by magnolia_eic | Jun 18, 2010 | Headlines, National News
ECONOMIC Managers on Wednesday approved a new 5.0-6.0% growth target for 2010 — significantly higher than the 2.6-3.6% range it replaced but down from a proposed 5.9-6.9% — following the first quarter’s surprisingly strong 7.3% uptick.
Other macroeconomic targets were maintained, Finance Secretary Margarito B. Teves told reporters, but the budget deficit could increase to a fresh high even as revenue agencies exceed their collection goals.
“Based on our fine-tuning of the recommendation of the technical working group of the DBCC and analyzing the factors that will drive GDP (gross domestic product) growth, we ended up with the 5.0-6.0% [target],” Mr. Teves said.
The interagency Development Budget Coordination Committee, which sets the country’s macroeconomic targets, met yesterday to discuss proposals submitted by its executive technical board. Officials who attended the board’s meeting last week said one of the recommendations was a 2010 GDP growth goal of 5.9-6.9%.
While the deficit target of 3.6% of GDP will be maintained, Mr. Teves said increased spending to sustain the growth momentum could push the nominal shortfall to around P300 billion from the current P293 billion.
The budget deficit hit a record high of P298.5 billion last year, equivalent 3.9% of GDP. (PIA-Bohol)
by magnolia_eic | Jun 17, 2010 | Election 2010, Headlines, National News
THE remaining 22 winning party-list organizations will still have to wait for at least another two weeks before they can finally be proclaimed, a Commission on Elections (Comelec) official said Tuesday.
Comelec Commissioner Rene Sarmiento said they cannot proclaim the remaining party-list groups because they are still waiting for the results of the special polls in some areas where elections were earlier postponed.
He specifically cited areas in Lanao del Sur, Basilan, Tawi-Tawi, Abra, and Sulu, where special elections still need to be held. He said that about 12,000 to 20,000 votes are expected to be cast in these areas.
He noted, however, that by the time President-elect Benigno “Noynoy” Aquino III delivers his State of the Nation Address, the party-list representatives would have all been completed.
Aquino will deliver his first SONA in late July.
The Comelec had earlier proclaimed 28 winning party-list organizations, six of whom were awarded two seats each. (PIA-Bohol)
by magnolia_eic | Jun 16, 2010 | National News
ANG pangulo sa Sugar Regulatory Authority kon SRA seryoso gayud sa paggukod sa mga magpalabi og pagginansiya ug ni insister nga walay rason nga mosaka ang presyo sa asukal.
Matud pa ni Administrator Bernardo C. Trebol nga ang nasud aduna pay igong supply sa asukal ug nilalis nga ang naghinobrang pagsaka sa presyo sa asukar nagpasabot nga may mga magpapatigayon nga nagpalabi og pangganansiya.
Gibalik ni Trebol ang nahiunang pahayag sa SRA nga dakpon ug ikiha nila ang mga masakpan niini.
Gi hisgutan ni Trebol ang pag-abot sa 150,000 tonelada metrikang imported nga asukar ubos sa National Food Authority’s Tax Expenditure Subsidy ug ang dugang 100,000 tonelada metrika nga igo na sa panginahanglanon sa mga konsumedor sa nasud.
Ang maong importasyon gituyo sa pagtulay sa supply gikan karon hangtud na sa Nobyembre, diin magsugod ang panahon sa paggaling.
Sa sayo pa, ang SRA ni angkon nga adunay igong inventory sa mga warehouse ug ni insister nga kon adunay pagsaka sa presyo sa asukar, hinimo ra kini sa mga magpapatigayon nga nagpalabi og pangganansiya. (PIA-Bohol)
by magnolia_eic | Jun 16, 2010 | Headlines, National News
PRESIDENT-elect Benigno “Noynoy” Aquino III will take his oath as the Philippines’ 15th president at the Quirino Grandstand in Manila, his camp said Tuesday.
Aquino spokesman Edwin Lacierda said Noynoy’s inauguration and oath-taking would be held at the Quirino Grandstand because it could accommodate more people than the original preferred venue, the Quezon City Memorial Circle.
The President-elect said he intends to hear Mass at his parents’ grave on June 30.
He is also open to riding the same car with outgoing President Arroyo.
Tradition has it that the outgoing president would leave the inauguration site on board a private vehicle once the new president is sworn in.
Aquino will take his oath before Supreme Court Associate Justice Conchita Carpio-Morales. After the ceremony, he will convene his first Cabinet meeting followed by the Vin d’Honneur at Malacañang Palace. (PIA-Bohol)
by magnolia_eic | Jun 12, 2010 | Headlines, National News
FROM Shanghai, China, President Arroyo called president-elect Benigno Aquino III to congratulate him on his proclamation on Wednesday.
The two are expected to interact once more on inauguration day when the outgoing and incoming presidents ride in one car, following tradition, just like in 1992 between incoming President Fidel Ramos and outgoing President Corazon Aquino, and in 1998, between President Ramos and incoming President Joseph Estrada.
Tradition and ceremony in the inaugural was the main topic in the first formal meeting of the transition teams of President Arroyo and President-elect Aquino.
The meeting was held last Thursday at the office of Executive Secretary Leandro Mendoza. There were 6 representatives from the administration, and 4 from Aquino’s camp.
There is no final decision yet on the venue of the inaugural.
One possibility is the Quezon Memorial Circle. But the Palace raised the suitability of the venue, given the erratic weather.
After the inaugural parade, the President is set to return to the Palace for his first Cabinet meeting and Vin D’ Honneur. (PIA-Bohol)
by magnolia_eic | Jun 12, 2010 | Business, Headlines, National News
CONSUMER confidence in the next 12 months has become more optimistic due to the outcome of the recent elections.
In the latest Consumer Expectations Survey (CES) of the Bangko Sentral ng Pilipinas (BSP), the consumer confidence index (CI) for the year ahead jumped to a record 10 percent from 5.1 percent a quarter ago and -7.6 percent a year ago.
In particular, the survey showed that the next three months’ CI reached its second highest level since the nationwide survey started in 2007, although the pessimists continued to outnumber the optimists but only by a small margin.
CI for the next quarter reached -1.8 percent, higher from the -4.8 percent recorded in the previous quarter.
“The positive outlook for the next quarter mirrored the rebound in consumer confidence in other countries such as the United States, China, Mexico, Hungary, Slovenia, and Czech Republic,” BSP said. (PIA-Bohol)
