Tag: recession

Dedicated Power Plant For Pax Silica’s Energy Needs

Dedicated Power Plant For Pax Silica’s Energy Needs

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To ensure that the ambitious Pax Silica will have its very own power supply to meet its needs, the Bases Conversion and Development Authority (BCDA) recently announced that the proponents are studying the construction of a dedicated power plant, according to a business news report by GMA News.

Previously a P7 billion investment of the National Grid Corporation of the Philippines (NGCP) for Pax Silica’s energy supply was prompted. New Clark City was chosen to host the artificial intelligence (AI) hub.

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

The Bases Conversion and Development Authority (BCDA) said Sunday that proponents of the US-led Pax Silica project in New Clark City, Tarlac, are studying the construction of a dedicated power plant to ensure the facility does not compete with nearby residential communities for electricity.

Pax Silica has faced scrutiny over its projected resource requirements, with the BCDA estimating that the facility could require up to 3 gigawatts (3 million kilowatts) of power at full development.

“‘Yung kuryente, pinag-aaralan nila na magkaroon ng dedicated power plant… na hindi ito magsasapanganib sa supply ng kuryente lalo na para sa mga residential na komunidad. Ayaw rin nila ‘yon,” BCDA President and CEO Joshua Bingcang said in an interview on Super Radyo dzBB.

(Regarding power, they are studying the establishment of a dedicated power plant so that it will not jeopardize the electricity supply, especially for residential communities. They also want to avoid that.)

Bingcang said officials have discussed power and water requirements with the project’s proponents and partners from the United States, Japan, and South Korea, who also want to ensure that the facility has sufficient utility supplies.

“Kasi kung nakikita nilang wala, hindi rin pupunta ‘yung mga industriya na ito. So gusto nila, ‘pag pupunta rin sila dito, is stable, reliable at maaasahan ang kuryente,” Bingcang said.

(Because if they see that there is insufficient supply, these industries will not come. So if they invest here, they want the power supply to be stable, reliable, and dependable.)

“Kaya ngayon po, kasama na po, hindi lang po sa paggawa ng mga planta doon sa New Clark City, tinitingnan din nila ‘yung ecosystem,” he added.

(That is why they are looking not only at building plants in New Clark City but also at the entire ecosystem.)

Bingcang said this ecosystem includes the availability and reliability of power and water, as well as infrastructure, airports, seaports, and other facilities.

Clean, green energy – The BCDA said Pax Silica aims to use clean and green energy, with solar farms among the primary options being considered.

“So ang una po naming tiningnan dito ay solar farms. So meron na po tayong inaprubahan na solar project po diyan—ang mamumuhunan po ay sa Saudi Arabia,” Bingcang said.

(The first option we looked at was solar farms. We have already approved a solar project there involving an investor from Saudi Arabia.)

“Susunod po, hinihikayat na rin o nire-regulate na rin ng Department of Energy magkaroon ng mga battery storage… Kasi ang solar farm po ay mga ilang oras lang po, ‘pag gabi, wala na, so kailangan meron pong imbakan o storage ng baterya para sa maipon na enerhiya sa mga solar farm,” he added.

(Next, the Department of Energy is encouraging and regulating the use of battery storage. Solar farms generate power only during the day, so battery storage systems are needed to store energy for use when solar power is unavailable.)

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think Pax Silica will eventually have its very own, high-capacity power plant to ensure it has sufficient energy while sparing the local communities that relied on the national power grid? Do you think solar power is sufficient for Pax Silica which will have AI-related projects?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Economic Weakness Continues As 2nd Quarter GDP Growth Lands At 2.3%

Philippines Economic Weakness Continues As 2nd Quarter GDP Growth Lands At 2.3%

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The economy of the Philippines slowed down even further in the 2nd quarter of 2026 landing at 2.3%, according to a news report by GMA News. Embarrassingly, this made the Philippines an economic weakling among the members of the Association of Southeast Asian Nations (ASEAN).

By comparison, the economy of the Philippines achieved only 2.8% growth in the 1st quarter of this year. The nation’s economic growth for 2025 was at 4.4%

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

The Philippine economy continued to slow down in the second quarter of 2026, still due to a subdued investor and consumer sentiment amid the lingering effects of the flood control corruption scandal and the inflationary pressure brought by Middle East crisis-induced global fuel price shocks, the Philippine Statistics Authority (PSA) reported on Friday.

At a press conference, PSA chief and National Statistician Claire Dennis Mapa said the economy, as measured by gross domestic product (GDP)—the value of goods and services produced in a period— grew 2.3% in the April to June 2026 period, slower than the 2.8% growth seen in the first quarter of 2026.

This is the economy’s weakest footing since the fourth quarter of 2009 —excluding the contraction seen during the COVID-19 pandemic years— when the GDP growth rate was at 1.8%.

The 2.8% second quarter GDP growth put the Philippines behind its neighbors in Southeast Asia that already released their April to June economic growth rates such as Indonesia at 5.29%, Vietnam at 8.39%, and Singapore at 5.7%.

The first half of 2026 GDP growth rate stood at 2.6%, still behind the government’s downwardly revised target of 3.5% to 4.5% for the entire year.

Despite the economic slowdown, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said, “What we are experiencing right now, I believe, is transitory, temporary.”

“Domestic demand remained subdued, mainly because total investment continued to contract as public construction declined. Household consumption growth also moderated amid higher inflation, job losses, and lower remittance receipts arising from the Middle East conflict,” Balisacan said.

Household final consumption expenditure grew 2.8%, slower than 5.2% in the same period last year, weighed by contractions in transport (-7.5%), alcoholic beverages and tobacco (-1.9%), recreation and culture (-0.8%), and restaurants and hotels (-0.2%).

Government expenditure, likewise, slowed down by 8.3% from 8.7% year-on-year; while gross capital formation (GCF) —which measures investments— contracted by 9.2% from a growth rate of 0.9% a year ago.

The decline in GCF was due to the decline in construction at 14.8% with government spending on construction contracting 32.4%.

“Although public construction is a small part of the economy, the amount of contraction, at 32%, brought a significant impact on the economy,” Balisacan said.

“The sharp decline in public construction was the main contributor in the decline in investments… driven by continuous caution due to the flood control scandal,” the country’s chief economist said.

Among the major economic sectors, agriculture posted a growth rate of 2.7%, slower than 7% year-on-year; industry declined by 2.4%, from an increase of 2.1% weighed by the construction’s depreciation; services grew slower at 4.5% from 6.9%.

Agriculture, industry, and services sector contributed 7.5%, 27.9%, and 63.3%, respectively to the total GDP during the quarter.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will eventually fall into a recession in 2027? Do you believe that the hosting of the ASEAN summit by the Philippines will result in economic miracles and more foreign investment?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines July 2026 Inflation Still Above Government Ceiling

Philippines July 2026 Inflation Still Above Government Ceiling

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Inflation here in the Philippines for the month of July 2026 landed at 6.2% which is clearly above the government’s comfortable ceiling of 2% to 4%, according to a business news report by GMA News.

To put things in perspective, posted below is an excerpt from the GMA News business report. Some parts in boldface…

The country’s inflation rate slowed down further for the third straight month in July 2026 amid improved fuel supply conditions during the period, when the Middle East conflict was waning.

At a press briefing on Wednesday, National Statistician and Philippine Statistics Authority (PSA) chief Claire Dennis Mapa said inflation — the rate of increase in the prices of goods and services — slowed down 6.2% last month from 6.4% in June 2026.

July’s inflation print brought the year-to-date rate to 5%, still above the government’s comfortable ceiling of 2% to 4%.

Mapa said the main contributor to the downtrend was the slower increase in the Transport index at 11.9% from 12.8% month-on-month.

“Ito [Transport] ay may 57.4% share sa pagbaba ng pangkalahatang inflation sa bansa (It had a share of 57.4% to the overall deceleration of the country’s inflation),” the PSA chief said.

This as inflation for gasoline and other passenger transport by road slowed down to 34.1% from 39.2% and 5.3% from 5.4%, respectively.

Meanwhile, food inflation was steady at 5.3%, as lower meat prices and slower increases in vegetable prices offset sharper rice inflation.

“Every peso saved from slower price increases means more room for the family budget for food, transport, education and other essential needs,” Department of Economy, Planning and Development (DEPDev) Secretary Arsenio Balisacan said in a statement.

“While challenges remain, particularly in managing food price pressures, these results show that our interventions are making a difference in easing the impact on Filipino households,” Balisacan said.

The DEPDev chief the government’s UPLIFT Committee will continue implementing targeted interventions to protect vulnerable sectors from the effects of higher prices and other economic shocks.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government is running out of new ideas on bringing down inflation? Do you think the high inflation is a sign that the economy of the Philippines will grow weaker going into 2027? Do you think inflation will end up above 5% by the end of this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippine Economic Growth Slows Down To 2.8% In 1st Quarter Of 2026

Philippine Economic Growth Slows Down To 2.8% In 1st Quarter Of 2026

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While the Philippines is hosting the summit of the Association of Southeast Asian Nations (ASEAN), the economy of the nation grew only 2.8% in the first quarter this year and it is the slowest growth in five years, according to a business news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Philippine economy grew at its slowest pace in five years, expanding just 2.8 percent in the first quarter of 2026, as the country grapples with the persistent government spending slump and mounting inflation shocks.

The country’s economy, as measured by the gross domestic product (GDP), decelerated from the 3.0 percent expansion recorded in the final three months of 2025.

It also significantly missed the 3.4 percent median growth projected by economists in a survey, and marked the weakest quarterly output for the country since the first quarter of 2021, when the economy contracted 3.8 percent during pandemic-era lockdowns.

Growth was severely dragged down by a prolonged slump in public construction following a massive government flood-control scandal late last year, which has continued to stall state spending.

Moreover, the global energy shock triggered by the Middle East conflict in late February also sent domestic oil and input costs soaring, severely denting consumer and business confidence.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think heavy government spending will boost the economy somehow? Could it be possible that the Philippines could fall into a recession this year or next year? How do you rate the performance of the economic managers of the national government?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippine economy grew only 4.3% in 2nd quarter

Philippine economy grew only 4.3% in 2nd quarter

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Achieving economic growth of 7% this year has gotten much more challenging for the Philippines as the economy grew by only 4.3% in the 2nd quarter of 2023, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA news report. Some parts in boldface…

The Philippine economy continued its downtrend as it grew at a slower pace in the second quarter of 2023 — its slowest pace in nine quarters since the country entered the positive territory in the middle of 2021 following a pandemic-induced recession— amid high inflation that tempered consumption during the period, the Philippine Statistics Authority (PSA) reported on Thursday.

The economy, as measured by gross domestic product (GDP) or the total value of goods and services produced in a specific period, grew by 4.3% during the April to June 2023 period, PSA chief and National Statistician Claire Dennis Mapa said at a press conference.

This is slower than the 6.4% growth rate seen in the first quarter of the year and far slower than the 7.5% GDP growth seen in the same quarter last year. Quarter-on-quarter, it posted a decline of -0.9% during the period.

This also marks the fifth straight quarter of deceleration for the country’s GDP, and its slowest footing in nine quarters since it exited the pandemic-induced recession in the second quarter of 2021.

The economy was pulled out of recession in the April to June period of 2021 with a GDP growth rate of 12%.

The second quarter print brought the year-to-date economic growth rate at 5.3%, according to Mapa.

To achieve the government’s 6% to 7% target, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the economy “needs to grow by 6.6% in the second half.”

“Notwithstanding the challenges, we believe this is still attainable,” Balisacan said, reading the joint statement of the economic team.

The country’s chief economist earlier floated that the second quarter GDP growth is expected to “further moderate.”

High inflation, interest rates – The slower growth came amid a still high inflation environment and the consequential costly interest rates to temper rising prices.

As of the first half of the year, inflation or the rate of increase in the prices of goods and services clocked in at 7.2%, still far above the government’s comfortable ceiling of 2% to 4%.

To tame inflation, the Bangko Sentral ng Pilipinas (BSP) raised monetary policy rates by a cumulative 425 basis points since May last year.

“For the second quarter, the moderate economic expansion was driven by increases in tourism-related spending and commercial investments, but was tempered by high commodity prices, the lagged effects of interest rate hikes, the contraction in government spending, and slower global economic growth,” Balisacan said.

Notably, Household Final Consumption Expenditure (HFCE) contracted by 0.1% quarter-on-quarter. Likewise, Agriculture, Forestry, and Fishing posted a quarter-on-quarter decline of -0.97% in the second quarter. Industry and Services sectors also saw contractions of 0.7% and 1.02%, respectively, during the period

Let me end this piece by asking you readers: What is your reaction to this recent development? What do you think must be achieved to boost economic growth for the rest of 2023? Do you think the Philippine economy will achieve growth of at least 6% by the end of this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

World Bank sees 5.4% economic growth for the Philippines in 2023

World Bank sees 5.4% economic growth for the Philippines in 2023

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As it continues to make predictions about different nations’ economies around the world, the World Bank (WB) revealed that it sees the Philippines achieving 5.4% economic growth in 2023, according to a BusinessWorld news report. The said forecast goes against the more optimistic 2023 target of the Philippine government.

To put things in perspective, posted below is the excerpt from the BusinessWorld news report. Some parts in boldface…

PHILIPPINE economic growth would probably slow to 5.4% this year, from an estimated 7.2% in 2022, amid a looming global recession, the World Bank (WB) said.

In its latest Global Economic Prospects report, it trimmed its gross domestic product (GDP) growth forecast for the Philippines from its 5.6% projection in June.

The World Bank’s latest GDP forecast is below the government’s 6-7% growth target for the year.

“After the strong rebound in 2022, growth in Malaysia, the Philippines and Vietnam is expected to moderate as the growth of exports to major markets slows,” it said.

In December, the World Bank upgraded its forecast for the Philippines to 7.2% for 2022 from 6.5%, amid a surge in private consumption and robust export growth.

The Philippine economy expanded by 7.6% in the third quarter, bringing the nine-month average to 7.7%. The strong third-quarter data prompted economic managers to say that full-year GDP growth would settle above the 6.5-7.5% target.

“The recovery from the pandemic-induced recession has been uneven across the region. Output surpassed pre-pandemic levels last year in Cambodia, the Philippines and Thailand,” the World Bank said.

However, a “sharp, long-lasting” slowdown in the global economy this year is expected to affect nearly all regions, particularly developing countries, World Bank President David Malpass said in a statement.

“Global growth is expected to decelerate sharply to 1.7% in 2023 — the third weakest pace of growth in nearly three decades, overshadowed only by the global recessions caused by the pandemic and the global financial crisis,” the multilateral lender said in the report, noting this is 1.3 percentage points below previous forecasts.

The World Bank said the latest estimate reflects “synchronous policy tightening aimed at containing very high inflation, worsening financial conditions and continued disruptions from Russia’s invasion of Ukraine.”

It said urgent global efforts are needed to mitigate the risks of a global recession and debt distress in emerging market and developing economies.

By the end of 2024, GDP levels in these markets will be about 6% below pre-pandemic levels, according to the report.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you agree with the WB’s analysis about slower economic growth for the Philippines this year? What do you think will help the Philippines achieve the more optimistic targets set by the national government?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco/.

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