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9/12/13 11:12 PMInflation dips to 4-year low in August despite bad weather, oil price hikes - InterAksyon.com
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Trade standstill looms inZamboanga peninsula afterPPA shuts down city port10-Sep-13, 4:02 PM | Darwin G.Amojelar, InterAksyon.com
COCKTALES | Court upholdsSan Miguel, stops LucioTan's Tanduay from using'Ginebra' brand10-Sep-13, 3:48 PM | Victor C.Agustin
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Rebound in electronicspushes up July exports10-Sep-13, 10:49 AM | Arnold S.Tenorio, InterAksyon.com
Inflation dips to 4-year low in Augustdespite bad weather, oil price hikesBy: Maricel E. Burgonio and Darwin G. Amojelar, InterAksyon.comSeptember 5, 2013 10:26 AM
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MANILA - (UPDATE 3, 5:56 p.m.) Consumer price increases decelerated lastmonth despite bad weather and oil price hikes.
In a report, the National Statistics Office today said inflation dipped to 2.1 percentin August from 2.5 percent last July, making last month's figure the lowest sinceAugust 2009 (see infographic below). Last month's headline figure brought theeight-month average to 2.8 percent, well below the 3-5 percent full-year targetrange of the Bangko Sentral ng Pilipinas (BSP).
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9/12/13 11:12 PMInflation dips to 4-year low in August despite bad weather, oil price hikes - InterAksyon.com
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Socioeconomic Planning Secretary Arsenio M. Balisacan said lower inflation wasobserved in food and petroleumproducts despite the peso depreciation andweather disturbances during the period.
"Despite the adverse effects of typhoon Labuyo and tropical storm Maring,inflation rate of most food items declined on an annual basis. In Metro Manila,prices of meat and several vegetable items were even lower than in the previousyear," he said.
The average price of vegetables was lower by 2.6 percent compared to a yearago, while slower price hikes were recorded for meat, fish, fruits and other foodproducts and beverages.
Last month's inflation also was near lower end of the BSP forecast range for themonth of 1.9-2.7 percent.
BSP Governor Amando M. Tetangco Jr. said the August figure supports thecentral bank's assessment of a benign inflation environment.
"BSP will closely monitor developments, particularly geopolitical concerns in theMiddle East that may impact on the international prices of commodities," he said.
Tetangco said the BSP "has room in its policy tool kit to mitigate potential adverseeffects coming from these factors."
The central bank has kept its policy rates at record lows of 3.5 percent and 5.5percent for the overnight borrowing and lending windows since the start of theyear. The yields on its special deposit accounts likewise are at a record low oftwo percent across the board.
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9/12/13 11:12 PMInflation dips to 4-year low in August despite bad weather, oil price hikes - InterAksyon.com
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9/10/13 11:34 PMNumber of jobless Filipinos swells in July despite record 2Q economic growth - InterAksyon.com
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Number of jobless Filipinos swells inJuly despite record 2Q economicgrowthBy: Arnold S. Tenorio, InterAksyon.comSeptember 10, 2013 9:10 AM
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MANILA - (UPDATED 7:07 p.m.) The number of jobless Filipinos climbed despitethe record economic expansion in the second quarter of the year.
In the July round of its Labor Force Survey, the National Statistics Office (NSO)said the unemployment rate hit 7.3 percent, up from seven percent in the samemonth last year.
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This was despite the 7.5 percent growth in the country's gross domestic product(GDP) in the second quarter of this year - one of the fastest in Asia and wayabove the government's full-year target range of 6-7 percent.
The second-quarter GDP growth was faster than the 6.3 percent a year ago, sobrisker economic expansion this year didn't translate to more jobs.
Socioeconomic Planning Secretary Arsenio Balisacan blamed the uptick inunemployment on job losses in the accommodation and food service subsector,where 238,000 jobs were lost. Also shedding jobs were manufacturing at 28,000;mining and quarrying, 14,000; as well as in water supply, sewerage, wastemanagement and remediation, 6,000.
Balisacan also blamed unemployment on the faster growth in the labor force at1.9 percent to 64.5 million this year from 63.1 million last year.
He said the unemployed were predominantly young and lacking in skills andexperience required by employers. Of the total number of jobless Filipinos, 32.8percent were high school graduates, while 21.8 percent were college graduateswith 21.8 percent. College undergraduates comprised another 13.6 percent.
"Though quite contrary to expectations given the Philippine economy’s recentgrowth performance, these developments are not entirely unusual. As theeconomy grows and its structure transforms, it is normal, as shown byexperiences of other emerging economies, for employment to exhibit volatility aslabor markets adjust," Balisacan said.
"Growth tends to increase optimism among the working-age population such thatmore people become inclined to look for work. This may thus result in an increasein unemployment rate at certain times during the process of structural change,"he said.
NSO data however show that the labor force participation slipped to 63.9 percentthis year from 64 percent last year, indicating that the number of job-seekingFilipinos had declined.
The underemployed -- or those Filipinos who have jobs but are still looking foradditional income -- slipped to 19.2 percent this year from 22.8 percent in 2012.Balisacan however admitted that "this decline does not indicate a sustainabledowntrend."
"Ultimately, these figures show that employment creation remains a big challengein the country. This is why it is necessary to accelerate the revival of themanufacturing subsector, [which] has the highest backward and forward linkageswith the other production sectors of the economy," he said.
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9/10/13 11:34 PMNumber of jobless Filipinos swells in July despite record 2Q economic growth - InterAksyon.com
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9/10/13 11:36 PMYour share of the national debt at end-June: P59,250 - InterAksyon.com
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Your share of the national debt atend-June: P59,250By: Rain Castro, InterAksyon.comAugust 17, 2013 8:26 PM
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MANILA - Each Filipino's share in the government's debt burden last June got alittle heavier from a month ago.
Data from the Bureau of Treasury showed the government's unpaid debt rising byseven percent from P5.101 trillion in June last year to P5.451 trillion in the samemonth this year.
With an estimated 92 million Filipinos, the per capita burden at end-June amountsto P59,250 or P946 more than the P58,304 at end-May.
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The increase in every Pinoy's share in the national debt stemmed from the 14.8percent hike in the amount of money the government borrowed from localsources, mostly banks and other financial institutions that regularly participate inthe Treasury's auction.
Sixty-four out of every P100 in government debt outstanding at end-June wasowed to local lenders, with the remaining P36 due foreign creditors.
The higher borrowing from local sources was tempered by the five percent dropin fresh debt incurred from foreigners.
The government borrows money to make up for shortfalls in tax revenues, whichleads to budget deficits. At end-May, the fiscal gap stood at P42.83 billion.
Besides financing the deficit, government takes out fresh loans to pay downmaturing obligations, which reached P146.38 billion at end-May.
The government expects its debt to reach P5.779 trillion this year, an amountequal to 48 percent of the country's gross domestic product (GDP).
A measure of economic performance, GDP is the amount of final goods andservices produced in the country.
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dapat lang.. parusahan yang mga wlang hiyang nagnakaw atgumastos...ng pira na hidi nman sa kanila...pinaghrapan atpinagsikapan yan ng bawat pilipino! wlang hiya tlaga!
Reply · Like · August 19 at 7:34pm
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tang inang yan! di pa pinanganganak ang isang juan may utang na?dahil sa pagnanakaw ng mga hinayupak na mambabatas na yan sagobyerno! pangulong noynoy, sana naman ay gawan mo ng paraan nahuwag manakaw ang pera namen, ang mga buwis namen na galing sadugo't pawis namen! kailangan may maparusahan sa scam na yan!
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Mela Aguas Punzalan
d kapa pinapanganak...may utang ka na!
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9/10/13 11:36 PMYour share of the national debt at end-June: P59,250 - InterAksyon.com
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