Southeast Asia – Page 71 – Author Carlo Carrasco

Philippines achieved double-digit tax collection growth in first 9 months of 2024

October 23, 2024October 11, 2024carlocarrasco

Recently the Department of Finance (DOF) announced that the Philippines achieved double-digit growth in the January-September stretch of 2024, according to a Manila Bulletin business news report.

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

The Department of Finance (DOF) reported that collections from the government’s two main tax agencies showed strong double-digit growth in the first nine months of the year.

The Bureau of Internal Revenue (BIR) and the Bureau of Customs collectively gathered P2.771 trillion from January to September 2024, a 10 percent increase from P2.518 trillion in the same period last year.

Of this total, the BIR, which is responsible for nearly 70 percent of the government’s annual revenue, collected P2.08 trillion by the end of September—a 12 percent increase compared to P1.858 trillion the previous year.

This nine-month collection accounted for 73 percent of the BIR’s full-year target of P2.842 trillion.

In contrast, the Customs bureau raised P690.8 billion as of September, a modest 4.6 percent increase from P660.39 billion in the previous year. This amount represents 73.5 percent of its annual target of P939.7 billion.

In May, the Development Budget Coordination Committee (DBCC) revised its tax collection projections for the BIR and Customs downward, citing expectations of slower economic growth this year.

According to the DBCC’s 2024 Quarterly Fiscal Program, approved on May 23, the BIR and Customs are now expected to collect P3.788 trillion this year, a reduction of 5.6 percent from the original target of P4.014 trillion.

The BIR’s full-year collection target was adjusted down by 6.7 percent from the previous goal of P3.055 trillion, while the Customs bureau’s target was lowered by 2 percent from the earlier estimate of P959 billion.

Budget Secretary Amenah F. Pangandaman, who chairs the DBCC, explained to the Manila Bulletin that these adjustments were primarily driven by a lower-than-expected economic growth outlook, among other factors.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the BIR will be able to collect P3 trillion by the end of the year? Do you think the recent tax collection reports suggest that the national economy will grow stronger in the next two years?

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

World Bank (WB) sees strong Philippine economic growth in 2024 and 2025

October 22, 2024October 11, 2024carlocarrasco

By citing positive factors in its latest report, the World Bank (WB) raised its Philippine economic growth forecasts for 2024 and 2025, 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) has raised its economic growth forecasts for the Philippines for this year and in 2025, driven by improved service exports and public investments.

But weak consumption and investment will keep the country’s growth below pre-pandemic levels, it said.

In its East Asia and Pacific Economic Update, the Washington-based multilateral lender now expects the Philippine economy to grow by 6% this year from 5.8%.

The Philippines could become the second-fastest growing economy in Southeast Asia, behind Vietnam (6.1%) and ahead of Cambodia (5.3%), Indonesia (5%), Malaysia (4.9%), Laos (4.1%), Timor-Leste (3%), Thailand (2.4%) and Myanmar (1%).

“Among the larger countries, only Indonesia is expected to grow in 2024 and 2025 above pre-pandemic levels, while growth in Malaysia, the Philippines, Thailand and Vietnam is expected to be below those levels,” the World Bank said.

For 2025, it forecasts Philippine economic output to expand by 6.1% from 5.9% in its April forecast.

The lender’s growth forecasts for the Philippines are at the low end of the government’s target of 6-7% for 2024 and below the 6.5-7.5% goal for next year.

The Philippine economy grew by 6.3% in the second quarter, faster than 5.8% in the previous quarter and 4.3% a year ago. In the first half, growth averaged 6%.

The World Bank said service exports and public investment have supported Philippine economic growth, but consumption and private investment remain weak.

From 2024 to 2026, the lender expects the Philippine economy to grow by an average of 6%, it said in a separate report.

This will be supported by remittances, jobs, slower inflation and external demand. However, weaker growth in China, global economic slowdown and weather disruptions are risks to the outlook.

It also projects the government’s budget deficit to fall to 4.6% of gross domestic product (GDP) by 2026 due to improved state spending. This is slightly below the 4.73% target for the year.

Better revenue collection will be supported by key tax measures, improved tax administration and higher dividends from state-owned corporations, the World Bank said.

The lender also raised this year’s growth forecast for the East Asia-Pacific region to 4.8% from 4.5% in April.

“Most East Asia-Pacific economies are expected to experience robust growth in 2024, supported by private consumption and a positive external environment,” according to the report. In 2025, the region is expected to grow by 4.4% from its previous forecast of 4.3%.

However, domestic demand is expected to moderate in the Philippines, Indonesia and Thailand, while private investment growth remains weak across the region.

“Investment growth has been declining across most countries in the region over the past two decades, with particularly sharp drops in China, Indonesia, Malaysia, and more recently, the Philippines.”

It also noted that the Philippines and Malaysia have kept a conservative fiscal stance due to their higher structural deficit this year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines has enough momentum to exceed the WB’s economic growth forecasts 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.

+++++

377 families graduate from Muntinlupa City’s Pantawid Pamilyang Pilipino Program (4Ps)

October 22, 2024October 14, 2024carlocarrasco

Recently in the progressive City of Muntinlupa, three hundred and seventy-seven families (377) graduated from the local Pantawid Pamilyang Pilipino Program (4Ps), according to a Manila Bulletin news report.

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

A total of 377 families graduated from the Pantawid Pamilyang Pilipino Program (4Ps) in Muntinlupa.

4Ps is the Philippine government’s “national poverty reduction strategy and human capital investment program that provides conditional cash transfer to poor households for a maximum period of seven (7) years, to improve health, nutrition and education,” according to the Department of Social Welfare and Development (DSWD).

The beneficiaries of 4Ps “are households that: are classified as poor and near-poor based on the Standardized Targeting System and the poverty threshold issued by the Philippine Statistics Authority (PSA) at the time of selection.”

The DSWD led the Pugay Tagumpay Graduation Day attended by Muntinlupa Mayor Ruffy Biazon where the families were recognized.

“Sabi nga nila, walang forever, at mas maganda talaga na walang forever pagdating sa pagtanggap ng tulong mula sa gobyerno (As they say, there is no forever, and it’s better that there is no forever when it comes to receiving assistance from the government),” said Biazon.

He said 4Ps can be seen not only as a chance to get financial assistance from the government but to learn life lessons including saving, budgeting and prioritizing needs.

“Ayaw natin na umaasa lang ang mga tao sa gobyerno (We don’t want people to rely solely on the government); we want every family to be self-sustaining,” the mayor added.

“The City Government will continue to support Muntinlupeño families, especially in the education of your children. Congratulations to all the graduates! Patuloy tayong magsikap para sa mas maliwanag na kinabukasan! (Let’s continue to strive for a brighter future),” he added.

According to the Muntinlupa City government, the graduation from 4Ps meant that a family is now out of poverty and has the capability to become self-sufficient.

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 know any family in your local community that needs to get enrolled in the local 4Ps program? How many families in your local community were among the 377 graduates?

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

International nuclear supply chain forum set for November 13-15, 2024 in Quezon City

October 21, 2024October 9, 2024carlocarrasco

In what could be a boost for a nuclear-powered Philippines, the Department of Energy (DOE) is officially hosting the Philippine International Nuclear Supply Chain Forum (PINSCF) which will take place in Quezon City from November 13 to 15, 2024, 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…

Eyeing to lead Southeast Asia in deploying nuclear energy technology, the Department of Energy (DOE) will host the Philippine International Nuclear Supply Chain Forum (PINSCF) from Nov. 13 to 15.

Happening at Solaire Resort North in Quezon City, the PINSCF will gather local and foreign stakeholders to discuss the latest technology and innovations, as well as share best practices in the nuclear energy industry.

Expected participants in the forum are power generation companies, government agencies, embassies, academia, and other key sectors.

“We are bringing together companies from countries with proven track records in building and maintaining the critical infrastructure needed by the energy sector. This forum will showcase their innovations and best practices, offering the Philippines the opportunity to learn and benefit from their experiences,” the DOE said in a statement Wednesday.

Stakeholders from the United States, Canada, France, Japan, and South Korea, which are among the leading countries in nuclear technology, will provide insights for the Philippines as the government explores nuclear energy for a balanced, resilient, and low-carbon energy system to drive sustainable economic growth.

“As the world transitions away from fossil fuels, each nation is weighing options for achieving energy independence and security. This forum allows us to engage with the global community while ensuring that our own stakeholders are part of the discussions,” the DOE said.

Interested participants should register through http://www.nuclearforumph.com. For more information, participants may contact the Nuclear Energy Program Secretariat via email address nep-iac.secretariat@gmail.com.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you wish to see the entire nation powered by nuclear energy using the latest power-generating technologies found in nuclear-powered small modular reactors (SMRs) and microreactors? Do you realize that nuclear power is more capable on providing the nation abundant energy better than the unreliable solar and wind power?

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

+++++

Karate instructor arrested in Manila for robbing a house in Parañaque, illegal possession of firearms and other violations

October 20, 2024October 13, 2024carlocarrasco

Recently a man who taught karate lessons as a profession was arrested by the police in the City of Manila for breaking into a house in Parañaque City and robbing it, according to a Manila Bulletin news report. The police responded to the complaint of the Parañaque resident who was robbed.

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

Members of the Parañaque City Police arrested a karate instructor after breaking into and robbing a house in Barangay Tambo on Saturday, October 12.

The Southern Police District (SPD) immediately conducted an operation against the armed suspect identified as “Davy” following a robbery complaint filed against him by his victim.

According to the police investigation, the suspect suddenly entered the victim’s house at gunpoint and stole a gadget, an iPhone, and cash amounting to P5,000.

SPD Director Brig. Gen. Bernard Yang said police officers were able to track and arrest the suspect using a global positioning system (GPS) from the victim’s stolen mobile phone in Sta. Cruz, Manila.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, did you notice a rise of house break-ins and robbery in your local community over the past sixty days?

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

+++++

Two men arrested during Parañaque City buy-bust operation, P680K worth of illegal substances confiscated

October 19, 2024October 11, 2024carlocarrasco

Recently in the City of Parañaque, two men got arrested as a result of a successful buy-bust operation in Barangay San Dionisio, according to a Manila Bulletin news report. Seized from them was almost P700,000 worth of illegal drugs.

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

Around P680,000 worth of shabu was confiscated from two drug suspects during a buy-bust operation in Barangay San Dionisio, Parañaque City on Thursday, October 10.

Members of the Parañaque City Police Station Drug Enforcement Unit (SDEU) identified the suspects as “Hadji” and “Ben.”

Authorities conducted the operation following the complaints against the suspects for their illegal drug activities around their community.

The confiscated drug evidence, which was around 100 grams, was turned over to the Southern Police District Forensic Unit.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, do you consider the smuggling and trading of illegal drugs serious problems of the city? Do you think the secretive trading of illegal drugs has been happening in your local community?

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

+++++

Chinese national arrested in Parañaque City for illegal possession of firearm, grave threat and gun ban violation

October 19, 2024October 18, 2024carlocarrasco

Recently in the city of Parañaque, an armed Chinese national was arrested by the local police for illegally possessing a firearm, committing grave threat and violating the gun ban, according to a Manila Bulletin news report. The suspect had an intense argument with a fellow Chinese national.

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

A Chinese national was arrested for allegedly pointing a gun at his friend during a heated arguement in Parañaque City on Wednesday night, October 16.

The Southern Police District (SPD) identified the suspect as “Liu,”32. Liu was arrested at around 8:10 p.m. near a hotel in Barangay Don Galo, Parañaque City.

Based on the police investigation, the suspect had a heated argument with his compatriot identified as “Fang” while inside a vehicle driven by “Mark.”

Mark reportedly stopped the vehicle and sought assistance to some bystanders. Luckily, officers from the Parañaque Police Station Investigation and Detective Management Unit (SIDMU) who were conducting an operation near the area heard the commotion and responded to it.

Upon arrival, the officers witnessed Fang and Mark who had already subdued the suspect and were able to get hold of a pistol which Liu allegedly pointed to Fang.

Police recovered the .9mm pistol with five live ammunition from the suspect who failed to show any documents on the firearm.

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 still a lot more Chinese nationals living in the city who could cause trouble? Have you been wondering how Chinese nationals are able to get hold of guns?

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

+++++

Antonio P. Antonio episode of Dark Asia with Megan surpasses 100,000 YouTube views worldwide

October 18, 2024October 17, 2024carlocarrasco

Dark Asia with Megan – the YouTube channel that specializes on true crime stories that happened around Asia – released on September 25, 2024 an episode focused on the story of the late Antonio P. Antonio who was killed by his own son Nelson in 2013.

Just yesterday, the said Dark Asia with Megan episode gathered over 100,000 views worldwide as well an estimated 3,500 likes. It should be noted that it took less than 30 days for the Antonio P. Antonio episode to surpass the 100,000 views mark. That being said, I posted below for your convenience the YouTube video. I encourage you all to watch it from start to finish.

For the newcomers reading this, the late Antonio P. Antonio (APA) was one of the most notable residents of BF Homes subdivision which is so large it occupies parts of the cities of Parañaque, Las Piñas and Muntinlupa. Antonio was also a president of the United BF Homesowners Association, Inc. (UBFHAI) and in the world of business, he was very successful tycoon. For my past blogs about Antonio P. Antonio and his family, click here, here, here and here.

Regarding Dark Asia with Megan, I encourage you to visit the YouTube channel by clicking https://www.youtube.com/@DarkAsiawithMegan. The YouTuber has almost 550,000 subscribers worldwide as of this writing.

For more updates, follow Justice for APA at https://www.facebook.com/JusticeforAPA

+++++

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

Further rate cuts by BSP could boost demand for condominium units and new residential projects in Metro Manila

October 18, 2024October 10, 2024carlocarrasco

Here in Metro Manila, there is currently an oversupply of condominium units. Further rate cuts by the Bangko Sentral ng Pilipinas (BSP) could boost demand for existing condominium units and also new residential projects within the metropolis, according to a BusinessWorld news report.

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

FURTHER RATE CUTS by the Philippine central bank could help spur new residential project launches and drive take-up of existing condominiums in Metro Manila, a property consultant said.

In its third-quarter property market report, Leechiu Property Consultants (LPC) said the inventory level of condominium units in Metro Manila has reached 67,600 units across 510 buildings — “the highest since the pandemic.”

“It’s an oversupply of the buildings in the market at 29 months’ supply. (Developers) have been slowly launching new projects,” LPC Research Director Roy Amado Golez said at a briefing on Oct. 8.

Quezon City and Ortigas (plus fringe areas) have the most number of unsold condominium units at 18,000 and 13,500, respectively.

High interest rates may have dampened demand for residential condominiums in Metro Manila. LPC said 6,885 units were sold in the July-to-September period, “close to the 7,000 level for the third straight quarter.”

The Bangko Sentral ng Pilipinas (BSP) had kept its policy rate at an over 17-year high of 6.5% from October 2023 to mid-August 2024. It reduced the benchmark rate to 6.25% at its Aug. 15 meeting.

“The interest rate levels today are still at elevated levels, at 6.25%. However, we’ll be likely seeing rate cuts in October as well as December. Hopefully, those rate cuts will boost… the residential market,” Mr. Golez said.

BSP Governor Eli M. Remolona, Jr. earlier signaled the Monetary Board could deliver two 25-basis-point (bp) rate cuts at each of its two remaining meetings this year.

LPC said rate cuts would help ease lending conditions for both developers and homebuyers, as well as encourage developers to launch new projects.

Muted demand may have prompted developers to defer new residential projects. New project launches plunged by 39% to 2,145 units in the quarter ending September, which LPC said was the lowest since the pandemic.

“What developers are most likely doing now is reselling or re-launching or reintroducing marketing programs for their current inventory,” Mr. Golez said, adding that lower interest rates may provide a lift to sales in the next few quarters.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the BSP should reduce the rates soon so that the residential market of Metro Manila will be reinvigorated? Are there any families in your local community who intend to buy a condominium unit and live in it?

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

+++++

Do NOT buy electric vehicles

October 17, 2024October 9, 2024carlocarrasco

If you value your family, your personal safety and if also you have a lot of financial ends to meet, then you must avoid buying electric vehicles (EVs). With so many woke people, climate change extremists and Silicon Valley believers around the world, there is a sinister collective moment to deceive people into buying EVs – especially electric cars for personal/family use – while also campaigning to have combustion engines and fossil fuels banned. These Satanic Leftists are even conspiring with technology developers, government officials and electric vehicle manufacturers to manipulate people into owning EVs.

Of course, that sinister pro-EVs movement DOES NOT CARE about your personal safety and your family at all. They do not want you to realize that electric cars are not only very flawed and disadvantageous….the EVs can also kill you and destroy properties and harm entire communities.

To put things in perspective, watch the selected videos posted below. I encourage you to take time to watch each of them from start to finish and take notes about the key details.

There is also one particular issue that electric vehicle fanatics do not want to talk about and prefer to ignore…the number of deaths caused by electric cars that have gone wrong. Watch the video below.

And then there are also electric bikes (e-bikes) and electric scooters (e-scooters) that cause fire. Watch the selected videos below.

The radicalized believers of EVs do not want you to realize the truth and the facts that electric cars (the most commercially available EV in the market) could spark into a fire hazard that will take so much effort to put out. Imagine yourself getting trapped inside the electric car as it shorts and burst into flames which could kill you and your companions. Electric cars are also very expensive to repair and the number of public electric chargers are still not so many. E-bikes and e-scooters, as seen above, are also dangerous to have.

Let me end this piece by asking you readers: Did you encounter people who tried to fool you into buying an electric car or an electric bike? Are the electric vehicle manufacturers honest and transparent when they try to sell EVs to you? Right now, do you prefer to buy an electric car or a car that runs on fossil fuel?

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: