Philippines achieves 7.6% economic growth in 2022

The Philippines’ recovery from the downturn of the COVID-19 crisis continued strongly as it has been confirmed that the national economy expanded by 7.6% for the entire year of 2022 which includes a 7.2% 4th quarter economic growth, according to a news article by the Philippine News Agency (PNA). Take note that the Philippines is expected to grow between 6.5% and 7% in 2023 according to the national authorities while there are signs that the United States economy will fall into a recession this year. Regardless, the Philippines ended 2022 competitively in terms of economic expansion among its Asian neighbors.

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

The Philippine economy expanded by 7.2 percent in the last quarter of 2022, bringing full-year growth to 7.6 percent, driven by increased economic activity mainly from pent-up demand as it fully reopened amid elevated inflation rate.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said among the major emerging economies in the region that have released their fourth-quarter gross domestic product (GDP) growth, the Philippines grew the fastest, followed by Vietnam at 5.9 percent and China at 2.9 percent.   

Our improved Covid-19 (coronavirus disease 2019) risk management and the easing of mobility restrictions have created a positive economic outlook, boosting economic activity and creating more jobs despite external headwinds,” he said in a briefing on Thursday. 

Balisacan said measures being implemented by the government to further buoy the economy’s recovery are working.

Our strong economic growth performance for 2022 proves that our calibrated policies and strategies have helped put us on the path to recovery and on track to achieving our aspiration for an inclusive, prosperous, and resilient society by 2028,” he said.

Balisacan said pent-up demand drove growth in the fourth quarter as the economy was fully reopened during the period, with household consumption accounting for around three-fourths of domestic output, and investments contributing around a fifth.

The improvements in labor market conditions, increased tourism, revenge and holiday spending, and resumption of face-to-face classes supported growth in the quarter, further reflecting a solid rebound in consumer and investor confidence in the economy,” he said.

Balisacan said had it not been for the elevated inflation rate, which rose to its highest since November 2008 last December when it accelerated to 8.1 percent, “growth could have been higher by another perhaps 1 to 2 percentage points.”

“It shows how overall demand is sensitive to inflation,” he added.

In terms of the volume of economic activities, Balisacan said domestic growth has recovered for many sectors, except for others such as tourism.

“(But) in so far as per capital income… we haven’t fully recovered yet,” he said.

Balisacan said the government is firm on ensuring that quality jobs will be available to Filipinos to lessen their need to work abroad.

“Inclusive growth across the archipelago will be our vehicle for reducing poverty incidence from 18 percent of the population in 2021 to a single-digit level by 2028,” he said.

National Statistician Dennis Mapa said 2022 full year GDP growth of 7.6 percent exceeded the government’s 6.5 to 7.5 percent growth assumption for the year and the highest after the 8.8 percent in 1976.

Mapa said the fourth-quarter growth, slower than the 7.6 percent in the previous quarter, was driven by the wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities and retail estate and ownership of dwellings boosted domestic growth.

He said domestic demand remained strong, with the household final consumption expenditure (HFCE) rising by 2.1 percent quarter-on-quarter, led by the restaurants and hotels, food and non-alcoholic beverages, and miscellaneous goods and services. Year-on-year expansion of HFCE stood at 7 percent.

Among the major economic industries, Mapa said agriculture, forestry, and fishing contracted by 1.7 percent because of the lower output of sugarcane, palay (rice), and poultry and egg production.

Meanwhile, Balisacan said the government is doing pro-active assessment of the current situation to address the elevated inflation rate in the country, which is expected to go back to within the government’s 2 to 4 percent target band by the second half of this year.

He said the government continues to allow the importation of several food items to boost domestic supply, adding that not doing so will hurt both the consumers and domestic growth.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the economy of the Philippine economy will grow between 6.5% to 7% this year? Do you think that more foreign tourists coming into the country will be able to help the nation achieve its economic growth targets this year? Apart from what was already mentioned, what do you think the national government should do to combat inflation? Do you think that the lower income tax for middle income earners will make a positive contribution to economic growth?

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/.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Philippines Finance Secretary Diokno says the national economy is resilient enough to face post-pandemic world

Recently in a high-level economic meeting in Germany, Philippines Finance Secretary Benjamin Diokno declared that the national economy is resilient enough for the post-pandemic world and that the national government has been making adjustments, according to a news article published by the Philippine News Agency (PNA).

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

Finance Secretary Benjamin Diokno on Monday told foreign investors and business leaders that the Philippine economy is resilient enough and that the government is doing its best to address post-pandemic challenges.

Diokno made the remarks during the Philippine economic briefing attended by the economic managers in Frankfurt, Germany that was streamed through various government agency Facebook pages.

The Finance chief noted that inflation is also a concern in the Philippines just like in other countries, but measures are being undertaken by the government to address the issue, such as managing prices by ensuring adequate supplies of agricultural products, and boosting the agriculture sector’s capacity and productivity to help address the rising commodity prices, among others.

“We also are continuing the importation of necessary commodities to ease inflation,” he said.

The government has allowed the continued importation of rice, sugar, and meat, which are among the primary factor for the elevated food prices due to supply issues.

Relatively, Diokno assured investors that the government has put in place a fiscal consolidation program to address the uptick in government liabilities, due in part to the increased borrowing to finance pandemic-related programs.

He identified three factors that will support the government’s fiscal consolidation and one of this is the fact that “only a small fraction of our outstanding debt is exposed to interest rate resetting.”

This, as bulk of the government liabilities are sourced from domestic fund sources, with around 75 percent of the borrowing program allocated to the domestic market.

“We already have anticipated the tightening monetary policy conditions when we formulated the interest rate payments in the 2023 budget,” Diokno said.

He added that “government securities market is dominated by local players that are bank-centric and homogeneous in investment governance.”

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the economy of the Philippines is resilient enough for the post-pandemic age even as there are concerns about high inflation and economic slowdown around the world? Do you believe that the national government has what it takes to make key adjustments to unforeseen developments that could happen anytime? Are you convinced that foreign investors as well as foreign tourists will come into the Philippines in great numbers over the next eighteen months? How is your local government doing when it comes to economic developments like livelihood, jobs training and other related activities?

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/.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

President Marcos mentions economic growth of 7% for the Philippines this year

Not so long after Finance Secretary Benjamin Diokno stated that the Philippine economy is expected to grow by around 6.5% this year, President Ferdinand “Bongbong” Marcos stated a figure of 7% economic growth for 2023, according to a news article by the Philippine News Agency (PNA). GMA Network and the Philippine Daily Inquirer each had similar news stories.

To put things in perspective, posted below is the excerpt from the PNA article. Some parts in boldface…

During the Country Strategy Dialogue at the World Economic Forum (WEF) in Davos, Switzerland, Marcos presented the current state of the Philippine economy and the opportunities that are expected to be unlocked.

Marcos, in his opening remarks, cited that while the International Monetary Fund’s (IMF) forecast for the 2023 global economic growth is only 2.7 percent, the Philippines projects that its economy would grow by at least 7 percent this year.

The IMF’s latest projection is slower than the 3.2 percent posted last year and shows a significant decrease from the 6 percent recorded in 2021.

“Our strong macroeconomic fundamentals, fiscal discipline, and structural reforms instituted over the years have enabled us to withstand the negative shocks caused by the pandemic and succeeding economic downturns and map a route toward a strong recovery,” he said.

Marcos said the Philippines remains focused on sustaining the country’s economic recovery, as well as promoting a local environment that would help businesses maximize their competitiveness and facilitate their entry into the global market.

He added that the Philippines’ development plan puts together coherent strategic measures to address the current energy and food crises, allowing the country to hasten its economic and social recovery toward inclusive and resilient development.

Addressing challenges – In his speech, Marcos also emphasized the need for the world economies to implement sufficient welfare measures to cushion the impact of elevated inflationary pressures, especially on the most affected and vulnerable sectors.

“We have seen inflation accelerating globally in recent months. While protectionist policies may be appealing in the short term, there will ultimately be no winners,” he said.

“We support the call for all governments to unwind any trade restrictions and reinforce our commitment to the World Trade Organization (WTO) reform.”

Marcos also renewed the Philippines’ support for the timely and effective delivery of pragmatic outcomes to address the current geopolitical risks, adding that economies should try to find a common ground to settle critical global issues.

He likewise emphasized the importance of economic and technical cooperation to assist the development of smaller economies and enable their participation, including the small businesses and economic segments with untapped potential, in the global economy.

Marcos said it is also vital to address the current social vulnerabilities, noting that education, skills development, and lifelong learning would help enhance the employability of workers.

Government interventions and public-private partnerships (PPPs), he said, must be strengthened to improve access to employment opportunities, adding that health systems and social protection must also be enhanced to abate and mitigate present and future risks.

Digitalization – Marcos also acknowledged the need to pursue heightened collaboration to realize economic and social transformation.

He believed that his bid for digital transformation is a “key driver for long-term economic growth.”

“The government also recognizes the importance of digitalization as a key driver for long-term economic growth and as a tool for economic recovery,” Marcos said, adding that he would put a premium on the participation of micro, small and medium enterprises (MSMEs) in the digital economy.

More details are available for reading in the PNA’s news article.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you believe that the Philippines can achieve 7% economic growth 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

Philippine government sees economy growing around 6.5% for 2023

Even though HSBC and the World Bank revealed their own 2023 economic growth forecasts for the Philippines to be below 6%, the national government still sees the economy growing around 6.5% this year, according to a recent Manila Bulletin news report.

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

The Philippine government expects a strong full-year gross domestic product (GDP) growth for 2022, most likely much faster than its growth target of 6.5 to 7.5 percent, Department of Finance (DOF) Secretary Benjamin Diokno said here on Jan. 16 (Switzerland time).

Diokno said this during a Monday luncheon hosted for President Ferdinand “Bongbong” Marcos Jr. and Philippine chief executive officers (CEOs) in Davos, Switzerland.

In addition, Diokno said the Philippine economy is seen to “grow by around 6.5 percent this year” due to the expected slowdown of the global economy.

“And that’s still one of the highest, if not the highest, growth projection in the Asia-Pacific Region,” he said.

According to Diokno, the country’s bustling manufacturing sector, record-low unemployment, and stable and resilient banking system can alleviate buffers against external headwinds, all indicating a resilient economy.

Further, opening economic sectors to foreign equity, improving the ease of doing business, and allowing modern transformative industries to take root and grow will sustain the economy.

At the same time, the Finance chief said the Marcos government has created a more competitive and enabling environment through public-private partnership (PPP) to expand further the Build, Better, More infrastructure agenda of the administration.

Diokno said this would further boost investments on top of the government’s goal to spend at least five to six percent of GDP on infrastructure, stressing all these form the backbone for the rapid and sustained growth of the Philippines.

But because of the current challenges, he said the Philippines is taking the first steps toward launching the Maharlika Investment Fund, the country’s first-ever sovereign wealth fund that will support the goals set by the administration in the Philippine Development Plan 2023-2028.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the Philippines’ economic fundamentals are strong enough to keep the economy growing around 6.5% this year? Do you think that the tourism industry alone will be a major driving force of economic growth and earning foreign currency? Apart from the announced Maharlika Investment Fund (sovereign wealth fund) new economic initiatives do you want to see from President Ferdinand “Bongbong” Marcos, Jr.?

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/.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

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

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/.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

I Love Israel: Israel attracted 2.675 million tourist entries generating 13.5 billion shekels in tourism revenue for 2022

The tourism numbers for the State of Israel covering the calendar year of 2022 have been finalized. Israel’s Ministry of Tourism confirmed that the state attracted a total of 2.675 million tourist entries which generated tourism revenue worth 13.5 billion shekels (US$3.8 billion). The Jerusalem Post confirmed the tourist entries figure as well. Take note that Israel opened its borders to international travelers in March 2022 and very clearly their tourism industry is bouncing back strongly which is good for their economy. The above reported figures are the best since 2019 (the record year of tourism in Israel).

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

In 2022, 2.675 million tourist entries were recorded (as opposed to only 397,000 in 2021 and 831,000 in 2020). The skies in Israel were opened officially to incoming tourism in March 2022 and only three months later, in May, without any restrictions. Incoming tourism to Israel in 2022 is about 41% lower than 2019, a record year for incoming tourism. Revenue from incoming tourism stands at about NIS 13.5 billion (not including cost of flights) as opposed to about NIS 23 billion in 2019.

The Ministry of Tourism notes that there are a number of factors that have affected tourist entries in this recovery year: tourists plan their trips far in advance, and Israel opened for incoming tourism later than similar destinations in the area and Europe. Therefore, Israel’s recovery rate from the crisis is slightly lower than the global average of about 36% decrease in the volume of incoming tourism relative to 2019.

However, a renewed growth in tourism can be seen. In December 2022, 266,200 tourist entries were recorded (compared with 20,500 in December 2021 and 358,300 in December 2019)  – a decrease of about 25% (only) in relation to December 2019.

Very clearly, Israel continues to rise with its tourism industry as their nation keeps on persevering with recovering from the depression that came with the COVID-19 crisis a few years back. Considering what was achieved in 2022 in terms of attracting visitors from overseas, further growth this year should not be surprising. There are many millions of people around the world who are eager to visit Israel and spend time at the many holy sites in relation to their faith. For insight about the recovery and growth of tourism in Israel, watch the videos below…

Be thankful to God that the State of Israel is recovering strongly from the COVID-19 crisis. Thank Him for the big rebound of tourism Israel is having right now. Be thankful to Him as many millions of people around the world who believe and follow Lord Jesus will have opportunities to visit the Holy Land to deepen their faith in Him even more.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel, the land that God designated to the Jewish people (read Genesis 35:10-12)!

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment.

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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

COVID-19 Crisis: President Marcos says the economy of the Philippines will go beyond pre-pandemic level

Things are looking bleak economically. Recently the Philippine Peso reached another record low to the United States Dollar on the foreign exchange market. The local stock market lost a lot of points as well. Regardless, President Ferdinand “Bongbong” Marcos stated that the economy of the Philippines will not just recover but grow higher than what was achieved before the COVID-19 crisis affected everyone, according to a Philippine News Agency (PNA) article.

To put things in perspective, posted below is an excerpt from the PNA article Some parts in boldface…

The Philippine economy will go beyond its pre-pandemic growth, President Ferdinand Marcos Jr. said Friday (Manila time), as he confidently talked about progress amid the coronavirus disease 2019 (Covid-19) pandemic.

During his meeting with members of Asia Society at The Carlyle Hotel in New York City, Marcos said his administration has laid out measures that will help reinvigorate the economy.

We don’t want to just catch up. We want to go beyond that. We have no interest in going back to pre-pandemic levels. What we are interested in is to flourish further and to position the Philippines in such a way that we can take full advantage of the new economies and the new industries that have come to light,” Marcos said in his speech.

Sustained cooperation and collaboration with the private sector and other governments would lead to the realization of his administration’s bid to make the Philippines a new and transformed country, the President said.

He said the Philippines is a “viable and smart” investment destination, given its macroeconomic fundamentals, enabling policies, and human capital.

“They recognize the Philippines, our country, for its business-friendly policies, a very competent workforce, and a network of economic zones,” he said. “These are interesting times and there are many things to accomplish. The far-reaching ill-effects of the pandemic compel us to reinvigorate our economies in a spirit of sustained cooperation and collaboration.”

Marcos noted that the Philippine economy expanded by 5.7 percent in 2021 and 7.8 percent in the first half of 2021 because of government spending, household consumption, and investments reinforced by consumer and business confidence.

He also cited “investor-friendly” laws that seek to “leverage game-changing reforms.”

Marcos told the group about the “young, educated, hardworking, and English-speaking” Philippine workforce that is globally competitive.

He expressed hope to get more investments for his administration’s priority sectors, which include agriculture; nuclear energy; health systems; information technology and business process management; digital connectivity; and manufacturing, including the critical sectors of semiconductors, green metals, and electric vehicles.

We must use public and private resources effectively to encourage the expansion of trade, investment, technology transfers, all to accelerate our development,” Marcos said.

Despite the challenges caused by the Covid-19 pandemic and the global economic crisis, Marcos said the Philippines remains on track to “graduate to upper middle-income-country status” by 2023 and become a “high-income country” by 2040.

With steady investments in infrastructure, agriculture, food security, public health, education, and other social services, we seek to become a high-income country, with zero extreme poverty by the year 2040,” he said.

“Certainly, the world continues to be faced by enormous challenges, but I am confident in the future because I have 110 million reasons for being so. Such is my faith in the Filipino people and the relationship we hold with the United States and our other allies and partners and friends,” Marcos added.

Asia Society is a nonpartisan, nonprofit organization that works to build bridges of understanding between the East and West.

Let me end this by asking you readers: What is your reaction to this latest development? Are you eager to see the socio-economic plans of the Marcos administration to be implemented as soon as possible so that the national economy will be reinvigorated? Do you think that the pandemic  may have opened up new opportunities for business innovations and e-commerce to transpire nationwide?

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 athttps://www.instagram.com/authorcarlocarrasco/.

Muntinlupa City declared the Most Resilient among all Highly Urbanized Cities

The progressive City of Muntinlupa continued to make waves around the nation as the Department of Trade and Industry (DTI) formally recognized it for achieving 1st place in the category of resiliency among all the Highly Urbanized Cities (HUCs) of the nation based on the results of the 2021 Cities and Municipalities Competitiveness Index (CMCI), the Manila Bulletin reported. The plaque of recognition was received by the City Government.

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

The Department of Trade and Industry (DTI) awarded the Muntinlupa city government a plaque of recognition on Wednesday, June 29, for ranking No. 1 in resiliency among all highly-urbanized cities (HUCs) in the country under the 2021 Cities and Municipalities Competitiveness Index (CMCI).

According to the CMCI website, “local competitiveness is how a city or municipality knows its resources and how it uses these to improve its standard of living.

Outgoing Mayor and congressman-elect Jaime Fresnedi received the plaque of recognition from DTI Competitiveness Bureau Director Lilian Salonga.

Muntinlupa topped the resilience pillar of CMCI for two consecutive years. The resiliency pillar ranking is based on annual disaster drill, budget for disaster risk reduction and management plan, disaster risk reduction plan, emergency infrastructure, employed population, early warning system, local risk assessments, land use plan, sanitary system and utilities.

Also joining the program were City Administrator Allan Cachuela, Business Permits and Licensing Office executives led by Eli Hilapo, City Planning and Development Office acting chief Alvin Veron, International Relations Officer James Arriola, National Quality and Competitiveness Division chief Ma. Sheryl Santos, and DTI-NCRO Area 2 Division Chief Rowena D.B. San Jose.

The DTI, through the National Competitiveness Council, conducts the annual CMCI, which ranks local government units in the country based on four pillars: economic dynamism, government efficiency, infrastructure, and resiliency.

In the 2021 rankings for highly-urbanized cities in the country, defined as LGUs with at least 200,000 population and latest annual income of at least P50 million, Muntinlupa ranked first with a score of 20.68.

In the overall CMCI rankings for HUCs in the country, Muntinlupa placed fifth with a score of 48.

The above article ended stating that Muntinlupa ranked 5th in Infrastructure, 7th in Government Efficiency and 19th in Economic Dynamism based on the findings of the 2021 CMCI.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Are you happy with what Muntinlupa City achieved according to the 2021 CMCI results?

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. 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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