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Las Piñas City Mayor-elect April Aguilar oversees release of relief assistance to fire victims

June 9, 2025June 4, 2025carlocarrasco

Recently in the City of Las Piñas, incumbent Vice Mayor and Mayor-elect April Aguilar led the release of relief assistance to several fire victims in Barangay Almanza Uno, the City Government announced via social media.

To put things in perspective, posted below is an excerpt from the social media announcement of the City Government. Some parts in boldface…

The City Government of Las Piñas, led by Vice Mayor April Aguilar, continued its relief operations on Tuesday morning, June 3, for families affected by the fire that struck the Samatierra Compound in Almanza Uno.

Vice Mayor Aguilar personally returned to the evacuation center at the covered court of Almanza Uno to oversee the distribution of essential items to the 260 displaced individuals. Sleeping kits, hygiene kits, and food packs were provided to ensure the basic needs of evacuees are met while they remain in temporary shelters.

The City Social Welfare and Development Office, in coordination with the barangay and the Disaster Risk Reduction and Management Office, facilitated the orderly delivery of assistance. Modular tents were also set up to provide each family with privacy and comfort during their stay at the evacuation center.

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? When was the last time a huge fire hit your local community and left several families homeless?

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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Wanted carnapping suspect arrested in Parañaque City

June 8, 2025June 3, 2025carlocarrasco

Recently in the City of Parañaque, local police officers armed with a warrant of arrest successfully apprehended a man who has been wanted for carnapping, according to a Daily Tribune news report.

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

Parañaque City police operatives arrested a 47-year-old man identified as alias “Nori,” one of the city’s most wanted suspects, during an intensified anti-crime operation over the weekend.

“Nori” was ranked No. 9 on the Southern Police District’s list of most wanted persons for June 2025, and No. 3 at the station level.

The suspect, a motorcycle rider and resident of Parañaque City, was apprehended around 10:15 AM on 1 June along 1st Street, Ilaya Santo Niño, by virtue of a warrant of arrest for carnapping under Section 3 of Republic Act 10883.

The warrant was issued on 21 May 2025, by Branch 274 of the Regional Trial Court in Parañaque, with a recommended bail of P300,000.

The arrest was conducted by members of the Warrant and Subpoena Section of the Parañaque City Police Station, under the direct supervision of city police chief Col. Melvin R. Montante.

The suspect is now detained at the station’s custodial facility, pending the return of the warrant to the issuing court.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, do you consider carnapping a serious problem in the city? Do you know anyone in your local community who became a victim of carnapping?

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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Philippines manufacturing activity slowed down in May 2025

June 7, 2025June 3, 2025carlocarrasco

In what could be a possible sign of economic slowdown in the Philippines, manufacturing activity for the month of May this year slowed down as demand from foreign markets weakened, 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…

GROWTH in Philippine manufacturing activity slowed in May due to declining output and weaker demand from foreign markets amid global trade tensions.

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI), which measures the country’s monthly factory performance, settled at 50.1, slipping from 53 in April. This was the lowest index since the 49.4 contraction in March.

A PMI reading above 50 denotes better operating conditions month on month, while a reading below 50 shows the opposite.

“The promising growth observed at the beginning of the second quarter signaled a notable cooling in May,” Maryam Baluch, an economist at S&P Global Market Intelligence, said in a report on Monday. “While new orders continued to increase, they did so at a slower pace, overshadowed by contractions in other areas.”

S&P Global data on the Association of Southeast Asian Nations (ASEAN) showed that only the Philippines expanded in May, while Vietnam (49.8), Myanmar (47.6) and Indonesia (47.4) all declined.

In its report, S&P Global said output declined in May, the second contraction in the past three months.

“Overall, the downturn was marginal, but companies noted softer demand conditions weighed on production,” it said.

Despite continuing to signal a rise in new sales, the rate of expansion in new orders was slight and weaker than in April, it added. This was reflected in the softer rate of increase in input buying activity.

“The situation was further exacerbated by a deteriorating demand from foreign markets, with May witnessing a sharper drop in new export orders,” Ms. Baluch said. “As global trade tensions escalate, the outlook for overseas demand appears increasingly precarious,” US President Donald J. Trump paused his reciprocal tariffs in April for 90 days but continues to apply a 10% baseline tariff rate for most trading partners.

Ms. Baluch said the drop in production requirements was accompanied by a fresh decline in employment and the inventories of both purchases and finished goods.

S&P said employment numbers declined for the first time in four months.

The pace of job shedding was marginal, but the strongest in 11 months, which factories attributed to voluntary resignations and the nonreplacement of those roles.

S&P also cited the limited manpower for a renewed buildup of backlogs across Filipino producers.

“On a brighter note, inflationary pressures remain modest and historically subdued, which could play an important role in supporting demand moving forward,” she said.

However, cost burdens and output charges rose to the highest since January.

“The stability of price pressures may also provide a necessary buffer against the challenges posed by a cooldown in new orders and external market uncertainties,” she added.

S&P Global said manufacturers expect new orders to continue to rise, supported by confidence in the year-ahead outlook for production, but the degree of optimism was the third weakest in the series’ history.

Analysts also said trade tensions and softer demand weighing down the country’s manufacturing activity in May.

The anticipation for higher tariffs likely caused subdued exports, said Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc.

“The persistent trade tensions continue to weigh on global trade, causing exports to drop as higher tariffs may be imposed,” he said in a Viber message.

Philippine exports in the first four months rose 9.5% to $26.87 billion, according to the local statistics agency.

Mr. Erece said domestic demand slowed as the election-spending season ended. Stronger manufacturing activity is expected later this year, as local authorities continue trade talks with the US Trade Representative, he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines’ manufacturing sector will rebound this month?

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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What to watch on YouTube right now – Part 81

June 6, 2025June 2, 2025carlocarrasco

Welcome back my readers, YouTube viewers and all others who followed this series of articles focused on YouTube videos worth watching. Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you check out the following videos I found.

#1 Retrospective videos of Krull – I was a young boy when I saw Krull inside the cinema way back in 1983. It was an entertaining experience for me as the movie had a clever mix of fantasy, science fiction and even horror in its presentation. As many years passed by, I replayed Krull as an adult on cable TV and DVD, and it still remained entertaining. For those of you who intend to learn more about (or rediscover) Krull, I posted below some videos for your enjoyment. If you have not seen Krull yet, watch the movie entirely first.

#2 The George Foreman Grill remembered – The late George Foreman will be remembered for a long time. He made an impact on the world in professional boxing during his younger days and made a tremendous comeback by becoming the oldest heavyweight champion at age 45. Along the way, he became a preacher of God’s Word, led a local church and managed a youth center. Along the way, the late Foreman found tremendous success by endorsing a product that became the George Foreman Grill. To find out more about the Foreman and the popular grill, watch the video below.

#3 France’s President humiliated – With the way he is leading France as its President and the way he is helping Palestinian terrorists by antagonizing Israel, Emmanuel Macron is on the wrong side of history. He was back in the media spotlight as he got slapped by his wife recently. Watch and learn from the videos below.

#4 Ashleigh Burton reacts to Casper – It has been a little over thirty years since the live-action movie Casper was released in cinemas. As a young boy, I read some Casper comic books and saw some episodes of the cartoon shows on TV but I never was a fan of the character. I did not see the Casper film until it started showing on cable TV. Casper of 1995 does not interest me much but you should see how it draws reactions from Ashleigh Burton in the video below.

#5 PatmanQC examines Cruis’n USA – Cruis’n USA is one of those hit arcade games from the 1990s that I never got to play in Iocal arcades. Most of the time, I received information of Cruis’n USA primarily due to its port for Nintendo 64 (N64) being heavily reported by video game journalists back then. While the original arcade game was successful with both players and game critics, the same cannot be said about the N64 port. To find out more, watch PatmanQC’s in-depth video below.

#6 Ramnexus examines Oblivion Remastered – It’s been over a month since Oblivion Remastered (full title: The Elder Scrolls IV: Oblivion – Remastered) was released, and I still have not played it on my Xbox Series X. While it is popular with gamers, I still was not convinced to return to subscribing to Xbox Game Pass (XGP) for it. The original Oblivion of 2006 is one of my favorite RPGs of the 21^st century and I just might consider playing its remastered version someday. For now, I am just watching YouTube videos of the remastered game and I found a recent video by Ramnexus that turns out to be an engaging look at it. Watch Ramnexus’ video below.

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New rules streamlining VAT refund processes will make Philippines more attractive to foreign investors

June 6, 2025June 3, 2025carlocarrasco

In the view of the Bureau of Internal Revenue (BIR), the Philippines will become a more attractive destination for foreign investors due to the new rules streamlining the value-added tax (VAT) refund process, according to a Philippine News Agency (PNA) news article.

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

The Bureau of Internal Revenue (BIR) expects the new rules streamlining the value-added tax (VAT) refund process — a key reform under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act – will make the Philippines a more attractive destination for foreign investors.

In a televised interview, BIR Commissioner Romeo Lumagui Jr. said the new regulations are consistent with President Ferdinand Marcos Jr.’s broader goal of making the country more business-friendly.

“Ang expectation natin, makikita ng mga dayuhang investors na seryoso ang pamahalaan na pagbutihin ang pagnenegosyo at papadaliin ang pagnenegosyo dito sa ating bayan (Our expectation is that foreign investors will see that the government is serious on business and in easing the doing of business in our country),” Lumagui was quoted as saying in a news release on Saturday.

“So, we’re hoping that it will encourage foreign investors to do business here in the Philippines,” he added.

According to the BIR chief, the main objective of CREATE MORE, as well as other BIR efforts, is to ease the doing of business and payment of taxes.

Republic Act No. 12066 or the CREATE MORE Act amended the National Internal Revenue Code to provide greater tax relief and incentives for businesses, particularly exporters.

To implement this, the BIR issued Revenue Memorandum Circular No. 37-2025 on April 10, which reduces the documentary requirements for VAT refund claims.

Under the new guidelines, certified true copies of invoices or receipts may now be submitted in place of original documents.

There was also a reduction of three documentary requirements, particularly the proofs of registration with the Securities and Exchange Commission or Department of Trade and Industry (DTI), whichever is applicable, and the copies of Import Entry and Internal Revenue Declarations/Informal Import Declaration and Entry or Single Administrative Document.

For claims involving amortized input VAT on capital goods, prior certifications from the Bureau of Customs may be reused if already submitted in past filings.

Furthermore, for VAT refund claims starting April 1, exporters are no longer required to submit actual proof of shipment, such as bills of lading.

Instead, the BIR will rely on a certification from the Export Marketing Bureau of the DTI, following a newly signed agreement between the two agencies.

“Ngayon pinadali natin ang proseso sa pakikipag-coordinate sa DTI. So, may kanya-kanyang role ang bawat isa para hindi na rin magdoble-doble ang mga requirements at pag-iimbestiga kung talagang merong mga inexport ang isang entity (We made the process easier through our coordination with the DTI. Each agency now has specific roles to prevent duplication in the submission of requirements and in investigating the goods exported by a business entity,” Lumagui explained.

“Patuloy din ang pag-e-examine natin kung ano ang pwede nating i-streamline na mga proseso para mas mapadali pa ang pagnenegosyo sa ating bayan (We also continue to examine what other processes we can streamline to make doing of business in our country easier),” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the changes made will help the Philippines attract more foreign investors?

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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SEC approves P6.26 billion deal between Filinvest Land and FILRT, Festival Mall ownership included in deal

June 5, 2025May 30, 2025carlocarrasco

Following the huge deal between Filinvest Land. Inc. (FLI) and Filinvest REIT Corporation (FILRT) and the deed of exchange signed by the two corporations over the ownership of Festival Mall, the Securities and Exchange Commission (SEC) officially approved the P6.26 billion deal putting it closer to completion, according to a Manila Bulletin business news report.

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

The Securities and Exchange Commission has approved the valuation of the ₱6.26 billion property of Filinvest Land Inc. to be acquired by Filinvest REIT Corporation (FILRT) via an asset-for-share swap, putting it a step closer to completion.

In a disclosure to the Philippine Stock Exchange, FILRT said it has received from the SEC the Certificate of Approval of Valuation for its property-for-share swap with FLI under which LI will transfer its ownership over the Festival Mall – Main Mall, consisting of a building and certain machinery and equipment in favor of FILRT.

Festival Mall-Main Mall which is located in Filinvest City, Alabang, Muntinlupa City, consists of a building with gross leasable area of 121,862 square meters.

In return, FILRT will issue to FLI 1.63 billion primary common FILRT shares at an issue price of ₱3.85 per share under the Memorandum of Agreement and the Deed of Exchange both dated March 5, 2025.

The Transaction Price was set at a 30 percent premium over FILRT’s 30-day volume-weighted average price of ₱2.94 per share, which is within the range of fair values provided for in FTI Consulting Philippines, Inc.’s Fairness Opinion.

FILRT’s Related-Party Transaction Committee and Board of Directors unanimously approved the Transaction at their special meeting on January 24, 2025, and it was subsequently approved by FILRT’s stockholders during their special meeting on March 4, 2025.

The acquisition of the Property will increase FILRT’s total gross leasable area by 37 percent to 452,310 sq.m. This likewise will improve occupancy from 83 percent to 88 percent and extend the weighted average lease expiry (WALE) from 7.3 to 14.6 years. This will also increase FLI’s equity in FILRT from 51.06 percent to 63.27 percent.

The Transaction allows FILRT to diversify its income sources by integrating retail mall properties into its portfolio. Prior to the infusion, 91 percent of the GLA of FILRT are office buildings.

Post infusion, the portfolio mix of FILRT will be 67 percent offices, six percent hospitality (Crimson Boracay lot) and 27 percent retail (Festival Main Mall).

The infusion of income-generating retail mall assets is expected to result in an increase in FILRT’s distributable income.

Let me end this post by asking you readers: What is your reaction to this recent development? With the approval of the SEC, do you think the big deal between FLI and FILRT will be beneficial not only for the parties and shareholders involved, but also for those who spend time and money at Festival Mall? Did you notice any trends or serious changes at Festival Mall since FILRT became the new owner?

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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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

Four Chinese nationals arrested in Parañaque City by NBI agents

June 5, 2025May 31, 2025carlocarrasco

Recently in the City of Parañaque, four Chinese nationals got arrested as a result of a raid conducted by agents of the National Bureau of Investigation (NBI) inside the condominium unit they stayed in, according to a GMA Network news report. The NBI recovered several pieces of electronic equipment that the suspects threw out of the window desperately. The weird thing is the fact that the NBI agents originally went to the condominium to serve an arrest warrant at a different unit that happens to be near the unit of the apprehended Chinese nationals.

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

Four Chinese citizens were arrested and multiple electronic gadgets were seized when National Bureau of Investigation (NBI) agents raided an alleged scam hub inside a condominium unit in Parañaque City on Wednesday.

According to a ”24 Oras” report by John Consulta on Friday, NBI agents from the Criminal Intelligence Division were serving an arrest warrant in one unit of the condo when they noticed suspicious activity coming from a nearby unit.

Agents reportedly witnessed Chinese citizens throwing laptops and mobile phones out the window, prompting them to shift their attention to the adjacent room.

“Umikot yung ibang tropa doon sa may bintana, sa may gilid. Nakita namin may tinatapon ng mga laptop. Kaya nagtaka kami,” said NBI Assistant Director for Intelligence Service Noel Bocaling.

(Some of our team members went to the side near the window. We saw laptops being thrown out, which raised our suspicions.)

Upon entry into the unit, the agents discovered computers and electronic equipment allegedly used in online scamming operations. Scattered on the floor below the condo unit were laptops, cellphones, and tablets, which investigators believe was a deliberate attempt to destroy evidence.

“Positive kasi yung mga natirang hindi nila naibato, na masira, naabutan namin sa loob. They are indeed involved in scam operations,” Bocaling said.

(The devices they failed to destroy and that we recovered confirm they are indeed involved in scam operations.)

Asked if data could still be retrieved from the damaged devices, Bocaling responded, “Magta-try kami (We will try).”

“Pagka makukuha namin yung mga nandodoon, malalaman natin kung sino mga naloko nila at kung ano-ano mga bansa.”

(Once we retrieve the data, we can find out who their victims are and which countries were targeted.)

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, do you think there are still several Chinese nationals secretly operating scam hubs in residential communities? What do you think makes Parañaque a hot spot of criminal activity involving Chinese nationals?

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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What to watch on YouTube right now – Part 80

June 4, 2025May 29, 2025carlocarrasco

I recommend you check out the following videos I found.

#1 VKunia and Popcorn in Bed react to Minority Report – In 2002, I saw Steven Spielberg’s Minority Report inside one of the cinemas of Festival Mall here in the Philippines. The suspenseful science fiction movie was the first-ever creative collaboration between Spielberg and Tom Cruise, and it ultimately entertained and intrigued many local moviegoers. To find out if Minority Report remains an engaging film by today’s standards, watch the reaction videos of VKunia and Popcorn in Bed below.

#2 PatmanQC examines Zaxxon – I never played Zaxxon in the arcade but managed to play a version of it on MS-DOS PC in the 1980s. Back then, I was often intrigued with Zaxxon’s visual design which involved an isometric view and a clever presentation of the 2D sprites. Due to its depth of gameplay related to the overall design, it was indeed challenging to play. To find who were responsible in making the game and what inspired its visual design, watch the in-depth Zaxxon video of PatmanQC below.

#3 You, Me and the Movies react to Creature from the Black Lagoon – Released in 1954, Creature from the Black Lagoon is a black-and-white 3D monster horror movie kept moviegoers on the edge of their seats. The feature film’s creature went on to become a part of Universal Picture’s classic monsters and also left an impact on American pop culture. Several months ago, You, Me and the Movies posted their reaction video and it is entertaining to see.

#4 Teenage Mutant Ninja Turtles: Tournament Fighters retrospective videos – I never got to play Teenage Mutant Ninja Turtles: Tournament Fighters when it was released in 1993. We had a Super Nintendo Entertainment System (SNES) but we never bought the game. I heard from a few of my friends – who were fortunate enough to play it – that the game was indeed a lot of fun to play and was a nice addition to the sudden rise of fighting games at the time. Developed and published by Konami, Teenage Mutant Ninja Turtles: Tournament Fighters was a commercial and critical hit clearly with the SNES version. To find out what made the game competent with other fighting games and why many considered it to be a great licensed video game, watch the selected retrospective videos below.

#5 Ashleigh Burton reacts to Alien vs. Predator – Back in 2004, I saw Alien vs. Predator in the local cinema in Cebu City, and after watching it I went back home feeling numb and disappointed. For one thing, it was directed by Paul W.S. Anderson who really is not a very good director. Next, the script was pretty bad in quality. Ultimately, the filmmakers did not raise serious efforts to delight fans of both Aliens and Predator. For YouTuber Ashleigh Burton, however, the film has a different impact on her and you can watch her reaction video below.

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Nearly 700 children fed by Las Piñas City Government at Barangay Almanza Uno

June 4, 2025May 30, 2025carlocarrasco

Recently in the City of Las Piñas, the City Government announced that nearly seven hundred children got fed when the community feeding program happened at Barangay Almanza Uno. Vice Mayor and Mayor-elect April Aguilar personally attended the event.

To put things in perspective, posted below is an excerpt from the social media announcement of the City Government. Some parts in boldface…

The Las Piñas City Nutrition Office continued its citywide feeding efforts through the Programang Pang-Nutrisyon para sa Las Piñeros, holding another feeding activity on Wednesday, May 28 at the St. Mary Homes Covered Court in Almanza Uno. The initiative served nearly 700 children with pork picadillo rice toppings and bottled water.

The event aimed to provide accessible and healthy meals to young Las Piñeros, particularly during the school break, to help sustain their nutritional needs. Volunteers and staff from the City Nutrition Office ensured the orderly distribution of food, assisted by community leaders and local personnel.

Mayor-elect April Aguilar personally took part in the event, helping serve meals and engaging with the children and their families. Her presence reflected her administration’s continued support for grassroots nutrition initiatives and direct community outreach.

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? When was the last time the City Government organized a feeding event for the children of your local community?

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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World Bank says Philippines economic growth will be below 6% per year until 2031

June 3, 2025June 3, 2025carlocarrasco

By pointing to several economic factors, the World Bank stated that it expects the economy of the Philippines to grow less than 6% per year until the year 2031, according to a Manila Bulletin news report.

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

The Philippines’ annual economic growth is expected by the World Bank Group (WBG) to remain below six percent this year until 2031.

Its newest country partnership framework (CPF) for the Philippines, covering fiscal years (FYs) 2026 to 2031, showed that the WBG forecasts Philippine gross domestic product (GDP) growth of 5.3 percent for this year, 5.4 percent for next year, and 5.5 percent for 2027—all below the more ambitious six- to eight-percent target of the Marcos Jr. administration for the second half of its term.

“The average GDP growth forecast for 2025 to 2027 is expected at 5.4 percent. Risks are mostly tilted downside and include potential retaliation by main global players that may affect global growth further, probably hitting domestic growth,” the WBG said, referring to the lingering world trade uncertainty caused by United States (US) President Donald Trump’s tariff spree.

“Increased uncertainty could trigger instability in financial markets and capital flight,” it added.

On the flipside, “the Philippines may benefit from improved margins of preference for key export products, and from lower global commodity prices (tied to lower global growth), and absent any external pressures, the prospect of continued monetary policy rate normalization” in the next three years, the WBG said.

This year, its projected 5.3-percent GDP growth rate—poised to be the slowest pace of expansion since the Philippine economy gradually reopened from the most stringent Covid-19 restrictions—was attributed by the WBG to “the direct impacts of the higher tariffs and trade policy uncertainty on demand for exports, the effects of increased global policy uncertainty on investment demand, and the indirect effects on export and investment demand through lower global growth.”

But on the upside, “these negative effects are dampened as the Philippines is mostly integrated in services rather than merchandise value chains (that have been most affected by trade policy barriers), and as public investment and private investment in non-tradables is expected to remain robust,” the WBG added.

Philippine GDP growth is seen picking up gradually to 5.7 percent in 2028, 5.8 percent both in 2029 and 2030, and 5.9 percent in 2031.

The WBG forecasts headline inflation to be in the range of three to 3.2 percent from 2025 to 2031—within the targeted two- to four-percent annual consumer price increases deemed conducive to economic growth.

As the Marcos Jr. administration embarks on fiscal consolidation to narrow the yawning budget deficit and lower the share of public debt to the economy following massive borrowings at the height of the pandemic, the WBG projected the fiscal deficit narrowing gradually from 5.7 percent of GDP in 2024 to 5.4 percent in 2025, 4.9 percent in 2026, 4.4 percent in 2027, 4.1 percent in 2028, 3.9 percent in 2029, 3.7 percent in 2030, and 3.6 percent in 2031.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines currently does not have enough strength to exceed the crucial 6% mark for annual 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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