commerce – Author Carlo Carrasco

SBMA And Leechiu Property Consultants To Advance Freeport Investments And Tourism

March 14, 2026March 9, 2026carlocarrasco

Having been to the Subic Bay Freeport Zone many times already, the former US Naval base has been a strong engine for tourism, commerce and investments for the Philippines over the decades. Each time I visited, there was also something new to discover and the economic modernization happened gradually.

In a serious bid to enhance investments and accelerate the growth of tourism, the Subic Bay Metropolitan Authority (SBMA) announced that it has teamed up with the Leechiu Property Consultants (LPC) and their officials had important talks recently.

To put things in perspective, posted below is an excerpt from the official announcement of the SBMA. Some parts in boldface…

Subic Bay Metropolitan Authority (SBMA) officials met with executives of Leechiu Property Consultants (LPC) to explore collaborative initiatives to accelerate tourism growth and investment promotion here.

Led by SBMA Business and Investment Group’s Senior Deputy Administrator (SDA) Renato Lee III, discussions focused on expanding high-impact tourism segments including cruise ship tourism, wreck diving, forest trails, and Meetings, Incentives, Conferences, and Exhibitions (MICE) activities.

David Lee-Chiu, CEO of Leechiu Property Consultants highlighted Subic Bay’s deep-water port and strategic location as key advantages in positioning the Freeport as a competitive cruise ship destination in Luzon.

Lee-Chiu also noted that increased cruise calls would drive growth across hospitality, retail, transport, and local enterprises.

Meanwhile, SBMA Chairman and Administrator Eduardo Jose L. Alino also mentioned “wreck diving” as a strong niche market, with Subic Bay’s historic shipwrecks that continue to attract both domestic and international divers.

Also discussed was the development and promotion of forest trails and eco-tourism experiences, recognizing Subic Bay Freeport’s protected forest areas as prime assets for sustainable tourism, nature-based recreation, and eco-adventure activities.

Let me end this post by asking you readers: What is your reaction to this recent development? If you have visited the Subic Bay Freeport Zone over the past three months, how was your stay and did you find the place worth revisiting? Do you think the SBMA can still achieve so much more in terms of tourism growth and business?

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

2025 Subic Bay Freeport Zone Workforce Surpasses 170,000

March 13, 2026March 7, 2026carlocarrasco

For decades, the Subic Bay Freeport Zone has been a hot spot of commerce, tourism and varied types of businesses which resulted in the creation of new jobs. Recently, the Subic Bay Metropolitan Authority (SBMA) officially confirmed that the Freeport workforce exceeded 170,000 in 2025 which is an improvement of over 4% compared with 2024.

To put things in perspective, posted below is an excerpt from the official announcement of the SBMA. Some parts in boldface…

The workforce in the country’s premier Freeport totaled 171,653 in 2025, according to the annual report by the Subic Bay Metropolitan Authority (SBMA).

According to a report from the SBMA Labor Department, this figure reflects a 4.4 percent increase from last year’s 164,400 recorded in 2024.

SBMA Chairman and Administrator Eduardo Jose L. Aliño said that the increase in the number of workers here results from President Ferdinand R. Marcos Jr.’s mandate to provide more employment opportunities for Filipinos.

He said that Olongapo City remains the biggest source of manpower, with 70,769 residents working here. He added that this was followed by Zambales with 31,621; Bataan with 22,897; National Capital Region with 7,077; Pampanga with 5,492; Tarlac with 2,199; and the remaining 31,598 from other parts of the country, including foreign workers.

Around 70.60 percent of workers, or 121,187, are male, while the remaining 29.40 percent, or 50,466 workers, are female, and employed by 4,744 Subic companies. Despite the disparity, female workers outnumbered male workers in the manufacturing sector, with 18,951 females and 18,242 males employed across 111 manufacturing companies in Subic.

Meanwhile, the Subic Bay Freeport’s services sector remains the biggest employer, which clocked at 67.32 percent of the workforce, with the manufacturing sector making up 21.67 percent. These are followed by the construction sector with 7.36 percent, and shipbuilding/marine-related services with 3.64 percent.

Aliño added that the services sector also has the biggest number of companies, with 4,129, followed by the construction sector with 356 companies, then shipbuilding/ marine-related services with 148 companies, and lastly the manufacturing sector with 111 companies.

He further said that more companies are still looking for employees, thru the SBMA Labor Department’s regular conduct of job fairs and posting job openings via online portals and bulletin boards at their offices near the Subic Bay Gym.

“Jobseekers can click on the SBMA Career Portal, where we provide an official list of vacancies from various Freeport locators. We encourage applicants to check the Subic Gym bulletin board for scheduled examinations and interviews,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are managing a business, have you thought about expanding and setting up a place inside the Subic Bay Freeport Zone? What is your current impression about the business and work environment inside Subic Bay right now?

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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Las Piñas City Government To Pursue Legal Action Versus Online Shopping Platforms Over The Selling Of Fake Friendship Route Stickers

March 5, 2026March 3, 2026carlocarrasco

In a serious move against the selling of fake friendship route stickers online, the City Government of Las Piñas that it will pursue legal action against three online shopping platforms that constantly made such items available to customers, according to a news report by the Manila Bulletin. The City Government reiterated that using fake friendship route stickers constitutes penalties.

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

The Las Piñas city government has intensified its crackdown on the illegal sale and use of counterfeit Friendship Route stickers and is preparing to pursue legal action against three online platforms.

Las Piñas City Mayor April Aguilar said the three online platforms were reportedly openly selling counterfeit Friendship Route stickers.

Aguilar stressed that legitimate Friendship Route stickers are distributed free of charge to residents of Las Piñas City.

She warned that selling or using fake stickers is a violation of City Ordinance No. 715-06 and may result in fines and possible imprisonment.

Under the ordinance, violators will be fined P500 for the first offense, P1,000 for the second offense, and P3,000 for succeeding offenses.

Those found violating other provisions of the ordinance may face a fine of up to P5,000 or imprisonment of up to six months, or both.

While the Manila Bulletin report did not mention the names of the online shopping platforms, the City Government’s official announcement explicitly mentioned Shopee, Lazada and Facebook Marketplace.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Did you notice that fake Las Piñas friendship route stickers have long been offered for sale in online shopping platforms with prices in the hundreds of Pesos each? Do you personally know anyone using a fake friendship route sticker while driving within the city? Do you hope that City Government’s move will compel the online shopping platforms to crack down on the sellers of the fake friendship route stickers?

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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Japan And Trump’s America To Speed Up Investment Plans Under $550 Billion Package

February 14, 2026February 13, 2026carlocarrasco

Remember Japan’s commitment of investing $550 billion into core industries in the United States? The two great nations had a high-level meeting in Washington and they agreed to speed up the selection of the first round of investment projects under the multi-billion Dollar package before they are sent to US President Donald J. Trump for approval, according to a news report by Kyodo News.

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

Japan and the United States agreed Thursday to speed up selection of the first round of investment projects under a $550 billion package that Tokyo committed to last year following months of tariff negotiations, with a summit of their leaders about a month away.

Hours after his meeting with U.S. Commerce Secretary Howard Lutnick in Washington, Japanese industry minister Ryosei Akazawa told reporters a “significant gap” remained and more coordination was required to serve the mutual interests of the two countries.

“In conducting negotiations, we are naturally keeping in mind the goal of making Prime Minister (Sanae) Takaichi’s visit to the United States a fruitful one,” he said.

Akazawa’s meeting with Lutnick was believed to be part of last-ditch efforts to sort out the first batch of Japanese investment projects to be carried out in the United States, before they are sent to President Donald Trump for final approval.

Although Akazawa, who serves as economy, trade and industry minister, said there was some progress, neither side could unveil any specifics. While refusing to elaborate, he suggested differences remained over interest rates and business risk assessments.

“In a nutshell, as far as we are concerned, high-risk, high-return (investments), given that they also involve taxpayers’ money, are not something we are interested in,” he said.

The meeting with Lutnick took place a week after Trump said he would welcome Takaichi to the White House on March 19.

Under a trade deal struck in July last year, Japan has committed to investing $550 billion in the United States by the end of Trump’s second term in January 2029, in exchange for his administration reducing tariffs on Japanese cars and other goods.

The massive figure represents a combination of investments, loans and loan guarantees from Japanese government-backed financial institutions.

Japan and the United States have agreed that the forthcoming investments will focus on strategic sectors, such as critical minerals, semiconductors, artificial intelligence and energy, to support their national security interests and economic objectives.

For the initial tranche of investments, the construction of gas-fired power generation facilities for data centers, the production of synthetic diamonds used in the semiconductor industry and the development of a port are among the leading candidates, according to Japanese officials.

The memorandum of understanding between Japan and the United States, signed by Akazawa and Lutnick in September last year, stipulates that Trump will ultimately select projects recommended by an “investment committee” chaired by the commerce secretary and composed solely of U.S. officials.

Earlier in the process, the so-called consultation committee — comprising officials from both countries — is tasked with identifying potential investment projects.

The United States will forward investment projects that gain Trump’s endorsement to Japan for review, with Tokyo given 45 days to respond and transfer the necessary funds to Washington.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the two nations will reach an agreement over the first round of investment projects under the $550 billion package? Do you think the remaining challenges will be resolved in due time? Are you looking forward to Prime Minister Takaichi’s Washington visit and meeting with President Trump this March?

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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Business Group Proposes New Blueprint To Solve Bottlenecks of Tourism In The Philippines

January 16, 2026January 11, 2026carlocarrasco

Things are clearly not looking good for the Philippines economically and also on international tourism. The Philippines was left behind by many of its Southeast Asian neighbors even as the region attracted more foreign tourists in 2025. Vietnam attracted more than 21 million foreign tourists last year and they are clearly benefiting from the ongoing tourism boom. That said, it is not surprising to see a local business group or federation make noise and urge the government to implement comprehensive reforms to solve the many problems of the tourism industry of the Philippines which the Manila Bulletin recently reported.

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

The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) is sounding the alarm on the Philippines’ lagging tourism sector, urging the government to enact sweeping reforms as international arrival figures fall behind regional competitors.

In a statement on Sunday, Jan. 11, FFCCCII President Victor Lim described the current state of the industry as a “pivotal” moment, arguing that structural changes are now an urgent economic necessity.

While neighboring nations in the Association of Southeast Asian Nations are reporting a robust post-pandemic recovery, the Philippines is struggling to regain its footing.

“We, the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII), urge immediate decisive and comprehensive tourism reforms,” Lim said.

Data from the first 11 months of 2025 showed that the Philippines recorded 5.24 million international arrivals, a 2.2 percent decrease from the same period a year earlier.

The end-November figure also remained 37 percent below the benchmark levels seen in 2019, before the pandemic disrupted global travel.

Lim said the decline posed a direct threat to the broader economy, noting that tourism is a critical engine of inclusive growth. The sector is a primary employer and a lifeline for micro, small, and medium enterprises across the archipelago.

The federation identified three systemic hurdles: a “hassle factor” caused by congested airports and poor digital connectivity, uncompetitive visa policies that act as a deterrent compared to the streamlined entry points of regional peers, and a fragmented marketing strategy that fails to capitalize on the country’s cultural heritage.

To reverse the trend, the FFCCCII proposed a “Blueprint for Immediate Reform.” The plan calls for an “ASEAN-competitive” visa regime and a “connectivity revolution” to modernize primary gateways and facilitate easier travel between islands.

Lim also cited the need to pivot promotional efforts toward “The Philippine Experience,” moving beyond traditional sightseeing to highlight the nation’s history and hospitality.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the FFCCCII is correct about the current state of Philippine tourism? Do you find the FFCCCII’s proposal sensible and believable? Do you think the Department of Tourism (DOT) should take the FFCCCII’s proposal very seriously? Do you thinking it is inevitable that other business chambers from around the Philippines will push for tourism industry reforms?

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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Japan’s Green Tea Exports Reach Highest Level In Over 70 Years

December 21, 2025December 14, 2025carlocarrasco

Have you been buying green tea products imported from Japan lately? Japan achieved a major milestone this year as its green tea exports in the first ten months of 2025 (January to October 2025) have reached the highest level in more than seventy years, according to a news release by Kyodo News. There is still more that could be achieved as the year comes to an end.

To put things in perspective, posted below is an excerpt from the news release of Kyodo News. Some parts in boldface…

Japan’s green tea exports in the first 10 months of this year reached the highest level in over 70 years on the back of the booming overseas market for matcha powder and the depreciation of the Japanese yen, government and industry data showed Saturday.

Tea exports between January and October grew 44 percent from the same period last year to 10,084 tons. The United States was the top destination, importing 3,497 tons in the 10 months, followed by Taiwan, Thailand and Germany.

Green tea exports have been increasing for nine consecutive years, reflecting the growing overseas popularity of Japanese foods among health-conscious consumers.

Despite rising overseas sales, annual shipments remained below 10,000 tons after peaking at 11,553 tons in 1954, partly as Chinese tea grew in popularity.

Despite sluggish green tea demand within Japan, tea leaf prices have been rising in recent years in line with falling production.

In 2024, Japan produced about 74,000 tons of tea leaves, more than 10 percent less than a decade earlier, amid declining demand for sencha used in brewing and an aging farming population.

Let me end this piece by asking you readers: What is your reaction to this development? Have been consuming green tea products from Japan over the past six months? If you did, what products are those and what were their brands?

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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BMI Sees Philippines GDP Growth Slowing Down To 5.2% In 2026

November 3, 2025October 25, 2025carlocarrasco

BMI, a unit of Fitch Solutions, officially lowered its 2026 gross domestic product (GDP) for the Philippines at 5.2% pointing a series of factors such as remittances slowdown, weaker investor sentiment, US tariffs on Philippine goods and the effects of the flood control corruption scandals, according to a Manila Bulletin news report.

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

Fitch Solutions’ unit BMI has sharply lowered its 2026 Philippine growth forecast to well below the government’s six- to seven-percent target, citing an expected slowdown in remittances, a weaker trade balance, muted investment sentiment, and downside risks to government spending stemming from the flood control fiasco.

“We expect remittance growth to slow due to tighter US [United States] immigration policy and a one-percent remittance tax on transfers from the US starting in 2026,” BMI said in a commentary published on Thursday, Oct. 23.

“A slowdown in remittances will weigh on domestic consumption, which will have an outsized impact on growth given the domestically driven economy,” BMI explained.

Against this backdrop, BMI has slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 5.2 percent, one-percentage-point (ppt) lower than the 6.2 percent it projected previously.

If realized, this would also fall below this year’s growth goal of 5.5 to 6.5 percent, and 2024’s actual pace of 5.7 percent.

Another policy by US President Donald Trump that could drag down the local economy is the 19-percent tariff on Philippine exports, but zero tariffs imposed on select American imports.

This US-Philippines trade setup, according to BMI, “will weigh on the trade balance in 2026.”

Goods exports growth in August was the slowest in 2025 as US tariffs took effect and exporters’ front-loading of outbound shipments ended.

The latest Philippine Statistics Authority (PSA) data showed that goods exports grew by 4.6 percent year-on-year in August, marking the slowest increase since the 1.9-percent decline in December 2024

BMI also believes investor sentiment will “likely” remain muted next year as “erratic US trade policies will weigh on global investor sentiment and limit foreign direct investment inflows [FDIs].”

Domestically, government spending could bear the impact of a scenario where the ongoing flood control probe leads to the unearthing of more corruption cases tied to infrastructure projects beyond flood control.

“It could lead to even tighter scrutiny on government spending and reduce spending substantially below fiscally programmed levels,” BMI said. Capital outlays had dropped by 10 percent to ₱112.9 billion as of August, according to the Department of Budget and Management (DBM).

Infrastructure spending is expected to hit ₱1.51 trillion in 2025, ₱1.56 trillion in 2026, ₱1.69 trillion in 2027, ₱1.9 trillion in 2028, ₱2.03 trillion in 2029, and ₱2.2 trillion in 2030.

Meanwhile, BMI retained its 5.4-percent Philippine growth forecast for this year, still below the lowered full-year target.

Let me end this post by asking you readers: What is your reaction to this development? Are you convinced that due to several internal and external factors, economic growth of the Philippines will be slower this year and next year? Do you agree with BMI’s findings about the Philippine economy?

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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BPI Warns Public About Rise Of Smishing Scams Ahead Of Christmas Season

November 2, 2025November 2, 2025carlocarrasco

With the Christmas season approaching, Bank of the Philippine Islands (BPI) warned the public about the rise of smishing as criminals have changed their strategies and used more sophisticated technology to steal people’s money, according to a Manila Bulletin news report.

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

Ayala-led Bank of the Philippine Islands (BPI) is cautioning clients about a sharp, pre-holiday surge in online banking fraud linked to smishing, noting that criminals’ tactics have evolved from simple text scams to using highly sophisticated tools to steal money.

“Consumer complaints are increasing… a lot of it is seasonal. During Christmas, when people receive their bonuses, these cases really go up,” Jon Paz, BPI enterprise information security officer and data protection officer, said during the bank’s cybersecurity roundtable with the media on Wednesday, Oct. 22.

Paz reported that around eight out of 10 online banking fraud cases last year were perpetrated through smishing attacks using International Mobile Subscriber Identity (IMSI) catchers and rogue apps.

He further noted that there were almost zero IMSI-catcher-related fraud cases in 2024, but incidents began appearing around December and skyrocketed by the second quarter of this year.

“Some of the authorities reported that those who were caught were reporting to Chinese nationals,” Paz added.

An IMSI catcher is a fake cell tower device used by scammers to intercept mobile signals and steal users’ personal and banking information.

Meanwhile, a rogue app is a malicious or fake mobile application that tricks users into granting permissions or entering credentials, allowing scammers to harvest personal and banking data.

Despite the increasing number of consumer complaints in the banking industry, Paz noted that BPI’s risk tolerance is “low—one incidence of fraud is one too many for us.”

While the bank cannot disclose its total allotment for app enhancements, BPI Chief Technology Officer Alex Seminiano stated that nearly 60 individuals are working across various functions—business, technology, and operations—to enhance the bank’s mobile app.

BPI said its mobile apps are equipped with an evolving security layer that can detect risky environments and devices, such as those that are jailbroken, use overlays, or allow side-loading, to prevent potential breaches.

Let me end this post by asking you readers: What is your reaction to this development? Are you concerned that smishing will affect members of your family or those in your local community? Were you scammed online during the past six months? How many people in your local community are aware of smishing right now? Did you receive any text messages that tried to convince you to hit the link provided?

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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Leechiu Property Consultants See Bright Future Ahead For Philippine Tourism Due To Key Factors

October 28, 2025October 19, 2025carlocarrasco

There is no denying the fact that the Philippines is having trouble attracting foreign tourists this year but for Leechiu Property Consultants there is still a bright future ahead for the nation’s tourism industry due to growth in domestic tourism and a few other factors, according to a Manila Bulletin news report.

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

Although Asian tourist arrivals decline, the Philippine tourism industry is still perceived to be entering “a new era of opportunity” because of the growth in domestic tourism, improved flight connectivity, and the 99-year lease reform.

Leechiu Property Consultants said in its third-quarter media briefing that, as investors refocus on long-duration assets, the country’s hospitality and leisure industries are expected to see renewed capital flows and expanded capacity through 2026.

“With the anticipated growth in domestic and long-haul tourism, along with increased hospitality FDIs (foreign direct investments) driven by the newly-approved 99-year lease to foreign investors, the tourism sector is poised to strengthen its position as a key investment area and a vital pillar of the Philippine economy,” said LPC Director of Hotels, Tourism, and Leisure Alfred Lay.

He said the sector continued its steady recovery in the third quarter of 2025, but “while there are signs of resilience, no significant shifts have yet created real momentum in foreign arrivals. Without a major catalyst, arrivals are unlikely to surpass 2024 levels.”

Traditional leaders, such as South Korea and China, show steep declines, while the USA, Japan, and Australia are emerging as stronger contributors, reflecting changing travel patterns and opportunities to diversify source markets.

While international arrivals remain below pre-pandemic peaks, Lay said “domestic travel is surging toward historic highs, establishing a solid foundation for long-term tourism growth and investment confidence.”

Domestic tourists are projected to reach 58.7 million in 2025, rising further to 62.2 million in 2026, a trajectory supported by the country’s forecast gross domestic product growth by 7.63 percent and 5.8 percent in 2025 and 2026, respectively.

Over the past two decades, domestic tourism spending has outpaced GDP, underscoring the sector’s resilience and capacity to drive nationwide economic activity.

Meanwhile, rising travel demand has spurred a wave of hotel developments nationwide, with a total of 5,210 new keys to be added in 2025—over 4,300 of which are expected to open in the fourth quarter.

A majority of these projects are led by domestic operators, reflecting local developers’ agility in capturing demand across destinations such as Metro Manila, Cebu, Boracay, Davao, and Palawan.

Lay said the newly approved 99-year lease law has created a strong foundation for long-term tourism investment as it provides global investors with the security to pursue large-scale resort and mixed-use developments.

Over time, the law is expected to stimulate foreign direct investment in tourism and hospitality, similar to the trends observed in the Maldives, where long-term leases have transformed the sector into a global investment hotspot.

Let me end this post by asking you readers: What is your reaction to this development? Do you think domestic tourism, improved flight connectivity and the 99-year lease reform will boost Philippine tourism in the short-term? Do you think domestic tourism will keep on growing to life up the nation’s tourism industry as a whole?

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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DEPDev Secretary Says Philippines Likely To Hit Low-End Of 2025 GDP Growth Target

October 26, 2025October 17, 2025carlocarrasco

Recently the Secretary of the Department of Economy, Planning, and Development (DEPDev) expressed confidence that the economy of the Philippines will hit the low-end target of GDP growth for 2025, according to a BusinessWorld news report.

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

Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan said he is confident Philippine economic growth will hit the lower end of the target this year, despite a slowdown in the third quarter.

“The growth that we are expecting for 2025 is now 5.5 to 6.5% The low-end of the range is still very much achievable,” he told reporters on the sidelines of an event on Oct. 16.

Economic managers will meet next week to assess whether revisions to this year’s growth outlook are needed, he added.

Budget Secretary and Development Budget Coordination Committee (DBCC) Chairperson Amenah F. Pangandaman on Wednesday told BusinessWorld that the gross domestic product (GDP) target for 2025 “remains attainable.”

Finance Secretary Ralph G. Recto earlier said flagged a slowdown in the third quarter and possibly until early 2026 as corruption probes curb public spending.

Aside from slower public spending, Mr. Balisacan said weather disruptions may have dampened economic activity in the July-September period.

“There may be a bit of a slowdown (in third quarter) because of these supply shocks that we have seen. There are so many typhoons that we have seen during the quarter, many days of work suspension. So economic activity is really affected,” he said.

Asked whether third quarter growth could fall below the 5.5% annual GDP growth in the second quarter, Mr. Balisacan said: “Hopefully not.”

Let me end this post by asking you readers: What is your reaction to this development? Would you be satisfied to see the economy of the Philippines grow by 5.5% this year? Do you think there will still be a lot of challenges and problems in the 4^th quarter that could somehow bring economic growth below 5.5% for the entire 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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