inflation – Page 2 – Author Carlo Carrasco

US State Department Flags Corruption In The Philippines As Barrier To Investment

October 9, 2025October 10, 2025carlocarrasco

Corruption is sadly deeply rooted here in the Philippines. So much so, the State Department of the United States flagged corruption as a barrier to investment in the Philippines, according to a GMA Network news report. To be clear, there have been economic forecasts about the Philippine economy growing less than 6% this year (possibly ending below the national government’s declared targets) and the US State Department published its detailed report about the country and investment online. As a lot of people are angry over corruption, tremendous economic damage of P1.7 trillion in market capitalization was wiped out (update: the Securities and Exchange Commission chairman apologized for stating the P1.7 trillion figure).

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

The United States Department of State has flagged “pervasive” corruption in the Philippines as among the major barriers to foreign investment in the country.

In its 2025 Investment Climate report, the US State Department said “corruption is a pervasive and long-standing problem in both the public and private sector” in the Philippines.

It also cited the country’s rank of 114th out of 180 countries on Transparency International’s 2024 Corruption Perceptions Index and “remaining around that level since 2019.”

The State Department added that the World Economic Forum also flagged corruption as among the top problematic factors for doing business in the Philippines.

“The Philippines’ complex, slow, redundant, and sometimes corrupt judicial system inhibits the timely and fair resolution of commercial disputes,” it said.

“Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment. Investors often decline to file cases in court because of slow and complex litigation processes and fears of corruption. Stakeholders report an inexperienced judiciary when confronted with cases involving complex issues such as technology or science,” it added.

The State Department also said its embassy in Manila has received multiple reports from US businesses of overly invasive searches, inconsistent customs charges, and solicitations of “facilitation fees” (such as bribes) from some customs officials.

To see the entire 2025 Investment Climate Statements about the Philippines, click https://www.state.gov/reports/2025-investment-climate-statements/philippines

Let me end this post by asking you readers: What is your reaction to this development? Do you think the US State Department’s 2025 Investment Climate report about the Philippines is true and accurate? Are you concerned that the perceived corruption as well as the shocking revelations about the flood control projects scandals are already discouraging foreign investors from investing in the country? Do you think the Trump tariffs will eventually bring down Philippine exports to the United States in the next few months? What do you think the Philippine government should do to wipe out corruption and regain the trust of 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.

+++++

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

Asian Development Bank Sees Philippine Economy Growing Less Than 6% This Year

October 9, 2025September 30, 2025carlocarrasco

The Asian Development Bank (ADB) predicted that the economy of the Philippines will achieve growth of less than 6% this year, according to a GMA Network news report.

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

The Asian Development Bank (ADB) has maintained its economic growth outlook for the Philippines this year on the back of sustained domestic demand despite global trade uncertainties.

In the September 2025 edition of its flagship Asian Development Outlook (ADO), the ADB said it forecasts the country’s gross domestic product (GDP) to grow at 5.6% for 2025, maintained from the ADO July edition’s outlook.

The multilateral lender said that “robust domestic demand amid subdued inflation will support Philippine economic growth this year and the next.”

“The Philippines’ growth outlook remains resilient amid a global environment of shifting trade and investment policies and heightened geopolitical uncertainties,” said ADB country director for the Philippines Andrew Jeffries.

“Though these uncertainties pose increased risk, we see strong domestic demand anchoring growth, with sustained investments and an accommodative monetary policy supporting the economy’s expansion,” said Jeffries.

For 2026, the ADB said it sees the Philippine economy to grow at 5.7% — the same level as the country’s actual growth rate in 2024.

Nonetheless, the bank said the country is expected to remain a bright spot in Southeast Asia, “with the second highest GDP expansion in the region.”

Moreover, the ADB said it forecasts inflation to ease at 1.8% this year, before rising to 3% in 2026 to return to the government’s target range of 2% to 4%. The latest 2025 inflation forecast is lower from July’s 2.2%.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippine does not have any more momentum to grow at least 6% this year? Are you concerned that the flood control projects scandal and government corruption here in the Philippines will turn away 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.

+++++

Weaker Business Sentiment In The Philippines

October 7, 2025September 30, 2025carlocarrasco

Recently the Bangko Sentral ng Pilipinas (BSP) conduct its own survey which revealed that business sentiment in the Philippines became less optimistic during the 3^rd quarter, according to a BusinessWorld news report.

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

Philippine businesses turned less optimistic about the economy in the third quarter amid bad weather and sluggish demand during “ghost month,” a survey by the Bangko Sentral ng Pilipinas (BSP) showed.

Based on its latest Business Expectations Survey, the overall confidence index (CI) for businesses fell to 23.2% in the third quarter, down from the 28.8% in the second quarter and the 32.9% in the same quarter last year.

A positive CI indicates that more respondents are optimistic than pessimistic. However, this was the lowest CI seen since the 23.9% recorded in the fourth quarter of 2022. The business confidence index has been on a decline for three consecutive quarters.

“Philippine businesses were less optimistic about the economy in the third quarter of the year,” the BSP said in a statement. “Their dampened confidence was primarily attributed to the slack in demand during the ‘ghost month’ and the onset of the rainy and typhoon season.”

This year, “ghost month,” the seventh month in the Chinese lunar calendar, ran from Aug. 23 to Sept. 21. Some investors avoid making big investments or decisions during this period.

The country also experienced heavy rains and flooding brought by several tropical storms and the southwest monsoon from late July to early August.

“Global headwinds, such as higher US tariffs, geopolitical tensions, and weaker foreign demand, also weighed on business confidence,” the BSP said. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7.

At the same time, business confidence for the fourth quarter improved to 49.5% from 39.3% previously, as a surge in consumer spending is usually seen ahead of the holidays. The overall business outlook for the next 12 months eased to 48.1% from 51% the previous quarter.

“Despite the lower year-ahead CI, it remained positive, reflecting businesses’ continued optimism about near-term economic prospects,” the BSP said.

Businesses surveyed also see the peso appreciating against the US dollar in the fourth quarter and over the next 12 months but expect inflation to accelerate further.

“Firms also expect inflation over the next 12 months to remain within the National Government’s target range, indicating firmly anchored business inflation expectations. Within-target inflation supports investments and job creation,” the BSP said.

Businesses expect inflation to have settled at 2.1% in the third quarter, and picking up to 2.3% next quarter, and 2.4% in the next 12 months.

The central bank surveyed 1,523 firms nationwide, 580 of which are in the National Capital Region (NCR) and 943 in areas outside NCR, from July 4 to Aug. 17.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines will somehow slow down in the 4^th quarter?

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

+++++

S&P Global Ratings Says Philippine Economy Will Grow Only 5.6% This Year

October 3, 2025September 24, 2025carlocarrasco

2025 continues to look rough for the Philippines. A lot of people are angry over government corruption and the flood control projects scandal investigation is only adding fuel to the fire. When it comes to economic growth, S&P Global Ratings says the economy of the Philippines will grow by only 5.6% this year, according to a Philippine Star news report.

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

S&P Global Ratings has trimmed its growth forecast for the Philippines to 5.6 percent this year from its earlier 5.9 percent estimate, citing subdued private consumption and investment alongside persistent global uncertainties.

The downgrade reflects weaker-than-expected momentum in the first half, when Philippine gross domestic product (GDP) grew by 5.4 percent. This was faster than many economies in Asia, but still below trend and short of expectations.

“Private consumption growth, investment and household confidence are still relatively subdued,” S&P economist Vince Conti told The STAR.

“We expect that both global and domestic uncertainty would continue to weigh on investment growth in the near term,” Conti said.

S&P’s latest projections show the country’s GDP growth will hit the government’s 5.5 to 6.5 percent target for 2025.

The credit watcher also sees growth picking up to 5.8 percent in 2026, though this remains below the government’s more ambitious six to seven percent goal for next year.

Conti noted, however, that the country’s reliance on external demand comes more from services rather than goods trade, which provides a degree of resilience against heightened global trade frictions.

“This will partially mitigate the impact of the elevated trade tensions,” he said. “On the positive side, with inflation low and likely to remain under control in the next few years, the Bangko Sentral ng Pilipinas (BSP) has room to continue its easing path to support growth.”

S&P expects Philippine inflation to average 1.8 percent in 2025, sharply down from 3.2 percent last year, before rising moderately to three percent in 2026 and 3.3 percent in 2027.

The credit watcher is penciling in around 100 basis points of further policy rate cuts by the BSP between now and end-2026, which could help shore up domestic activity.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines does not have enough momentum to achieve 6% growth this year? Do you think that any rise of inflation will hamper 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.

+++++

Philippines Inflation Rate Reaches 1.5% In August 2025

September 13, 2025September 7, 2025carlocarrasco

The inflation rate of the Philippines grew to 1.5% this past August and the recent price hikes of food and non-alcoholic drinks were factors, according to a Manila Bulletin news report.

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

The rate of increase in consumer prices has accelerated last month due to jump in food prices, with recent weather events heavily impacting the cost of vegetables, the Philippine Statistics Authority (PSA) reported on Friday, Sept. 5.

Headline inflation accelerated to 1.5 percent in August 2025, faster than the 0.9 percent recorded in July, although still below the 3.3 percent recorded in the same month last year, data from the PSA showed. From January to August, average inflation stood at 1.7 percent.

According to the PSA, the uptick was mainly driven by food and non-alcoholic beverages, which posted an inflation rate of 0.9 percent and contributed 69.3 percent to the overall figure.

Within this group, vegetables, tubers, and bananas rose by 10 percent, while fish and other seafood climbed 9.5 percent.

PSA Chief Dennis Mapa stated that recent typhoons had significantly impacted vegetable prices.

In the National Capital Region (NCR), vegetable inflation reached 26.5 percent, compared with 6.9 percent in areas outside NCR.

“The impact of the typhoons in the past few months has been attributed particularly to vegetables,” Mapa said in Filipino, adding that vegetable prices surged in both NCR and other regions in August.

Despite the rise in headline inflation, the bottom 30 percent of income households continued to experience deflation.

Mapa explained that rice, which accounts for about 18 percent of the spending basket for poor households, has posted a sharp price drop.

Rice deflation was recorded at –17 percent for all households and an even deeper –19.3 percent for the bottom 30 percent, offsetting higher costs of vegetables and fish.

Mapa noted that rice inflation is likely to remain negative in the coming months, although the decline may not be as steep as current levels.

Prices are expected to continue trending downward, but the deflationary effect is narrowing, he said.

Let me end this post by asking you readers: What is your reaction to the recent developments? Did you spend a lot more on food and beverages this past August?

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

+++++

UA&P Sees Stronger Q3 Economic Growth for the Philippines Despite Trump Tariffs

September 1, 2025August 25, 2025carlocarrasco

As far as the University of Asia and the Pacific (UA&P) is concerned, the economy of the Philippines will still grow stronger in the 3^rd quarter by 5.8% despite the 19% Trump tariffs, 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…

PHILIPPINE economic growth may pick up in the third quarter despite higher US tariffs and “milder” typhoons, the University of Asia and the Pacific (UA&P) said.

“Despite the Trump tariffs, milder typhoon season will help accelerate GDP expansion in Q3 to 5.8%, given a low base in 2024,” it said in its latest The Market Call released on Friday.

If realized, this would be faster than 5.2% in the third quarter of 2024 and 5.5% print in the second quarter. This forecast is also within the government’s revised 5.5% to 6.5% target this year.

“Consumer spending remains strong, aided by low inflation but limited by new US taxes on OFW (overseas Filipino Worker) remittances,” UA&P said.

Inflation cooled to a near six-year low of 0.9% in July as utilities and food costs continued to ease. This brought the seven-month average to 1.7%, slightly below the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target band.

UA&P said government infrastructure spending may also regain momentum in the third quarter. This was after state spending slumped due to the 45-day election ban on public works spending from March 28 to May 12.

UA&P said residential construction will remain subdued due to elevated policy and interest rates.

The Bangko Sentral ng Pilipinas (BSP) has so far lowered borrowing costs by a total of 125 basis points (bps) since it began its easing cycle in August last year. The policy rate now stands at 5.25%.

UA&P said the US dollar rate will “move either way” depending on rate cuts by the BSP and the US Federal Reserve.

“The peso-dollar rate has a fundamental depreciation bias although it will depend much on extent and timing of policy rate cuts by BSP and the Fed,” it said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will be able to grow stronger in the 3^rd quarter even though the 19% Trump tariffs are already in effect? Do you see any signs of Philippine exports to America slowing down already?

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

+++++

Philippines inflation rate falls below 1% in July 2025

August 12, 2025August 5, 2025carlocarrasco

After the slight rise recorded in June 2025, the inflation rate of the Philippines fell below 1% this past July, according to news article by the Philippine News Agency (PNA).

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

The country’s inflation or the rate of increase in the prices of goods and services reversed its path in July 2025 after decelerating to 0.9 from month-ago’s 1.4 percent, driven primarily by the slower upticks in electricity rates and prices of liquefied petroleum gas (LPG).

The latest inflation figure, the lowest since October 2019’s 0.6 percent, brought the average in the first seven months this year to 1.7 percent, still below the government’s 2 to 4 percent target.

National Statistician Claire Dennis Mapa, in a briefing Tuesday, said food and non-alcoholic beverages also contributed to the lower inflation rate last July due to lower price increases of several items like rice, vegetables, tubers and cooking bananas; and fuel prices.

He said a continued drop in rice prices is seen to result in slower uptick for this particular item for the rest of the year, despite the proposal to stop rice importation and increase tariff to protect local farmers.

The government increased rice importation and lowered rice tariff from 35 percent to 15 percent for a period, starting in the second half of 2024 until 2028 to address rice price hikes.

This resulted in lower rice inflation, from 14.7 percent in August 2024 to 0.8 percent in December last year. Mapa forecast rice inflation to remain in negative territory for the next four months.

“The expectation is negative average rice inflation for the whole year,” he said in a mix of Filipino and English.

In terms of the impact of recent typhoons, Mapa said prices of vegetables have inched up in the second half of July, which is normal during typhoon season.

While inflation is seen to remain low, he pointed out that there are threats such as the higher prices of pork products, due to the impact of African swine fever; higher demand for chicken meat, as an alternative to pork, and rising prices of fish.

Deflation in low-income households – With the government is offering cheaper rice to the vulnerable sector, inflation rate for the bottom 30 percent income group as of July slipped to -0.8 percent from the year-ago’s 5.8 percent, the Department of Economy, Planning, and Development (DEPDev) noted.

Aside from rice, other contributors to the lower inflation rate for the bottom 30 percent income group are slower upticks in the prices of corn and vegetables and tubers, it said.

“The sustained drop in rice prices and the easing of inflation for low-income households are clear signs that our interventions are working. This not only helps Filipinos preserve the value of their peso but also builds confidence for businesses and consumers to plan ahead,” DEPDev Secretary Arsenio Balisacan said.

“While we expect the overall inflation for 2025 to remain favorable and supportive of domestic demand, we remain vigilant against external risks, including global policy shifts and geopolitical tensions,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there is a chance that the inflation rate of the Philippines will remain below 1% for the rest of 2025? Do you think the deflation of rice will continue going into 2026?

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

+++++

ADB sees Philippine economy growing by 5.6% this year

August 1, 2025July 24, 2025carlocarrasco

By pointing to a variety of factors, the Asian Development Bank (ADB) recently announced that the economy of the Philippines will grow by 5.6% this year, according to a news article by the Philippine News Agency (PNA). The ADB recently released its latest economy report.

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

The Philippines is expected to post the second highest economic growth in Southeast Asia this year despite the downgrade in growth outlook due to external headwinds, a report released by the Asian Development Bank (ADB) showed.

In its Asian Development Outlook July 2025 report released on Wednesday, the ADB said Philippine economic growth is expected to settle at 5.6 percent this year.

The growth outlook for the Philippines is the second highest in Southeast Asia, next to Vietnam’s 6.3 percent. Indonesia is projected to grow by 5 percent, Malaysia by 4.3 percent, Singapore by 1.6 percent, and Thailand by 1.8 percent.

For 2026, growth is expected to slightly pick up to 5.8 percent.

The ADB’s latest projection, however, was lower than its 6 percent for 2024 and 6.1 percent for 2025 economic growth forecast amid external headwinds. The Philippine economy grew by 5.4 percent in the first quarter of the year.

“Domestic demand grew 6.7 percent, supported by easing inflation and monetary policy. However, net exports dragged on growth as brisk imports outpaced exports,” the ADB said. It added that manufacturing index (PMI) recovered slightly to 50.7 in June from 50.1 in May.

“Consumer sentiment was positive in the near term. Unemployment was low at 3.9 percent in May, and remittance growth of 3.0 percent helped sustain household spending,” it said.

The ADB, however, said that business confidence softened amid heightened global policy uncertainties.

According to the ADB, economic forecasts for most countries in Southeast Asia have been downgraded for 2025 and 2026 due to the continuing global growth slowdown and increased trade uncertainty.

“Weaker external conditions have hurt business and consumer sentiment and threaten to disrupt investment in the subregion,” it said.

“Except for Indonesia, the largest economy in the subregion, all Southeast Asian economies are expected to post weaker growth in the next two years.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it is still possible for the economy of the Philippines reach 6% GDP growth by the end of 2025?

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

+++++

Philippines Inflation Rate Rises to 1.4% in June 2025

July 10, 2025July 4, 2025carlocarrasco

After back-to-back months of shrinking, the headline inflation of the Philippines inched up to 1.4% for the month of June 2025, according to a news article by the Philippine News Agency (PNA). By comparison, May 2025 inflation rate was 1.3%.

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

Headline inflation continued to remain below the lower end of the government’s target range in June, despite a slight uptick due to a faster increase in non-food prices.

In a briefing on Friday, National Statistician Dennis Mapa said headline inflation settled at 1.4 percent in June from 1.3 percent in May.

This brings the year-to-date average inflation to 1.8 percent, well within the government’s target range of 2 percent to 4 percent for the year.

Mapa said the slight uptick in headline inflation was driven by higher non-food inflation (1.9 percent from 1.5 percent), with faster price increases observed in electricity (7.4 percent from 2.8 percent) and education (5.4 percent from 4.2 percent). Food inflation, however, eased to 0.1 percent during the month from 0.7 percent in May.

Mapa said the deceleration of food inflation in June was mainly due to the annual decrease in the prices of vegetables, tubers, plantains, cooking bananas, and pulses at 2.8 percent from an annual increase of 3.4 percent in the previous month. Rice deflation also hit a record low of 14.3 percent in June.

Mapa said the rollout of the government’s PHP20 per kg. rice program also contributed to the decline, especially in regular-milled rice prices.

In a separate statement, the Department of Economy, Planning, and Development (DEPDev) said government measures to stabilize food supply, boost agriculture, and improve logistics helped ease food inflation during the month.

“The sharp decline in food inflation over the past year underscores the continued progress in our coordinated efforts to boost local production, improve logistics, and implement calibrated trade and biosecurity measures,” DEPDev Secretary Arsenio Balisacan said.

“We will sustain these interventions and complement them with targeted initiatives to ensure a continuous, stable supply and shield consumers from future price pressures.”

To further strengthen food supply chains, DEPDev said the Department of Agriculture (DA) would intensify the implementation of industry recovery and expansion programs, such as the Swine Industry Recovery Project and Livestock Economic Enterprise Development, to accelerate the rehabilitation of the hog industry and restore the pre-African Swine Fever hog population levels.

The DA will also establish the country’s first Onion Research and Extension Center in Bongabon, Nueva Ecija for the development of effective methods to combat pests and diseases, enhance seed quality, and increase farm yields.

The Department of Energy, meanwhile, has partnered with private oil companies to offer fuel discounts to motorists affected by oil price fluctuations amid geopolitical uncertainties.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think inflation rate of the Philippines will be able to settle below 2% per month until the end of the year? If you are managing a local business, how much of an impact did inflation have on your business?

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

+++++

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

Nineteen More Medicines VAT-Exempt in the Philippines

July 5, 2025July 4, 2025carlocarrasco

Following the recent announcement of several medicines declared exempted from the value-added tax (VAT), nineteen more medicines became VAT-exempt as a result of the recommendation of the Food and Drug Administration (FDA) to the Bureau of Internal Revenue (BIR), according to a news article by the Philippine News Agency (PNA).

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

Nineteen maintenance and lifesaving medicines have been included in the list of those exempted from value added tax (VAT), benefiting more people.

Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr., during the Bagong Pilipinas Ngayon briefing on Thursday, said nine medicines were included under Revenue Memorandum Circular (RMC) 59-2025 issued on June 11, 2025 while the other 10 are covered by RMC 62-2025.

He said the inclusion of the medications for VAT exemption was based on the recommendation of the Food and Drug Administration (FDA).

Of the total, seven of these medicines are for cancer treatment; three each for diabetes, hypertension and mental illness; one each for high cholesterol, kidney disease, and tuberculosis.

“Ang mga ito ay mga maintenance at lifesaving medicines na ngayon ay hindi na papatawan ng VAT. Isang kongkretong hakbang para mas mapagaan ang gastuhin ng mga pasyente (These are maintenance and lifesaving medicines that will now be exempt from VAT. This move is a concrete step to lower patients’ expenses),” Lumagui said.

The BIR chief said both the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the Tax Reform for Acceleration and Inclusion (TRAIN) law provide VAT exemptions on certain health products.

He said BIR coordinates with the FDA and the Department of Trade and Industry (DTI) among others to monitor compliance among pharmaceutical companies and drugstores regarding this price changes.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that a lot more medicines were declared VAT-exempt?

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

+++++

	Instapundit »… on Trump Responds To US Supreme C…
	Instapundit »… on Trump’s America Urges Allies T…
	The H.A.R.D. Corps (… on A Look Back At The H.A.R.D. Co…
	Instapundit »… on A Lot More American Fruits And…
	Instapundit »… on Varied And Impactful Changes R…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: