Investagrams – Page 31 – Author Carlo Carrasco

Parañaque Congressman Yamsuan seeks passage of Equal Maternity Protection Act

August 14, 2025August 6, 2025carlocarrasco

Following the 4^th State of the Nation Address (SONA) of Philippine President Ferdinand “Bongbong” Marcos, Parañaque’s 2^nd District Representative Brian Yamsuan seeks passage of House Bill No. 224 (Equal Maternity Protection Act) which is one of his more notable proposals in the House of Representatives, according to a Manila Bulletin news report.

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

Parañaque City 2nd Rep. Brian Raymund Yamsuan has highlighted the significance of one of his pet bills in the 20th Congress following President Marcos’ his fourth State of the Nation Address (SONA) earlier this week.

In a statement Wednesday, July 30, Yamsuan sought the passage of House Bill (HB) No.2240, or the Equal Maternity Protection Act. It aims to provide maternity cash benefits for women workers in the informal sector.

Specifically, the measure seeks “a one-time direct maternity cash benefit per delivery” to informal sector female workers “equivalent to the prevailing minimum wage rate in their region of residence multiplied by 22 days”.

Once the bill becomes law, a female worker in the informal economy who lives in Metro Manila where the prevailing minimum wage rate is P695 will receive P15,290 from the DSWD after giving birth.

Yamsuan’s proposal covers women workers in the informal economy who are not members of the Social Security System (SSS), whether on a regular or voluntary basis. These include freelancers, own-account workers, home-based workers and workers in unrecognized or unregulated employment relationships.

In his SONA last Monday, July 30, President Marcos expressed a renewed commitment to expand opportunities for low-income Filipinos to set up small businesses. The Department of Trade and Industry (DTI) said that among the expected beneficiaries of this SONA commitment are women.

“Malaking bahagi ng ating mga informal workers na kasama sa pagpapasigla ng ating ekonomiya ay mga kababaihan at karamihan sa kanila ay walang benefits na natatanggap mula sa gobyerno. Ang ating panukalang batas ay layuning mabago ang ganitong di-patas na pagtrato sa kanila,” Yamsuan said.

(A big chunk of our informal workers who contribute to energizing our economy are women and many of them do not receive any benefits from the government. Our bill aims to change this unfair treatment of them.).

HB No.2240 intends to amend certain provisions of Republic Act (RA) No.11210, or the Expanded Maternity Leave Law in which eligibility is limited only to women who are SSS members and contributors.

Yamsuan said that in his district alone where he has helped provide jobs and livelihood opportunities through his Bigay Negosyo and Dagdag Pangkabuhayan programs, the majority of the beneficiaries were women.

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 find the details of Congressman Yamsuan’s proposal clear and concise? Do you think the proposal will be able to help a lot of women in the informal sector once it becomes a law? If you are a 2^nd district voter of Parañaque, do you like what Congressman Yamsuan is doing?

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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Jobless Filipinos reach almost 2 million in June 2025

August 14, 2025August 6, 2025carlocarrasco

The number of jobless Filipinos swelled largely to almost two million this past June when compared to a year prior, according to a Manila Bulletin news report. Among the factors were the job losses in the gambling and betting sector, the construction sector and in 3 other sectors.

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

Coupled with an increase in unpaid workers, the number of jobless Filipinos swelled by more than 300,000 to 1.95 million in June from 1.62 million a year ago, with the online gambling sector partly contributing to the pool of unemployed.

Preliminary data from the Philippine Statistics Authority (PSA) showed that job losses in June translated to a higher unemployment rate of 3.7 percent from 3.1 percent in the same month last year.

“Gambling and betting activities contributed to the drop in arts, entertainment, and recreation, along with other amusement and recreation activities,” Deputy National Statistician and PSA Assistant Secretary Divina Gracia L. Del Prado said during a press briefing on Wednesday, Aug. 6.

Del Prado reported that the gambling and betting subsector shed nearly 210,000 workers, stressing that this had the largest share in the decrease of employees in arts, entertainment, and recreation.

Other than arts, entertainment, and recreation, the four other sectors that were major contributors to June’s job losses were construction (-692,000), agriculture and forestry (-580,000), manufacturing (-424,000), and mining and quarrying (-96,000).

Conversely, the employment rate dropped to 96.3 percent in June from 96.9 percent from June last year. In terms of numbers, employed Filipinos stood at 50.47 million, nearly 200,000 individuals higher than 50.28 million a year ago.

Data from the PSA showed that the services sector accounted for the largest share of jobs during the month at 61.4 percent, followed by agriculture with 20.9 percent, and industry with 17.7 percent.

Fishing and aquaculture posted the highest gains in June, with an additional 512,000 employed. Wholesale and retail trade, and vehicle repair recorded the second largest gain of 375,000.

Completing the subsectors with largest increases were financial and insurance activities (327,000), transport and storage (211,000), and health and social work (179,000).

“What we’re seeing now isn’t very encouraging. If you look at the increase by class of worker, a large portion came from unpaid workers—actually, 296,000. Employers increased by 80,000, and self-employed by 75,000,” Del Prado said.

“But the more [impacted] group is the unpaid workers, since that’s where the increase happened—and that’s not the kind of growth we want. The rise should have been in wage and salary earners, so this isn’t a very good result,” Del Prado further said.

Del Prado noted that wholesale and retail trade saw a significant increase, with unpaid workers in this sector bloated by nearly 150,000. Fishing and aquaculture also added 102,000 unpaid jobs.

“Employment in both sectors increased, but a large part of that growth was in unpaid work. This suggests we still need to improve the quality of jobs. And if you also notice the trend in underemployment, it has barely dropped to single digits—only once so far.”

“So we still need to improve job quality. While our employment rate has been rising over time, I think we need to focus more on improving the quality of work, because the underemployment rate shows that it hasn’t improved yet,” she urged.

According to Del Prado, underemployment last fell to single digits in May 2024 at 9.9 percent but has remained in double digits since then. Underemployment in June lowered to 11.4 percent from 12.1 percent a year ago.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think needs to be done in order to improve job quality? Are a lot of people in your local community considered unemployed or underemployed? Do you think the current growth of the national economy will create a significant number of new jobs before the year ends?

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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Four Chinese nationals arrested in Parañaque City over kidnapping

August 13, 2025August 4, 2025carlocarrasco

Recently in the city of Parañaque, local law enforcers arrested four Chinese nationals over the kidnap of a fellow Chinese national, according to a Philippine News Agency (PNA) news article. The suspects previously operated as money changers targeting those who exchanged large amount of money.

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

Four Chinese nationals were arrested over the weekend for allegedly kidnapping a fellow Chinese citizen, Philippine National Police (PNP) chief Gen. Nicolas Torre III announced on Monday.

In a press briefing at Camp Crame, Torre said the four suspects were arrested on Saturday by members of the PNP’s Anti-Kidnapping Group (AKG) at a resort-casino in Parañaque City.

He said the group operated as money changers who would target individuals exchanging large amounts of money.

“Matagal na kasi established itong apat, kilala na ito na mga money changer (These four have been established for a long time and are known as money changers),” he added.

AKG director Brig. Gen. Glicerio Cansilao said the 30-year-old male victim, while in captivity, managed to a discreetly call a friend through a borrowed mobile phone. The friend then called law enforcement authorities via 911.

Upon arrival at the hotel room, AKG operatives found six individuals —the four suspects, the victim, and a female Chinese national who also turned out to be a victim.

It was also learned that the male victim was physically harmed and forced to transfer an approximate amount of US$50,000 from his cryptocurrency wallet as part of ransom for his freedom.

The suspects are temporarily detained at Camp Crame and have already undergone inquest proceedings for charges of kidnapping and serious illegal detention.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could still be a lot of criminal activities committed by Chinese nationals? Do you consider Parañaque a hot spot of criminal activities 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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USAID closure felt by minority group in Nepal

August 12, 2025August 11, 2025carlocarrasco

Nepal, a nation of more than 30 million people and with a Hindu majority, has a certain group of minority people whose reliance on the scandalous U.S. Agency for International Development (USAID) ended months ago and they event went on to celebrate pride recently, according to a news report by the Leftist Associated Press (AP) magnified by the Manila Bulletin.

For the newcomers reading this, the USAID global scandal happened months ago and there was a list of overseas projects of questionable and wrongful purposes that were funded with American taxpayers’ money. USAID has formally shut down and was incorporated into the State Department.

To put things in perspective, posted below is an excerpt from AP story published through the Manila Bulletin. Some parts in boldface.

Members of the Nepal’s LGBTQ+ community and supporters rallied in the capital Sunday in the annual pride rally, which was the first since a major cut in funding after the U.S. government ceased financial aid.

Hundreds of people took part in the rally through the heart of Kathmandu, playing music and dancing in the Gai Jatra festival, which is celebrated to remember family members who have passed away during the year. But it has long drawn colorful parades by bringing in sexual minorities to join in on the festivities.

Nepal’s LGBTQ+ campaign has been hit after U.S. President Donald Trump’s administration began dismantling the U.S. Agency for International Development, which was responsible for humanitarian aid.

Most of the support centers for Nepal’s LGBTQ+ community have been closed because of a lack of funds.

In the past few years, Nepal’s LGBTQ+ community made rapid advancements in securing their rights. The nation became one of the first in Asia to allow same sex-sex marriage. The constitution adopted in 2015 explicitly stated there can be no discrimination on the basis of sexual orientation.

The U.S. was among the biggest donors for the LGBTQ+ rights campaign.

Over the years, USAID and others stepped in and partnered with help centers to support initiatives like HIV prevention and care, and safe-sex counselling. The U.S. funds were vital for running the centers and clinics that helped with distributing free condoms, screenings and follow-up treatment for people with HIV. Now the USAID office in Nepal is closed.

Even though they don’t have funds anymore from USAID, the minority group in Nepal still went on to spend time and money on celebrating pride. Here in the Philippines, the local LGBTQIA+ organizations depended on USAID funding. The USAID funding for the LGBTQ people in Nepal looks similar to what was funded to their Filipino counterparts. Going further, there was even an LGBTQ comic book project in Peru that got funded with $32,000 American taxpayers’ money. Very clearly, USAID was very abused and funded wrongful and questionable projects around the world.

Let me end this piece by asking you readers: What is your reaction to this development? Are you glad that the Trump administration ended USAID? Are you still upset over the fact that American taxpayers’ money funding LGBTQ projects, contraceptives, DEI (diversity-equity-inclusion) causes, and sex change procedures around the world through USAID? What do you wish to say to LGBTQ groups overseas who benefited from USAID support? Do you think that the LGBTQ projects funded by USAID might have involved bribery? Do you think US Congress should pass a proposal to prevent USAID from ever being revived?

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

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Las Piñas City Deploys Over 1,000 “Habagat” Victims for 10-day Community Work

August 12, 2025August 11, 2025carlocarrasco

Recently in the City of Las Piñas, the City Government deployed over one thousand “habagat” victims to do community work for a 10-day period in accordance to the Department of Labor and Employment’s (DOLE) Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program, according to a Manila Bulletin news report.

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

The city government of Las Piñas deployed around 1,200 victims of the southwest monsoon or “habagat” to do community work for 10 days under the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program of the Department of Labor and Employment (DOLE).

Las Piñas City Mayor April Aguilar said that under “Alagang April,” the Public Employment Service Office (PESO) helped the 1,200 residents to earn and recover from the recent “habagat” and typhoons that hit the country.

Aguilar said the beneficiaries belong to the vulnerable sector and will conduct community work for 10 days around the city by sweeping around their barangays, helping in the drainage of canals, and maintaining cleanliness in their areas.

She said the TUPAD beneficiaries attended an orientation on their community work and will receive P6,950 each.

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 under the detail of the TUPAD program with regards to providing temporary employment opportunities for the disadvantaged people? How many people in your local community got deployed by the City Government?

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

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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.

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Ayala-Mitsubishi’s P18.4 billion GCash deal closed

August 11, 2025August 1, 2025carlocarrasco

After being cleared by the Philippine Competition Commission (PCC), the P18.4 billion deal between Ayala Corporation and Mitsubishi Corporation regarding a 6.5% stake in GCash owner Globe Fintech Innovations Inc. (Mynt) has finally closed, according to a Manila Bulletin business news report.

For the newcomers reading this, the Ayala-Mitsubishi deal was sealed a few months ago and it was perceived that it will likely boost the IPO of GCash.

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

The Zobel family’s Ayala Corp. (AC) has closed the sale of a 6.5-percent stake in GCash owner Globe Fintech Innovations Inc. (Mynt) to long-time partner Mitsubishi Corp. for ₱18.4 billion after the deal was cleared by the anti-trust watchdog Philippine Competition Commission (PCC).

In a disclosure to the Philippine Stock Exchange (PSE), Ayala said it has sold half of wholly owned AC Ventures Holding Corp. (ACV) to Mitsubishi. ACV owns about 13 percent of Mynt. Mynt has two financial technology (fintech) companies: G-Xchange Inc., the mobile wallet operator of GCash, and Fuse Lending, a tech-based microlender.

The PCC has cleared the deal after finding that Mitsubishi’s investment in ACV would not significantly reduce competition in the market for QR code-based digital payments to merchants.

The PCC noted in its decision the relatively small market share held by GCash in the provision of QR-based person-to-merchant payments. Additionally, the PCC cited the strong governmental push for interoperability in QR-based payments in the country as a factor in its approval.

Person-to-merchant payments, facilitated by QR codes, enable businesses to accept digital payments from consumers for goods and services.

While Mitsubishi indirectly owns Lawson Philippines, a convenience store chain that accepts QR code-based payments from consumers, the PCC said that its limited presence means the transaction would not result in a substantial lessening of competition.

“Mitsubishi, Japan’s largest trading company, can help Mynt grow overseas and within its own significant Japan-based ecosystem, and in areas like cloud-based payments and new credit algorithms,” Ayala said.

Ayala and Mitsubishi entered into a partnership and cooperation agreement in 1974 that has since featured industrial estates, renewable energy (RE) projects, a water utility, and auto dealerships.

Ayala President and Chief Executive Officer (CEO) Cezar P. Consing said earlier that, “We believe Mitsubishi can add meaningful value to Mynt, which will allow Mynt to deliver significant value to its over 94 million registered users.”

ACV will serve as Ayala and Mitsubishi’s joint venture (JV) entity that will explore consumer-related and digital opportunities in the Philippines.

“These initiatives are aligned with AC’s strategic priority to support the growth of clear business winners within its portfolio,” Ayala said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there will be a series of technological and technical improvements happening with GCash as a result of the closed deal between Ayala and Mitsubishi? How many people in your household are using GCash nowadays?

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 attracts 3.47 million international visitors as of July 30, 2025

August 10, 2025July 31, 2025carlocarrasco

As the Department of Tourism (DOT) gave the press updates about the state and direction of tourism, it was revealed that the international visitors who arrived in the Philippines this year reached less than 3.5 million as of July 30, according to a Philippine News Agency (PNA) news article.

For the newcomers reading this, the DOT confirmed early this year that the nation attracted less than 6 million foreign tourists in 2024 (note: the declared target was 7.7 million) and quickly pointed to all-time high revenue for success and the tourism industry as a whole contributed 8.9% to the 2024 Philippines gross domestic product (GDP).

By attracting 3.47 million international visitors as of July 30, 2025, it looks like the Philippines will barely reach the 6 million mark by the end of the year, and there is no denying the fact that not enough foreign tourists are visiting the country. Keep in mind that in the Philippine perspective, international visitors include both foreign tourists and overseas Filipinos.

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

The Philippine tourism sector has so far generated USD4.2 billion (PHP242 billion) in visitor receipts from Jan. 1 to June 18, the Department of Tourism (DOT) said Thursday. Tourism Secretary Christina Frasco said the figure is up 0.48 percent, year on year.

As of July 30, the agency recorded 3,473,726 international visitors – 3.15 million foreigners and 317,536 overseas Filipinos.

In a media briefing in Makati City, Frasco said the DOT is planning to recalibrate its targets for 2025 to take into consideration the challenges the sector is currently facing.

Despite this, aggressive promotions will continue in the Philippines’ top markets, including South Korea, Japan, and the United States.

The DOT, Frasco said, would also increase Philippine exposure in Canada to capture more Canadian visitors with the recent launch of direct flights from Air Canada.

With recalibration underway, Manila is likewise looking at emerging markets to boost arrivals, among them Australia, the United Arab Emirates, and India, Frasco said.

“We’re taking a very close look at these exciting markets, especially India, which now has visa-free access and forthcoming direct flights to Manila,” she said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DOT right now cannot come up with effective solutions to make the Philippines a more attractive tourist destination? Do you think Congress should increase the annual budget of the DOT so that it can execute its tourism plans? Does the DOT need a new leader 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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One thousand 2nd District residents of Parañaque City sign up for TUPAD program

August 10, 2025August 10, 2025carlocarrasco

Recently in the city of Parañaque, one thousand residents of eight barangays that are all part of the 2^nd district of the city formally signed up as the newest batch for the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program, 2^nd District Congressman Brian Yamsuan confirmed through his official Facebook page.

To put things in perspective, posted below is an excerpt from the social media confirmation by Congressman Yamsuan. Some parts in boldface…

This morning, August 7, 2025, we successfully conducted the contract signing of 1,000 beneficiaries of our Batch 4 P5/TUPAD Program from eight barangays of District (Two) of Parañaque!

Our deepest gratitude to DOLE for their continuous support, and to our fine senators Sen. Pia Cayetano , Sen. Alan Peter Cayetano and Sen. Jinggoy Estrada — because of you, this program is made even more possible.

This is a big help to our countrymen and to every barangay of District (Two).

Present during the August 7 signing and gathering were Congressman Yamsuan, Vice Mayor Benjo Bernabe, City Councilor Tess de Asis and City Councilor Binky Favis. The four incumbent officials are all part of Team Pag-Asa. For my previous posts about Team Pag-Asa, click here and here. For updates from Congressman Yamsuan, click https://www.facebook.com/congbrianyamsuan

For the newcomers reading this, the TUPAD program is an initiative of the Department of Labor and Employment (DOLE) that provides short-term, community-based employment to the workers described as vulnerable or displaced, underemployed or seasonal. The temporary jobs offered by the program are often connected with community projects like the maintenance of public facilities and cleaning.

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 like what Congressman Brian Yamsuan is doing with the residents and projects of District Two? Do you think Congressman Yamsuan’s city projects will succeed in lifting people up from poverty without necessarily making them dependent on government support?

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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Philippine Economy Grew by 5.5% in 2nd Quarter of 2025

August 9, 2025August 7, 2025carlocarrasco

The economy of the Philippines expanded by 5.5% during the 2^nd quarter of 2025, according to a GMA Network news report. Among the factors are strong 2^nd quarter gains by the agriculture, forestry, fishing, industry and services sectors.

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

The Philippine economy grew marginally quarter-on-quarter in the second quarter of 2025 amid the growth seen in services, agriculture, and industry sectors, and posted a deceleration from the same period last year, according to the Philippine Statistics Authority (PSA).

The country’s gross domestic product (GDP) — the value of goods and services produced in a period — grew slightly faster by 5.5% in the April to June 2025 compared to the 5.4% growth seen in the January to March 2025 period, PSA chief and National Statistician Claire Dennis Mapa reported at a press conference in Quezon City on Thursday.

The second quarter GDP growth was the fastest in four quarters, however, it was still slower than the 6.5% growth rate in the same period in 2024.

All major economic sectors posted annual growth during the quarter — agriculture, forestry, and fishing with 7.0%, industry with 2.1%, and services with 6.9%.

The PSA attributed the year-on-year growth to wholesale and retail trade, repair of motor vehicles and motorcycles with 5.1%; public administration and defense, and compulsory social security with 12.8%; and financial and insurance activities with 5.6%.

Fixed capital investments climbed 2.6%, led by private construction which grew 11.2%, and investments in durable equipment up 10.6%.

Government spending posted an 8.7% growth rate during the quarter, slower than the 18.7% seen in the first quarter, which Department of Economy, Planning, and Development (DepDev) Secretary Arsenio Balisacan attributed to the election spending ban.

“We expect to maintain that momentum in the spending side. I think that the next half, the second half of the year, you should see improvements in the construction, public construction spending,” he said in a briefing.

While the election spending ban hit government spending, officials said the campaigns boosted household spending which grew by 9.5%, faster than the 5.29% in the previous quarter, and the 5.4% in the second quarter of 2024.

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 accelerate to achieve 6% gross domestic product (GDP) growth for the entire year?

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

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