Pinoy – Page 100 – Author Carlo Carrasco

Moody’s Ratings sees the Philippines becoming the 2nd fastest growing Southeast Asian economy this year and in 2025

April 15, 2024April 3, 2024carlocarrasco

For this year and 2025, Moody’s Ratings projects the Philippines will end up as the 2^nd fastest growing economy in Southeast Asia, 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…

THE PHILIPPINES is projected to be the second-fastest growing economy in Southeast Asia this year and in 2025 as domestic demand is expected to remain resilient, according to Moody’s Ratings.

“We have kept unchanged our 2024 and 2025 forecasts for the Philippines and Malaysia and also expect sequentially higher growth in both countries. Domestic demand remains the primary economic growth engine for the Philippines,” it said in a report.

Moody’s Ratings kept its forecast for gross domestic product (GDP) growth for the Philippines at 5.9% this year and 6% in 2025.

However, these projections fall short of the government’s growth targets of 6.5-7.5% for this year and 6.5-8% for next year.

At 5.9%, the Philippines has the second-fastest projected growth in Southeast Asia for 2024, after Vietnam (6%). It is ahead of Indonesia (5%), Malaysia (4.5%) and Thailand (2.8%).

For 2025, the Philippines is again expected to post the second-fastest growth behind Vietnam (6.5%) but ahead of Indonesia (5%), Malaysia (4.8%), and Thailand (3%).

Moody’s Ratings said that growth in domestic demand-driven countries like the Philippines is “increasing more than we previously expected.”

The economy grew by a weaker-than-expected 5.6% in 2023, slower than the 7.6% expansion in 2022 and short of the 6-7% government goal.

Household consumption typically accounts for three-fourths of the Philippine economy. Last year, household spending expanded by 5.6%, much slower than 8.3% in 2022.

Meanwhile, Moody’s Ratings sees inflation averaging 3.8% this year, higher than the Bangko Sentral ng Pilipinas’ (BSP) 3.6% full-year forecast but within the 2-4% target.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that strong household consumption alone can help the Philippine economy grow stronger than what Moody’s Ratings projected for 2024 and 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.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Delivery rider arrested for extorting money from motorist while posing as a traffic enforcer

April 12, 2024April 2, 2024carlocarrasco

Recently in the City of Manila, a delivery rider who disguised himself as a traffic enforcer flagged down a motorist and extorted money which eventually led to his arrest, according to a Manila Bulletin news report. The suspect has been charged for robbery extortion and the usurpation of authority.

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

A delivery rider posing as a traffic enforcer was arrested after he flagged down a motorist to extort money.

The Manila Police District (MPD) identified the suspect as Lloyd Tolentino, 27, resident of Barangay Kaunlaran, Navotas City.

According to the police report, the 43-year-old victim Reagan Ramos was traveling along Pedro Bukaneg Street corner Roxas Boulevard in Malate, Manila on Sunday night, March 31.

He said he was flagged down by the suspect, who was wearing a Manila Traffic and Parking Bureau uniform, and introduced himself as a traffic enforcer.

The suspect asked for the victim’s driver’s license for a traffic violation (swerving), but the victim contested.

The victim became suspicious when the suspect demanded P200 in exchange for not being issued a traffic violation ticket. Police said the victim immediately reported the incident to authorities that led in the arrest of the suspect.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you concerned that there could be more abusive delivery riders around Metro Manila who could be committing the usurpation of authority and extort money from motorists?

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 sees stronger Philippine economic growth in 2025

April 11, 2024April 2, 2024carlocarrasco

Recently the World Bank (WB) revealed its forecast of stronger economic growth for the Philippines in the year 2025 although still below the projections of the government, according to a BusinessWorld news report.

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

THE WORLD BANK (WB) maintained its economic growth forecast for the Philippines this year but raised its 2025 growth projection, amid expectations of higher consumer spending and foreign investments.

In its latest East Asia and Pacific (EAP) Economic Update, the World Bank said it expects Philippine gross domestic product (GDP) to grow by 5.8% this year, the fastest in Southeast Asia along with Cambodia.

The Philippines and Cambodia are seen to expand faster than Vietnam (5.5%), Indonesia (4.9%), Malaysia (4.3%), Lao People’s Democratic Republic (4.0%), Timor-Leste (3.6%), Thailand (2.8%) and Myanmar (1.3%).

For 2025, the World Bank raised its GDP forecast for the Philippines to 5.9% from 5.8%.

However, the World Bank’s growth forecasts for the Philippines are lower than the government’s target of 6.5-7.5% for 2024 and 6.5-8% for 2025 to 2028.

“What has sustained growth in the Philippines, like much of the region, has been consumption and the recovery in services,” WB East Asia and Pacific Chief Economist Aaditya Mattoo said at a virtual briefing on Monday.

He noted foreign investment flows into the Philippines might increase after the government implemented significant reforms such as Republic Act No. 11659 or the Public Service Act, which allows full foreign ownership in key sectors such as telecommunications and airlines.

“(The reforms) should begin to pay off in terms of greater foreign investment, which though in the short run… the flows have been less strong than we would have expected,” Mr. Mattoo said.

Climate and geopolitical shocks, as well as elevated inflation and high interest rates are risks to the growth outlook.

“If there is a resurgence in inflation, for example in the United States, which might well see interest rates even higher for longer, that would certainly affect growth throughout the region as we have estimated,” he said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippine economy can grow stronger than the forecast of the World Bank for 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.

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Philippine exports of goods and services surpassed $100 billion in 2023

April 11, 2024April 2, 2024carlocarrasco

For the year 2023, Philippine exports of good and services reached over $100 billion based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), according to a Philippine News Agency (PNA). By comparison, less than $100 billion was achieved in 2022.

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

Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade.

The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), exports of goods and services reached USD103.6 billion. This is higher by 4.8 percent from the total exports of USD98.8 billion in 2022.

DTI Secretary Alfredo Pascual said this is the first time the Philippines breached the USD100-billion mark in export revenues.

Pascual said the strong exports last year was driven by services, especially the information technology and business process management (ITBPM) and tourism services.

Services exports rose 17.4 percent in 2023 to USD48.29 billion from USD41.12 billion in 2022.

According to the Information Technology and Business Process Association of the Philippines, ITBPM revenues last year stood at USD35.5 billion, while government data showed that travel services reached USD9.1 billion last year.

On the other hand, exports of goods last year declined by 4.1 percent to USD55.32 billion from USD57.71 billion in 2022.

The country’s top goods export alone, electronics, decreased by 3.4 percent or USD955 million in 2023 compared to its previous year.

“This decline highlights the importance of diversifying export portfolios and enhancing competitiveness in key sectors,” the DTI said.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations. Our guideline is the Philippine Export Development Plan (PEDP) 2023-2028, which aims to address constraints to production, diversify and improve access to markets, and develop a strong and innovative export ecosystem,” Pascual said.

However, export revenues last year were USD23.2 billion away from the PEDP target of USD126.8 billion for 2023.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” the DTI chief added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines can achieve at least $100 billion worth of export revenue this year?

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

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Las Piñas City Vice Mayor reviews and approves Green Card applications

April 9, 2024April 1, 2024carlocarrasco

Recently in the City of Las Piñas, Vice Mayor April Aguilar took the time to personally review and approve the local residents’ applications for the Green Card program, according to the City Government’s social media post of March 30, 2024.

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

City Vice Mayor April Aguilar on Thursday, March 21st reviewed and approved several Green Card applications from local residents. This action underscores the city’s initiative to provide essential healthcare benefits to its citizens through the health subsidy program.

The Green Card program, established by the late Mayor Nene Aguilar, was created to provide healthcare benefits to residents. It represents a lasting legacy of his dedication to improving health access for all citizens.

To know more about the benefits and relevance of the Green Card, click here, here and here.

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? Were there lots of people in your local community who applied for the city’s Green Card?

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

Electric bike (e-bike) driver hits elderly woman who eventually died

April 9, 2024April 6, 2024carlocarrasco

Recently in the City of Marikina, an elderly woman died shortly after getting hit by an electric bike (e-bike) while crossing the road which was captured on CCTV, according to a GMA Network news report. The e-bike driver, who is now under the custody of the local police, has been charged for reckless imprudence resulting in homicide. The victim was 73-years-old.

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

A grandmother in Marikina was killed after being hit by an electric bicycle or e-bike.

According to Marisol Abduhraman’s report on “24 Oras,” the victim was not immediately brought to the hospital, her family claimed.

As seen on the CCTV footage, after the woman opened her umbrella, she started crossing the road. But while crossing, an electric bicycle hit her.

The woman fell down and was immediately approached by bystanders and the e-bike rider.

The 73-year-old Luzviminda Bisares was declared dead when she was taken to the hospital.

“Hindi ako makapaniwala bakit niya po binangga at sinagasaan po ang lola ko na nagtamo ng brain injury and putol po ang braso niya,” said the victim’s granddaughter, Samantha Bisarez.

(I can’t believe why he hit my grandmother causing her to suffer from brain injury, her arm was broken.)

She added that it was impossible for the rider not to notice her grandmother, especially since she was carrying an open umbrella.

“Sabi niya may tinitingnan daw siya sa bulsa niya pero nasa CCTV at lahat noong tao doon nakita na nagse-cellphone po siya while driving,” said Samantha.

(He said he was looking at something in his pocket but it was seen on CCTV and everyone there saw that he was using his cell phone while driving.)

“Sabihin na nating aksidente pero bakit mo hinayaang manlamig, lumamig ‘yung lola ko. Bakit hindi ka nag-insist na ipagamot yung lola ko o ipadala sa ospital? Para sana madugtungan pa ‘yung buhay niya?” she added.

(Let’s say it was an accident but why didn’t you insist on bringing my grandmother to the hospital so she could be treated?)

The rider explained that he did not immediately take the grandmother to the hospital because he was panicking.

“Malapit na po ako sa bahay nila tapos nandun po kami papasok sa eskinita nahilo po s’ya kaya pinaupo ko po muna s’ya saglit. Hindi na po kami umabot kasi nahilo po s’ya inupo ko po sya dun,” the suspect said.

(We were nearing their house, we were entering the alley…she felt dizzy so I made her sit for a while. We didn’t get there because she was dizzy, so I let her sir first.)

He said a man arrived from the alley and took the grandmother to the hospital. The suspect said he regretted what happened and said he did not mean to kill her.

“Masakit po sa dibdib, sympre po hindi ko naman po sinasadya yung nangyari. Sobrang naging bangungot. Sana po patawarin ako ng pamilya n’ya,” he said.

(It’s painful. What happened was not intentional. It was a nightmare. I hope her family will forgive me.)

But his apology was not enough for the pain of the grieving family.

Posted below is the related news video of GMA Network.

Indeed, what happened in Marikina City was a tragedy and it took place at a time when the start of the declared ban on electric bikes (e-bikes) and electric tricycles (e-trikes) on major roads of Metro Manila was nearing (April 15, 2024). That being said, e-bikes and e-trikes are very much in people’s minds and already there have been several cases of reckless driving, careless driving, close calls and accidents involving the said electric vehicles captured on video.

This tragedy in Marikina City reported nationwide by GMA News adds further challenges to e-bike and e-trike drivers/owners as it could spark public demand that each e-bike and e-trike should be registered with the Land Transportation Office (LTO) and that all the respective drivers should be required to secure licenses to drive (which means participating in seminars about traffic rules and then passing a test).

As for those private or civic groups that blatantly support the rights of e-bike/e-trike drivers, observe how they will react to the Marikina City tragedy. See how they will come up with excuses as they strive to gain the attention of the media to themselves.

A file photo of an electric tricycle (e-trike) traveling along Alabang-Zapote Road in Muntinlupa City. In relation to the tragedy in Marikina City, do you think it is high-time to compel all e-bike/e-trike drivers to be licensed to drive and have their respective vehicles registered under the Land Transportation Office (LTO)?

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think it is time to require all e-bike and e-trike units to be formally registered under the LTO, and the respective drivers should be required to be licensed to drive? Regarding the e-bike driver responsible for the death of the elderly woman in Marikina City, do you think his explanations make any sense at all? Are there many e-bike/e-trike-related accidents that happened in your city recently? Did you see any e-bike/e-trike using driving recklessly recently?

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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Cop arrested for shooting motorcycle rider in Parañaque City, suspect denies allegations

April 9, 2024April 1, 2024carlocarrasco

Recently in the City of Parañaque, a police officer was apprehended for shooting dead a motorcycle rider in Barangay San Dionisio, according to a GMA Network news report. The incident happened during Holy Week and the suspect (currently in jail) denied the allegations against him.

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

A police officer who is an active member of the mobile unit of the Philippine National Police-Aviation Security Group was arrested for allegedly shooting a motorcycle rider in Barangay San Dionisio, Parañaque.

According to Mariz Umali’s Saturday 24 Oras Weekend report, 27-year-old Neil Wong was shot dead at around 6:40 a.m. He was seen by a witness talking to the suspect before the attack.

“Nakita ko nang bumagsak na po yung biktima. Tapos sinisigawan ko na yung suspect, sabi ko ‘Huy!’” said the witness.

(I saw the victim fall. Then, I shouted at the suspect, I said ‘Huy!’)

According to the Parañaque Police, the suspect attempted to steal the victim’s motorcycle but ran after it failed to start and was arrested by a passing police patrol.

Taken from the suspect were his service firearm, bullets, and two of the victim’s mobile phones.

“Ang motibo na nakikita namin dito yung robbery,” said Parañaque Police Investigation Chief Police Captain Melvin Garcia.

(The motive that we’re seeing is robbery.)

The victim may also have been in the area because his motorcycle broke down.

Meanwhile, the suspect denied the allegations.

“Bigla niya kong binato out of nowhere. Kala ko di niya sinasadya. Tapos maya-maya bigla niya ko minura. Kaya ko yun nagawa sa kanya, yung binaril ko siya. Humihingi ako ng tawad sa lahat ng kaanak, sa mga magulang at saka sa mga mahal niya sa buhay,” the suspect said.

(He suddenly threw something at me out of nowhere. I thought he didn’t mean it, but later he suddenly cursed at me. That’s why I did it, shooting him. I’m asking for forgiveness from all his relatives, parents, and his loved ones)

Let me end this piece by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that motorcycle robberies could happen near your local community? Do you think the suspect is telling the truth?

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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Two CPP-NPA members charged for financing terrorism

April 8, 2024March 27, 2024carlocarrasco

Two members of the Communist Party of the Philippines/New People’s Army (CPP-NPA) were charged for financing terrorism and the Department of Justice (DOJ) claims it found compelling evidence against the suspects, according to a Philippine News Agency (PNA) news article.

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

The Department of Justice (DOJ) on Wednesday said it found compelling evidence to indict two members of the Communist Party of the Philippines/New People’s Army (CPP-NPA) responsible for collecting revolutionary funds and financing terrorism.

Following information gathered by the Philippine National Police–Criminal Investigation and Detection Group (PNP-CIDG), accused Leonor Taguinod Dumlao and Valentin Cruz Tolentino will be charged with violation of Section 8 of R.A. No. 10168, known as “The Terrorism Financing Prevention and Suppression Act of 2012.”

The charges will be filed before the Batangas City regional trial court, the DOJ said in a statement.

The two were originally arrested under Oplan Paglalansag in Mindoro Oriental and Rizal in August 2023.

According to reports, the two accused possessed firearms and ammunition with no definite source of income or apparent purpose, prompting authorities to initiate background checks and collaborate with intelligence counterparts from the National Bureau of Investigation (NBI) and Intelligence Service of the Armed Forces of the Philippines (ISAFP) to ask the court’s issuance of search warrants against the two.

Authorities discovered firearms, ammunition, improvised explosive devices (IEDs), IED components, and a significant sum of money.

Dumlao and Tolentino, the DOJ said, are alleged members of the National Finance Commission (NFC) of the CPP/NPA which had direct involvement in demanding money from construction firms, telecommunication companies, bus companies, mining companies, and businessmen in the guise of “revolutionary taxes.”

The two were also allegedly responsible for the creation of the National Economic Striking Force (NESF) of the CPP/NPA, which serves as security of the “Rebolusyonaryong Buwis sa Kaaway na Uri” or the RBKU.

“We will never let even an inch of terrorism’s tyranny sow fear among our citizens, much more let the cowards behind this menace run free. This is a time when we Filipinos should fortify our resolve and show our resilience in fighting this evil,” Justice Secretary Jesus Crispin Remulla said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there are several Communists here in the Philippines who are secretly financing terrorism, smuggling weapons and plotting chaos? Do you think the young leftist activists living in your local community could secretly be agents of the CPP/NPA?

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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Scammers who pretended to be DBM personnel arrested by NBI

April 8, 2024March 27, 2024carlocarrasco

Here in the Philippines, scammers are almost everywhere. There are scammers who will send you direct electronic messages or call you with offers of job openings, promos, investment opportunities, subscriptions and the like. What caught my attention was the National Bureau of Investigation’s (NBI) recent apprehension of scammers who posed as personnel of the Department of Budget and Management (DBM), according to a news article published 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…

Operatives of the National Bureau of Investigation (NBI) arrested on Tuesday eight individuals pretending to be officials and employees of the Department of Budget and Management (DBM) in an entrapment operation in Mandaluyong City.

The DBM, in a news release Wednesday, said one of the suspects introduced herself to the complainant as an Undersecretary of the DBM supposedly in charge of the agency’s “special projects.”

The scammers promised the complainant, who is a project contractor, access to some PHP1.3 billion worth of government projects involving the construction of a dam.

The suspects assured the complainant that the project will be awarded to her once “grease money” was provided for the project’s “Blue Print” to initiate the processing of documents for the project award.

The illicit activity was uncovered after the contractor conducted an initial verification with the DBM.

After receiving and accommodating the complaint, the DBM sought the help of the NBI to carry out an entrapment operation where the suspects were arrested after accepting the PHP500,000 marked money.

“Mariin po nating kinokondena ang ganitong klaseng gawain. May proseso po tayong sinusunod na naaayon sa mga umiiral na batas (We strongly condemn this kind of activity. We have a process that is consistent with existing laws),” Budget Secretary Mina Pangandaman said.

She said the DBM is hoping that the incident will “send a strong statement to the public” that it will never tolerate fraudulent activities.

“Seryoso po ang DBM sa paglaban sa katiwalian gaya po ng ganitong mga gawain. Kaya naman po hinihikayat ko po ang taumbayan na agad magsumbong at i-report kung may mga mae-encounter sila na ganitong mga indibidwal (The DBM is serious about fighting corruption. That’s why I encourage the people to immediately report if they encounter scrupulous individuals),” Pangandaman added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you concerned that there could be a lot more scammers out there pretending to be representatives or officials of government departments or corporations trying to deceive people over their money? Have you been scammed before?

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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Tourist spots in New Bilibid Prison?

April 5, 2024March 26, 2024carlocarrasco

If plans between the different authorities indeed push through, then it would mean that tourist spots inside the New Bilibid Prison (NBP) in Muntinlupa City will be realized, according to a 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…

Plans are afoot to convert historical sites inside the New Bilibid Prison (NBP) in Muntinlupa into possible tourist sites following a Monday meeting between Bureau of Corrections (BuCor) Director General Gregorio Pio P. Catapang Jr. and Muntinlupa City Mayor Rozzano Rufino B. Biazon.

During the meeting attended by officials from BuCor, the Department of Justice, and the city government, Catapang assured his full support to revive the Muntinlupa’s economy through tourism, the BuCor said in a statement on Tuesday.

Included in the circuit tours inside the NBP being eyed by the Muntinlupa City Tourism Culture and Arts Department are: Kiyosi Oshawa Shrine / Memorial for Peace Shrine; the Jamboree Lake, the smallest lake in the Philippines; Director’s Quarters – Presently the official residence of the Bureau of Corrections Director General; Lethal injection and Death Chamber, which has since been mothballed following the suspension of the death penalty; Japanese Cemetery, a garden cemetery located inside the NBP Reservation Compound dedicated to the Japanese Soldiers who died in Muntinlupa; Memorial Hill, the burial place of Major Eriberto B. Misa Sr. which served as a tribute to the former Bureau of Prison Director for his 12 years of service, making him the longest-serving prison director up to this date.

The government earlier announced plans to decongest the overpopulated penal facility and convert it into a high-value multi-use development once the inmates are relocated to other facilities throughout the country by 2028.

In November last year, prison officials said an open park at the heart of Metro Manila similar to Central Park in New York, is among the components of the plan by the BuCor to develop the NBP.

Catapang said that Justice Secretary Crispin Remulla’s vision for the property is to turn a 100-hectare lot of the more than 350 hectares of NBP into an open park, while the remaining area will be for a mixed-use space to house a government center, and lease parts to private entities to generate funds for the national government.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you see any potential benefit of establishing tourist spots inside the NBP?

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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