Pacific Economic Update […] The post WB sees PHL sustaining growth pace appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 13th, 2018

World Bank sees 6.7% PH growth

The World Bank sees the Philippine economy growing by 6.7 percent this year and next, similar to the pace of expansion last year, amid expectations of strong growth prospects across the region. In its East Asia and Pacific Economic Update April 2018 report titled "Enhancing Potential" released on Thursday, the World Bank kept its growth forecasts for the Philippines for 2018 and 2019 while projecting a slightly slower 6.6-percent expansion in 2020. The World Bank's gross domestic product growth projections for the next three years fell below the government's 7-8 percent target range until 2022. "Any growth above 6.7 percent would require vigorous investment in physical and human...Keep on reading: World Bank sees 6.7% PH growth.....»»

Category: newsSource:  inquirerRelated NewsApr 12th, 2018

World Bank expects stable 6.7% growth for PH in 2018, 2019

MANILA, Philippines – The World Bank Group expects the Philippine economy to continue growing at its current trajectory in the short-term, with strong public investment needed to raise that figure. The multilateral lender maintained its projected 6.7%  gross domestic product (GDP) growth for the country in 2018, while predicting the ........»»

Category: newsSource:  rapplerRelated NewsApr 12th, 2018

Sustained 6.7% growth forecast by World Bank

Stronger expansion tied to investments, ‘Build Build Build’ The World Bank expects the Philippine economy to keep growing by 6.7 percent this year and the next, with any acceleration to depend on robust investments and the success of the government’s ‘Build Build Build’ program. The projection — below the government’s 7.0-8.0 percent target range for [...] The post Sustained 6.7% growth forecast by World Bank appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsApr 12th, 2018

‘Grand Deception’ by Jun Ledesma

Letters From Davao: WHEN RAPPLER through its President, Maria Ressa, was caught trifling with an important tenet in the Philippine constitution that mandates that Philippine media should be 100% owned by Filipinos the Securities and Exchange Commission ordered it closed. Rappler was parading like it is wholly owned by Filipinos but turned out it accepted investment from Omidyar Network (ON) which is known for its notoriety in destabilizing heads of state that are not docile to America. It tried deception by claiming that the Philippine Deposit Receipts it issued to ON money was for philanthropic contribution. The attempt dragged them deeper in shit as PDRs are actually commercial instruments. When this trick did not work, Ressa again tried another act this time claiming that Omidyar signed a waiver on its veto power. Again this did not pass scrutiny of the SEC because the said waiver was discovered to be just a scrap of paper as the document was not notarized.  Running out of deceptive tricks Ma. Ressa went berserk when she was served the closure order and went about town crying her freedom is being curtailed by Pres. Rodrigo Duterte no less. Her partner Pia Ranada did the same screaming she will be jailed by Duterte’s military. The grandstanding, it was obvious, was to stonewall the criminal violation they committed and to paint Rappler and its staff headed by Ressa as victims of oppression and dictatorial regime of Duterte. Contrary to its claim that they have lost their freedom of expression, more than ever Rappler had increased the crescendo of its unfettered attack on no less than the President Duterte himself. Ressa spearheaded a Black Friday movement supported by a handful of students from where else by the University of the Philippines campus and the usual garrulous but moribund Liberal Party stalwarts headed by VP Leni Robredo. They were joined in by UN Rapporteur Agnes Callamard and her local counterpart Chito Gascon in denouncing the Duterte government for curtailing the freedom of the press. Other foreign-funded media outfits joined the fray for obvious reason.  Theirs is a cacophony of ridiculous chants. Robredo warned that the closure of Rappler is a symptom of a dark future of the country. The juvenile delinquents in the UP campus joined pipsqueak assemblies with screaming placards denouncing Pres. Duterte and his “malignant forces that continue to peddle lies to justify their tyranny and dictatorship”.  They cut classes to face the TV cameras and klieg lights unmindful of yet another spectacular grade the survey firms Social Weather Station and Pulse Asia showing an “excellent” grade on the sustained trust and popularity of the nation on Duterte which they had been flagellating no end.  No one seems to mind their issue about tyranny and dictatorship as the World Bank grudgingly declared that “DDS killed democracy in the Philippines but they haven’t killed the country’s vibrant economy”.  Forbes, an international business magazine, likewise quoted WB on its Global Economic Prospects, which asserts that “Duterte Philippines is the 10th fastest growing economy in the world”.  The statistics is a slap on the face of VP Robredo who remains to be an incurable pessimist despite the figures that cannot lie. She continues to see the future of the Philippines in dark glasses forgetting that she is a Vice President and therefore should have celebrated with the rest for the gains that the country achieved. For her part, Maria Ressa simply ignored what Forbes and WB declared.  Maybe out of outrage that the Robredo seemed to be out of sync and blinded by sheer politicking and negativism, UP Political Science professor and political analyst, Clarita Carlos,  made a five-worded message to The Vice President thus: “President Duterte moves the Philippines forward”. To those who denigrate Duterte from cutting the country’s umbilical cord to America, Professor Carlos had this to say. “Duterte has moved the Philippines away from the usual foreign policy and in turn ‘defined national interest’ by tracking his own way of foreign policy”. She admired Duterte for his political guts and courage.  It is indeed pathetic that while the Philippines rise several notches higher in political and economic arena the opposition and the foreign-aided media outfits shamelessly continue to belittle these achievements. It is no small feat that Philippines came out stronger in economic growth than China in the 3rd quarter of 2017. On the 4th quarter moreover China rallied (6.9%) and landed on top of Asian countries followed by Vietnam (6.8) and Philippines 6.7%. The Philippines however has been growing more than 6% for nine consecutive quarters and that sustained growth is best among Asean nations. Any which way you look at it, that spells economic stability and investment grade for investors service firms like Moody’s and other international credit rating institutions. Cause and effect is a simple gauge to measure the impact of the tyranny and dictatorial regime that Rappler and its sympathizers have been accusing the Duterte regime. But as I always say, no one can quarrel with success especially when institutions of unquestionable stature put the positive figures across. Expect the economy to grow even faster in 2018 when infrastructure spending commences under the Duterte’s Build, Build, Build program. As we all know, the government had earmarked P8.4-trillion to achieve the mega infrastructure projects comprising of railways, highways and bridges, irrigation’s, airports and seaports to name a few. The job opportunities that these programs will generate are equally mind-boggling. […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsFeb 1st, 2018

PH growth to remain fastest in Asean

  The World Bank expects the Philippines to sustain robust economic growth in the next three years even as public investments are seen slowing down. "The Philippines will continue to be the fastest-growing economy in the Association of Southeast Asian Nations (Asean), despite some stabilization of investment growth," the Washington-based multilateral lender said in its January 2018 Global Economic Prospects report released Wednesday morning (Philippine time). The World Bank projected the Philippines' gross domestic product (GDP) to grow 6.7 percent in 2018 and 2019, before slightly slowing to 6.5 percent in 2020. The World Bank's forecasts for the next three years were n...Keep on reading: PH growth to remain fastest in Asean.....»»

Category: newsSource:  inquirerRelated NewsJan 10th, 2018

World Bank hikes 2017 growth forecast for Philippines

MANILA, Philippines — After the Philippine economy grew faster than expected in the third quarter, the World Bank has upwardly revised its 2017 growth projec.....»»

Category: newsSource:  philstarRelated NewsDec 15th, 2017

BSP remains vigilant over potential economic overheating

MANILA, Philippines – The chief of the  Bangko Sentral ng Pilipinas (BSP) said the Philippine economy has not overheated yet, but if it does show signs of overheating, the central bank would be ready to step in. An overheated economy happens when good economic growth causes high inflation rates and ........»»

Category: newsSource:  rapplerRelated NewsNov 21st, 2017

Asia under water: How 137 million people’s lives are being put at risk – CNN News

Khorsheeda Khatun had been left with nothing &'8212; then that too was washed away. The 28-year-old fled her home country of Myanmar in January with her two daughters, escaping the latest outbreak of violence, and was living in the Kutupalang Makeshift Settlement in Bangladesh when cyclone Mora arrived five months later and displaced up to 500,000 people. &'8220;My house was shattered. It broke the wooden planks supporting my hut and blew away the polythene rooftop. The wind and water destroyed whatever little possessions we had,&'8221; she told UNICEF workers in June. Several weeks later, across the Himalayas in South China, over 12 million people were forced to flee their homes as flood waters rose for yet another year. In China's southeastern Jiangxi province alone, flooding this year has so far caused $430 million in damages and economic losses. In neighboring Hunan province, 53,000 homes have been destroyed &'8212; and the flooding has yet to fully recede. Increasingly severe weather, triggered by climate change, is putting hundreds of millions of people at risk across the rapidly developing countries of southern Asia. &'8220;In the next 30 years, it is projected that heavy rainfall events will be increasing &' in Asia, by about 20% for sure,&'8221; climate scientist Dewi Kirono at Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) told CNN. Southern Asia is already the wettest area on the continent and one of the wettest regions in the world,receiving an average of at least 1000mm of rainfall a year. As the rains fall harder, more than 137 million people in India, Bangladesh and China will be put at risk of coastal or inland flooding, more people than in the rest of the Asia-Pacific combined, a study in 2012 found. Aggravating flooding through poor drainage and short-sighted planning is the sprawling, rapid urban growth across South Asia, built to accommodate the millions of rural residents moving to cities. &'8220;You still have to have proper draining. It was a green field and now it's an urban area. Quite often, if you don't do that, (because) you've concreted everything the flood run-off is so much higher and the deaths are much worse,&'8221; Oxford University visiting fellow and WWF advisor Paul Sayers told CNN. The majority of flood-related deaths and injuries worldwide since 1950 have been in three countries: China, India and Bangladesh. According to statistics from Belgium's Universite Catholique de Louvain's Emergency Events Database, since 1950, more than 2.2 million people in these countries have been killed by flooding. That includes the estimated two million people who died during the disastrous 1959 floods in China. The world's leading authority of climate change, the Intergovernmental Panel on Climate Change (IPCC), wrote in its latest report the Asia region was already suffering &'8220;huge economic losses&'8221; from weather and climate disasters, with one quarter of the entire world's economic losses from disasters in Asia alone. As flood swept through central China in July 2017, leaving devastation in its wake and almost 90 people dead or missing, locals took to Weibo to express their horror. &'8220;The road is blocked, the electricity is downed, water is polluted, no phone signal is detected, elderly (people) and children are waiting for food,&'8221; said one user living in Shilong Village in Hunan province. Photos accompanying the post showed cracked walls, piles of trash and mud everywhere. &'8220;The major district has turned to a dead city,&'8221; another user said. Almost every year in the past decade, more than 1,000 people have died in China, India and Bangladesh from flooding, according to the Database, and millions of dollars in damage has been done. The problem centers around three of the great Himalayan rivers of South and East Asia: The Ganges, Brahmaputra and Yangtze. About 500 million people, or 50% of the population in India and Bangladesh, and about 300 million people, or about 25% of the population of China, live within the flood basins of these three rivers. Taken together, the three waterways support an estimated 14% of the world's total population. In China alone, the enormous Yangtze flood plain, full of fertile soil and easy river access, is responsible forabout 40% of China's GDP. &'8220;Many Asian cities, and especially some megacities, have been built in the deltas of major rivers where ports could link the cities to the global economy,&'8221; a report by the Asian Development Bank in 2012 said. When the heavy rains higher up in the flood plains flow into these rivers, water levels rise dramatically &'8212; and floodwaters pour into the surrounding cities and towns. For example, this year, torrential rains caused a Yangtze tributary in Hunan to rise a record 3.2 meters above the warning level, bursting its banks and swamping crops and houses. Still, these factors have been here for years. Why is the danger growing now? Flooding in urban environments is more costly in terms of lives and loss of property because without a natural way to disperse the floodwaters they can cause damage &'8220;beyond the scope of the actual (flood),&'8221; experts say. &'8220;A lot of the urbanization &' has happened in a largely unplanned matter. For instance they don't have risks adequately taken into account, they don't invest enough in sustainable drainage,&'8221; Abhas Jha, the World Bank sector manager for Transport, Urban and Disaster Risk Management for East Asia and the Pacific, said. Of course the huge rush of rural residents to China and India's cities hasn't helped, as cities expand deeper into floodplains and build hurriedly to accommodate their citizens. [&'].....»»

Category: newsSource:  mindanaoexaminerRelated NewsJul 25th, 2017

Philippines to grow 6.9 percent in 2017, 2018: World Bank

he Philippine economy may........»»

Category: newsSource:  manila_shimbunRelated NewsApr 11th, 2017

World Bank upgrades Philippine growth forecasts

MANILA, Philippines - The World Bank now expects the Philippine economy to grow 6.8 percent this year—faster than the 6.4 percent forecast it made in October.....»»

Category: financeSource:  philstarRelated NewsDec 15th, 2016

Air pollution deaths cost PH $2.8B in 2013

DEATHS caused by air pollution cost the Philippine economy $2.8 billion in foregone labor output in 2013, according to a study released on Thursday by the World Bank Group and the Institute for Health Metrics and Evaluation (IHME). The unrealized labor pr.....»»

Category: newsSource:  manilatimes_netRelated NewsSep 8th, 2016

Market to remain volatile amid overseas tensions

VOLATILITY may prevail in the week ahead, following the Philippine Stock Exchange index’s (PSEi) sharp decline last week due to a mix of geopolitical concerns and fears of an overheating economy.  The bellwether PSEi ended 0.57% or 44.48 points higher to 7,726.72 last Friday, managing to eke out gains after its steep fall on Thursday. The […] The post Market to remain volatile amid overseas tensions appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 22nd, 2018

IMF: Philippine growth fastest in ASEAN, 2nd worldwide

The Philippines is expected to be the fastest growing economy in Southeast Asia and second fastest in the world over the next two years as it remains resilient to external shocks, according to the latest World Economic Outlook released by the International Monetary Fund......»»

Category: financeSource:  philstarRelated NewsApr 18th, 2018

WB sees Ph sustaining 6.7% growth

The World Bank expects the Philippines to sustain stable economic growth this year and the next, noting the country should invest more in infrastructure and human capital to achieve further growth. In its East Asia and Pacific Economic Update released on Thursday, the Bank said the Philippine gross domestic product….....»»

Category: newsSource:  journalRelated NewsApr 17th, 2018