Marcos signs Trabaho Para sa Bayan Act into law

DOLE awards tools and equipment to manpower training center in Las Piñas City

Recently in the city of Las Piñas, the Department of Labor and Employment (DOLE) awarded tools and equipment to the Las Piñas Manpower Training Center (LPCMTC) which will boost the existing livelihood training programs for the locals, according to a Manila Bulletin news report. The awarding was done in the presence of Vice Mayor April Aguilar-Nery.

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

The Department of Labor and Employment (DOLE) awarded tools and equipment to the Las Piñas Manpower Training Center (LPCMTC) to boost the skills and livelihood training programs being offered to Las Piñeros.

According to Vice-Mayor April Aguilar, the awarding ceremony of tools and equipment was held on May 10 at the LPCMTC quadrangle located in Barangay Talon Dos.

DOLE distributed equipment for various livelihood programs of the training center such as cookery, bread and pastry production, hairdressing, automotive, and air conditioning servicing.

Aguilar thanked DOLE headed by Secretary Bienvenido Laguesma,  for the equipment which will help boost the city government’s effort to promote sustainable livelihood and address the high unemployment rate in the country.

She said the manpower training center being managed by the local government has been offering various technical and vocational courses to residents of the city.

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? Do you think the quality of skills and livelihood training in the city will improve significantly now that the LPCMTC has new equipment?

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 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

“Hired on the Spot” employment program in effect in Las Piñas City

In the City of Las Piñas, a special program was recently launched to provide employment to local workers who were displaced by the pandemic, according to a Manila Bulletin news report.

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

The Las Piñas Public Employment Service Office (PESO) conducted house interviews as part of its weekly employment facilitation program called “Hired on the Spot” on Monday, Nov. 14.

Mayor Imelda Aguilar said the “Hired on the Spot” program is being conducted by PESO, in coordination with the Department of Labor and Employment (DOLE), with the goal of ensuring prompt and efficient delivery of employment facilitation services.

Aguilar said the program also aims to provide employment to workers displaced by the pandemic, particularly to Las Piñas residents.

She said over 150 applicants send their resume daily to PESO and around 40 percent of the applicants get hired on the spot.

The mayor said that in addition to PESO house interviews, booths are also set-up in the city’s different barangays and partner establishments.

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 if the number of members of your local community remained unemployed? Do you consider unemployment a major problem in your city 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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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 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

Philippine economy grew 7.6% in the 3rd quarter

You may not feel it but the economy of the Philippines grew by 7.6% in the 3rd quarter this year according to the recent announcement published by the Philippine News Agency (PNA). This is very encouraging news following the recent report of the falling unemployment in the country. Indeed, the nation continues to rise after suffering from the COVID-19 crisis’ downturn.

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

The Philippine economy grew at a faster rate in the third quarter of the year at 7.6 percent, higher than the revised gross domestic product (GDP) growth in the second quarter at 7.5 percent, the Philippine Statistics Authority (PSA) reported Thursday.

In a press conference, PSA Undersecretary Dennis Mapa said this is the sixth consecutive quarter that the economy recorded expansion.

The country’s GDP growth from July to September 2022 is also higher than the 7-percent increase in the same period in 2021.

The third quarter’s GDP exceeded the median analyst forecast of 6.3 percent,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.

Balisacan said the average GDP growth for the first nine months of the year stood at 7.7 percent.

“With this, we are on track to achieving the government’s growth target of 6.5 to 7.5 percent for 2022. Given the latest GDP outturn, our economy needs to grow by 3.3 to 6.9 percent in the fourth quarter,” he said.

The PSA reported that all major industries improved their performance in the third quarter of 2022 compared to the same period last year, with agriculture, forestry and fishing growing by 2.2 percent; industry, rose to 5.8 percent; and services, up by 9.1 percent.

Services contributed 5.8 percentage points to the 7.6 percent GDP growth in the third quarter, followed by industry which shared 1.6 percentage points, and agriculture, forestry and fishing at 0.2 percentage points.

By industry, wholesale and retail trade, repair of motor vehicles and motorcycles contributed 1.9 percentage points to the GDP growth in July to September period, followed by financial and insurance services at 0.77 percentage points and construction at 0.76 percentage points.

Compared to last year, the sector of accommodation and food service activities expanded by 40.6 percent, which is the largest across industries. Transportation and storage also improved by 24.3 percent and construction increased by 12.2 percent.

This economic performance largely benefitted from the further easing of mobility, including the resumption of face-to-face classes, which boosted consumption among Filipinos,” Balisacan said.

The NEDA chief added that the relaxation of borders and simplifying travel protocols supported the recovery and growth of local tourism and other sectors.

In terms of spending, household final consumption expenditure is the largest contributor to GDP in the previous quarter at 5.9 percentage points, exceeding the share of construction at 1.5 percent percentage points, durable equipment at 0.7 percentage points, and government final consumption expenditure at 0.1 percentage points.

In relation to the above news, President Ferdinand “Bongbong” Marcos, Jr. recently visited Cambodia and there he invited the nation’s business leaders to invest in the Philippines. Posted below is an excerpt from the report of GMA Network news. Some parts in boldface…

“We would like to invite at the very least, for you, to have a look at the opportunities that are available. And finally I suppose at some point, since we are not so far away, to come and we will explain to you exactly what we have done and why we have done it and where we have arrived in that process of transforming the economy,” Marcos told business leaders during a roundtable meeting.

“I do not talk about recovery of the economy, I talk about transformation of the economy because the new economy is going to be different from everything that we did in 2019. And so this is what we are looking forward to and I hope to see you all in the Philippines soon,” he added.

Let me end this piece by asking you readers: What is your reaction to this recent announcement about the state of the Philippine economy? Do you look forward to a more prosperous year in 2023? Are you planning to open a new business soon? If you are an investor, are you confident about investing in the stock market and in companies?

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 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

More than 400 Muntinlupa residents employed under TUPAD program

In the progressive City of Muntinlupa, more than four hundred local residents have gained temporary employment thanks to the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program of the City Government, 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…

More than 400 Muntinlupa residents were given the chance to work for two weeks under the government’s Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD).

This was made possible through the initiative of Muntinlupa Rep. Jaime Fresnedi and the Department of Labor and Employment (DOLE), which implements TUPAD.

A total of 451 beneficiaries recently underwent TUPAD orientation at the Muntinlupa Sports Complex in Barangay Tunasan that was attended by Mayor Ruffy Biazon and City Administrator Allan Cachuela, who gave messages for the workers.

Each TUPAD beneficiary will work for half a day for 14 days and will earn P570 per day or a total of P7,980, courtesy of Rep. Fresnedi’s social assistance fund.

The TUPAD program provides emergency employment opportunities for displaced or disadvantaged workers for at least 10 but not more than 30 days.

The above report ended stating that the work under TUPAD may cover social community projects such as repair or maintenance of public facilities, rehabilitation of public roads and bridges, or agro-forestry activities such as tree planting and reforestation

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this new development?

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/.

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: Joint Economic Commission (JEC) established by Israel and the Philippines

Trade between Israel and the Philippines could improve and help develop each other economically in the years to come as the two nations strengthened their ties further by establishing the Joint Economic Commission (JEC), according to a recent report by BusinessWorld.

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

THE Philippines and Israel said they formed a Joint Economic Commission (JEC) that will explore pathways to improving trade.

In a statement on Thursday, the Department of Trade and Industry (DTI) said Trade Secretary Ramon M. Lopez signed a memorandum of understanding (MoU) with Israel Economy and Industry Minister Orna Barbivai in Jerusalem on June 7 that created the JEC.

The MoU seeks the establishment of a bilateral consultative mechanism that will develop and strengthen trade, enhance investments, and advance economic ties between the Philippines and Israel,” the DTI said.

“In establishing a JEC, the two countries agree to exchange information on economic issues, identify and implement cooperative projects, organize consultations, missions, and official visits and enhance cooperation and linkages with their respective private sector,” it added.

The DTI said the MoU will seek to explore industries where the two countries can collaborate with a view towards diversifying trade and investments.

He added that priority sectors for promotion include agribusiness/agriculture production, energy efficiency technologies and renewable energy, infrastructure and public-private partnership (PPP) projects in infrastructure, real estate development, logistics, artificial intelligence, information technology and business process management (IT-BPM) including shared services, electronics manufacturing, and digital infrastructure.

Mr. Lopez told reporters via Viber that the initial investments from the investment promotion and protection agreement (IPPA) between the Philippines and Israel could bring around $150 million in investment in 2022.

“Early harvest could be around $150 million this year,” Mr. Lopez said.

Also signed on June 7, the IPPA provides the framework for a closer investment relationship between Israel and Philippines. It also specifies investment protection elements such as national treatment, most favored nation treatment, free transfers, rules-based expropriation and compensation, and investor-state dispute settlement.

The DTI also recently signed an MoU seeking to strengthen cooperation with the Israel Innovation Authority.

This newest development is undoubtedly critical as both the Philippines and Israel share the same goal of recovering from the damage of the COVID-19 crisis and emerging stronger economically and socially. The JEC between the two nations is something we must be thankful to God for.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. 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!

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 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/

I Love Israel: Philippines sends off initial batch of hotel workers to Israel

Over sixty Filipino hotel workers have departed for Israel in relation to the opening of its hospitality sector to foreign workers, according to a report by the Philippine News Agency (PNA) dated May 31, 2022. That’s not all. There will be hundreds more who will be deployed there in accordance to the agreements between Israel and the Philippines.

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

The Philippine government is set to send off 61 Filipino hotel workers to Israel, the first deployment of its kind since the latter opened its hospitality sector to foreign workers.

Israel Ambassador to the Philippines Ilan Fluss said a total of 500 are set to depart Manila, with the first 61 leaving on June 1, 2022.

Until now the hotel industry was closed, this is the first time that the hotel industry was able to invite foreign labor so for Israel this is very important For the Philippines, I believe it’s also important because until now the only Filipinos who were allowed to work in Israel are caregivers,” Fluss said during a send-off ceremony at the Philippine Overseas Employment Administration (POEA) in Mandaluyong City on Tuesday.

“We’re just exiting the pandemic, I believe there is room for growth for the tourism industry so we’re starting with the 61 tomorrow up to 500,” he added.

Fluss assured that overseas Filipino workers would enjoy the same treatment as domestic employees in Israel.

The rights of the employees are very clear and there is no difference in this aspect between foreign workers and Israeli workers,” he said.

Asked if there are other industries interested in hiring Filipinos, Fluss said none yet at this point.

Department of Migrant Workers Secretary Abdullah D. Mama-o, meanwhile, described the latest deployment as proof that Filipinos are “quality workers”.

I’m glad that Israel recognized the competence of our Filipino workers. The first batch that we are sending will serve also as an example of the workers that we have in the hotel industry,” he said.

To make things clear, both Israel and the Philippines are gradually emerging from the economic and social damages of the COVID-19 crisis. Businesses that are connected to tourism or travel such as hotels, restaurants and retailers require quality workers who have proven to be dedicated and hard working. As such, the news about sending off hundreds of Filipino hotel workers to Israel to help them revive their industry is very pleasing and encouraging. So far, 2022 is looking like the year of big revival of international tourism and the ties between the Philippines and Israel continue to prosper! Truly this is something we should be thankful to the Lord for.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. 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!

In ending this I Love Israel piece, posted below are Israel-related videos plus Philippine news 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 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/

COVID-19 Crisis: Metro Manila mayors to recommend adjustment to Alert Level 1 status starting March 1, 2022

Thanks to the Lord who listens to the prayers of the faithful, the daily count of new COVID-19 cases kept falling down nationwide for the past few weeks and there are signs of stronger economic activities along the way. It should be noted that more people from overseas arrived in the country.

With regards to Metro Manila or the National Capital Region (NCR), the mayors of the many cities of the metropolis came to an agreement to recommend to the higher authorities the shift of control from the current Alert Level 2 to Alert Level 1 which should take effect on March 1, 2022, according to a GMA News report. Before the news broke out, Muntinlupa City mayor Jaime Fresnedi confirmed he voted for the shift to Alert Level 1.

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

Mayors in the National Capital Region (NCR) have agreed to recommend the de-escalation of the region to Alert Level 1 from Alert Level 2 starting March 1, 2022, the head of the Metro Manila Council said on Wednesday.

“Downgrade to Alert Level 1 starting March 1,” Parañaque City Mayor Edwin Olivarez told GMA News Online in a text message when asked about the recommendation of the council following their meeting Tuesday night.

Under Alert Level 1, intrazonal and interzonal travel shall be allowed without regard to age and comorbidities. All establishments, persons, or activities, are allowed to operate, work, or be undertaken at full on-site or venue/seating capacity provided it is consistent with minimum public health standards.

Interviewed on Super Radyo dzBB on Tuesday, Metropolitan Manila Development Authority (MMDA) officer-in-charge and general manager Romando Artes said the local government units (LGUs) in the NCR are ready to shift to Alert Level 1.

Artes said the NCR has been successful in implementing COVID-19 response programs.

Also on Tuesday, independent monitoring group OCTA Research said the positivity rate in the NCR has decreased to 4.9%, lower than the recommended 5% of the World Health Organization.

According to OCTA, this is the first time the positivity rate in the NCR decreased to less than 5% since December 26, 2021 prior to the COVID-19 surge caused by the more transmissible Omicron variant.

Once it takes effect, Alert Level 1 will pave the way for businesses to operate better which will translate into new job openings that the unemployed badly need. Businesses that cater to customers with their physical presence involved should be allowed to serve them in higher numbers than before. It could also mean local cinemas should be allowed to allocated even more seats for moviegoers. Families should be allowed to bring their children to more places outside their homes as well. Churches should be allowed to accommodate even more people to worship the Lord on Sundays. Along the way, COVID-19 vaccination operations continue to happen and as of this writing, almost ten million people here in the Philippines have received their respective booster shots.

When it comes to the unvaccinated who remain restricted until now, Alert Level 1 means liberty for them.  In the city of Parañaque, unvaccinated people are still restricted because there is no lifting of restrictions within the city even under Alert Level 2. Parañaque is one of four local government units (LGUs) where the unvaccinated remained restricted under Alert Level 2 and they are the only city in South Metro Manila to be so.

While Alert Level 1 is liberating, I urge all the people in the Philippines reading this to keep following health protocols. If you are still unvaccinated, I encourage you to get vaccinated for your health, your safety and for the good of the country. From this point on, we will see how the Inter-Agency Task Force (IATF) will respond to the Metro Manila Council’s (MMC) recommendation. Literally, the ball is now in the IATF’s side of the court.

Let me end this piece by asking you readers: What do you think about this recent news report? Do you believe that March 1, 2022 is the right time to start the implementation of Alert Level 1 all over Metro Manila? Do you believe that there are enough people who got vaccinated or boosted nationwide? Do you believe that the highly infectious Omicron variant is no longer a major problem?

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/

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

Muntinlupa City extends Business Permit Renewal anew to March 31, 2022 without penalties

The City Government of Muntinlupa has announced another extension on the business permit renewal period up to March 31, 2022.

Muntinlupa Business Permits and Licensing Office has posted on its Facebook page regarding the extension of the assessment and payment of Business Permit Renewal.

“Per City Ordinance No. 2022-318, the deadline for both the assessment and payment of Business Permit Renewal is extended up to March 31, 2022. Renew your business permits now to avoid penalties,” BPLO noted.

Meanwhile, all transactions are now back at City Hall. Previously, taxpayers proceed to Muntinlupa Business Permit Renewal Hub located at Muntinlupa Sports Center, Brgy. Tunasan.

The extension has been approved by the City Council and Mayor Jaime Fresnedi following the request of BPLO. The licensing office noted the economic impact of COVID-19 pandemic to the taxpayers.

BPLO added that the initiative aims to help taxpayers who “may not be able to immediately comply with the mandatory documents which are the basis for the prudent and correct imposable taxes” due to the pandemic.

The extension covers payment of all local taxes, fees and other charges without penalty.

Further, business owners may renew their business permit online via the Business E-payment System (BESt) which can be accessed thru Muntinlupa City official website (www.muntinlupacity.gov.ph).

Muntinlupa BEST is an online platform which allows locators to accomplish business permit applications and transactions through any internet-enabled device. Taxpayers can accomplish transactions including application for New Business Permit, Renewal of Business Permit, Application Status Inquiry, Billing and Payment, and Payment History.

Another option for business locators is the Business Permit Application Self-Service (BPASS) kiosks which are located across the city’s major malls.

Business permits may also be delivered by the city government’s official courier service partner, Keridelivery Inc, to the doorstep of business owners.

Mayor Fresnedi thanked the taxpayers for their continued support in doing their part for the recovery of the city and the local economy.

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The above information was sourced from an official press release. Some parts were changed for this website.

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@twitter.com as well as on Tumblr at https://carlocarrasco.tumblr.com/

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

COVID-19 Crisis: Philippine economy expected to grow 6% to 7% this year

Even though there are lots of news reports and social media updates about the current COVID-19 surge here in the Philippines, there is still the expectation that the national economy will grow 6% to 7% this year, according to an article published by the Philippine News Agency (PNA).

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

The Philippine economy is expected to return to its 6 to 7-percent growth trajectory in 2022 after nearly two years of grappling with the pandemic despite the threat of the Omicron variant, according to the investment banking arm of the Metrobank Group.

First Metro Investment Corporation (FMIC) said this year’s economic growth will be driven by sustained domestic demand, easing inflation, election expenditures, and accelerated government spending on infrastructure projects.

“Notwithstanding the ongoing pandemic, and Omicron sparking the third wave of infections, we are still optimistic that Philippine growth will further accelerate and get back on its trajectory of 6-7 percent in 2022,” FMIC president Jose Patricio Dumlao said in a virtual briefing Tuesday.

Dumlao said the economy registered a 4.9-percent growth in the first three quarters of 2021 and the growth momentum likely spilled over in the fourth quarter given further economic reopening and easing mobility restrictions.

He added business and consumer confidence are also cautiously positive given wider availability of vaccines and relaxation of lockdowns, quarantine measures, and mobility restrictions.

University of Asia and the Pacific (UA&P) economist Dr. Victor Abola said the 6 to 7 percent gross domestic product (GDP) projection this year will be led by the industry sector –both construction and manufacturing.

Abola said services will still be the lagging sector as the pandemic measures hit hotels and restaurants.

“The Philippine situation is that there is recovery but still on the way to reach the pre-pandemic levels,” he said.

The country’s GDP posted a -9.5 percent full-year growth rate in 2020 compared to its 5.9 percent pre-pandemic performance in 2019.

Abola said the business process outsourcing (BPO) is a major contributor to the resiliency of the economy amid the pandemic.

“And it’s not the same as usual call centers, etc. You can see there are new, emerging segments and that is what companies are focusing on,” he said, citing insurance, life sciences, healthcare, and data analytics, among others.

Aside from BPO revenues, FMIC chairman Francisco Sebastian said the overseas Filipino workers (OFW) remittances are boosting the economy.

It would be nice to see such economic expectations come true because the Philippines still has yet to recover the massive economic loss of 2020 (the first year of the pandemic). Apart from COVID-19 infections, there is also the factor of governance linked with declaring restrictions that can get in the way of economic recovery and make things harder for everyone. Do not forget the August 2021 sudden ECQ (enhanced community quarantine) declaration (additional reference here) and the ban on outdoor exercise within the national capital region that the Metro Manila Council (MMC) and the Metropolitan Manila Development Authority (MMDA) are responsible for. There was also the national government’s flip-flop on declaring quarantine statuses of September 2021. Think about all the economic damage caused by those three developments!

With the May 2022 national and local elections coming, we can only hope that those in government – especially the Metro Manila local government units – will set aside their egos and make decisions wisely. The nation’s economy cannot afford another massive lockdown as well!

With regards to the Omicron variant that was believed to be a factor behind the current COVID-19 surge around the country, the authorities should seriously consider acquiring a lot more Sputnik vaccines (for more on Sputnik vaccines effectiveness against Omicron variant, click here and here).

Let me end this piece by asking you readers: Do you think that the Philippine economy will grow 6% to 7% this year even though there is a COVID-19 surge of new infections happening? Do you believe that government officials will do better in making hard decisions related to the current surge?

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/