Malacanang welcomes World Bank report on Philippine economy
Malacanang welcomed the report of the World Bank (WB) saying that the prospects for the Philippine economy remain favorable in 2011 as investments, private consumption and the services sector are expected to strengthen.
“The World Bank report acknowledges that the economic fundamentals of the Philippines have significantly improved from where they were a few years ago,” said Presidential Spokesperson Edwin Lacierda in a statement Thursday.
Lacierda said the report recognizes the significance of the reforms undertaken by the Aquino administration, and how these measures provide stability as we pursue inclusive growth.” This is another manifestation of the thorough scrutiny of public policies and programs we have undergone, and the positive conclusion arrived at after due diligence and study, he said.
“We are continuing to work to increase the momentum of growth; there are many who still have to tangibly experience the assistance and support of their government,” Lacierda stressed.
According to the Philippines Quarterly Update (PQU) released on July 6 by the World Bank, the prospects for the Philippine economy remain favorable in 2011 as investments, private consumption and the services sector are expected to strengthen.
“The challenge now is sustaining the momentum of reform for achieving inclusive or broad-based growth that benefits the poor,” the report said.
“Prospects on the supply side remain favorable with manufacturing and construction projected to benefit from the end of the trade disruption linked to Japan’s post-disaster reconstruction, as well as the solid growth forecast for the business process outsourcing,” World Bank Senior Economist Eric Le Borgne said.
“Increasing mineral prices will provide incentive to fast track investment and increase production in the mining sector. The strong performance of the services sector in the first quarter is expected to remain robust throughout the year. The agriculture sector is projected to continue being a net contributor to growth,” Le Borgne continued.
In a statement, the PQU maintains its forecast of 5.0 percent gross domestic product growth rate in 2011 and 5.4 percent in 2012. The report, however, said that growth could potentially be higher as the strong focus and early gains of the Aquino administration in tackling corruption and improving the investment climate could boost domestic investment.
“The net exports are projected to recover due to a combination of a technical rebound in exports that were affected by Japan’s earthquake-tsunami-nuclear event combined with a potential boost in exports of goods and services (including labor exports) to Japan as Philippine companies and workers contribute to the reconstruction of affected areas,” said the PQU.
The PQU also noted that private consumption is projected to be buoyed by strong wage growth and employment among relatively well paid and formal sectors like the BPO.
World Bank Country Director Bert Hofman said the Philippines’ recent performance could be a sign of that country’s economy has already become steadier since the worldwide financial crisis.
“The November 2010 upgrading of the country’s sovereign foreign currency rating by Standard and Poor’s and a similar upgrade by Moody’s this June are testaments to this significant improvement,” Hofman said, adding that “the challenge is to ensure that growth is more inclusive or one that all citizens participate in and benefit from.”
The PQU pointed out that in its one year into office, the Aquino government has taken important reforms towards achieving inclusive growth. “Notable reform measures achieved include improving the transparency of the public sector budget and of public financial management to improve governance and launching an ambitious public-private partnership program to address infrastructure bottlenecks as well as help foster the development of inclusive sectors such as tourism,” it said. (PCOO)
Soliman, Luistro, Ona, Baldoz of the Human Development and Poverty Reduction cluster in Cabinet forum
Social Welfare and Development Secretary Dinky Soliman will discuss on Friday (July 8) how the government has intensified the conditional cash transfer program (CCT) in an effort to ease poverty in the country.
Soliman, Education Secretary Armin Luistro, Health Secretary Enrique Ona and Labor and Employment Secretary Rosalinda Baldoz will appear as panelists in a nationally broadcast Cabinet Forum that will be aired live over NBN4 and dzRB from 9 to 10:30 a.m.
Friday’s forum will feature the Cabinet Cluster on Human Development and Poverty Reduction, chaired by Soliman.
This is the second forum under the Pilipinas Natin government program to involve the citizenry in nation-building, particularly in implementing the Philippine Development Plan (PDP) 2011-2016. The PDP was crafted by the National Economic and Development Authority (NEDA) after extensive consultations with stakeholders and the people.
In the first forum last Wednesday, devoted to the Cabinet Cluster on Economic Development, Secretary Sonny Coloma, explained Pilipinas Natin and gave an overview of the PDP. He then explained the Cabinet Clustering along five key result areas – economic development; human development and poverty reduction; climate change adaptation and mitigation; security, justice and peace; and good government and anti-corruption.
In Friday’s forum, Soliman will give an overview of her cluster’s targets in connection with the PDP and the plans to ensure the achievement of the PDP targets.
Later, she will discuss the poverty situation in the country and the implementation of the conditional cash transfer program.
Luistro will also discuss the achievements of the Education Department and the implementation of the K+12 education program.
Ona will discuss the Kalusugang Pangkalahatang program of the Health Department and the government efforts to achieve the United Nations’ Millennium Development Goals (MDGs).
Questions will be fielded to the panelists from media representatives present in the NBN4 studio and from stakeholders from three remote locations in Payatas (Quezon City), San Jose Del Monte (Bulacan) and Eastern Samar. (PCOO)
Aquino government committed towards improving lives of all Filipinos
The government of President Benigno S. Aquino III remains committed to improving the lives of all Filipinos, especially the poor, through the development of plans and programs that will enhance their skill to become productive members of society.
Socio-economic planning Secretary Cayetano Paderanga, Jr. said this commitment is conceptualized in the Philippine Development Plan 2011-2016.
The PDP is anchored on President Benigno S. Aquino III’s 16-point “Social Contract with the Filipino People,” which envisions inclusive growth, or growth that is shared by all, for the country.
Paderanga said during the Pilipinas Natin Forum aired over government radio station on Wednesday that the President wants no Filipino left behind as the country rises to greater heights under his stewardship.
“Nung kampanya pa lang ay mayroon na siyang social contract with the Filipino people. At pinaka-importanteng objective nito ay employment generation, yung pagbibigay ng trabaho sa tao, at poverty reduction,” Paderanga said.
“At ito ay ginagawa natin through inclusive growth kung saan sama-sama tayong umaasenso lahat at walang maiiwan. Ito’y importanteng objective ng ating administrasyon,” he added.
“Kaya kailangan pati yung mga naiiwan sana, yung mga walang kapasidad na sumama sa karakter ng global growth ngayon, kung saan kailangan ng capital, ay kailangan nating tulungan para madala natin silang lahat,” Paderanga said.
President Aquino had earlier authorized the release of P700-million to the Technical Education and Skills Development Authority to beef up the agency’s Training for Work Scholarship Program that aims to equip poor but deserving individuals with the necessary skills to qualify for jobs in “in demand” industries.
These industries, according to Paderanga, include business process outsourcing, tourism, agro-industrial processing and infrastructure, among others. (PCOO)
Government to generate one million jobs to address global labor uncertainties
The Aquino administration targets to generate one million jobs a year to encourage Filipinos to stay in the country in midst of labor instability overseas particularly in the Middle East, a Palace official said on Thursday.
Presidential Communications Operations Office Secretary Sonny Coloma said in a media forum organized by the National Press Club (NPC) that the current thrust of the Aquino government is to make the local economy more vibrant so that jobs will be available locally for the benefit of the Filipino workers.
“Palagi po itong sinasabi ng ating Pangulo: we are creating conditions in the economy para nga po makapag-generate tayo at least one million new jobs every year. Para po ma-arrest na yung trend that was established decades ago na labas nang labas ang ating mga kababayan,” Coloma told the “No Holds Barred” media forum of the NPC.
Few decades ago, the Marcos administration said the deployment of overseas Filipino workers (OFWs) was just temporary as a result of the oil crisis at the time, Coloma said.
But that was 30 years ago and until now OFWs still go abroad to look for greener pastures because of lack of opportunities in the country, he added.
However, he said that globalization is also a factor in this phenomenon, and the government can’t stop Filipino workers seeking jobs abroad that require especial skills.
Because of globalization, Coloma said Filipinos became more marketable so there are still a lot of OFWs working abroad. This is mostly for high-skilled professions, he added.
In the case of the impending policy of Saudi Arabia feared to affect OFWs there, Coloma said it has no immediate impact on Filipino workers at this time. According to Coloma, their Arab employers retained their services and those who were previously deployed weren’t sent home.
He likened the present Saudi Arabia situation to the condition after the Luneta hostage crisis with some people perceiving the incident will result in mass layoffs of OFWs in Hong Kong but that didn’t happen, Coloma said.
The Palace official also made an assurance that concerned government agencies will continue to work to ensure the safety and welfare of Filipinos working in Saudi Arabia adding they are prepared if the new policy affects OFWs.
“Hindi naman po tayo natutulog sa tungkulin natin. We could come up with appropriate contingency measures kung magkakaroon nga po ng wide-spread dislocation,” he said.
In previous interviews, Deputy Presidential spokesperson Abigail Valte said the Palace is confident that there are alternative destinations that can absorb OFWs wanting to go to Saudi Arabia but are affected by the ban.
Valte said the Department of Labor and Employment (DOLE) has programs for displaced OFWs such as Balik-Pinay! Balik-Hanapbuhay! Project, a livelihood training and assistance program for returning Filipino workers.
Saudi authorities announced the new policy called “Saudization” that prioritizes hiring of local workers instead of foreign laborers. Aside from the Philippines, other Asian countries are affected by ban. (PCOO)
Palace assures passage of Freedom of Information Bill
Malacanang made an assurance Thursday for the passage of the Freedom of Information Bill (FOI) in the coming months as the administration finalizes its own version of the proposal.
“We are now in the final stages of completing the administration version and once it is completed, yan po ay isa-submit natin sa Ledac (Legislative-Executive Development Advisory Council) at isa-submit sa ating mga mambabatas so that it can take its due course,” Presidential Communication Operations Office Secretary Herminio “Sonny” Coloma said during the “No Holds Barred” media forum at the National Press Club on Thursday.
Coloma said that it is very reasonable for the measure to be passed within the coming months as the administration finalizes its own version.
There are changing perspectives and the administration as well as the opposition have different views on the issue but the general preference of legislators is to proceed with the measure that they already tackled, Coloma said.
Many provisions of the FOI bill are already included in the existing laws, Coloma said.
Coloma said the overall atmosphere of accountability and transparency in the last 11 months of the Aquino administration has been good, noting that the President has not issued any order barring government officials from attending congressional inquiries like what happened in the past administration.
He also cited the calibrated preemptive response (CPR) carried out by the previous government to quell mass gatherings that threatened the Arroyo leadership.
“Kahit naman wala pang pormal na pagpasa ng FOI ay tanungin natin ang ating mga sarili if we have enjoyed more or reduced accountability,” he said adding that press freedom is an important gauge for the working press.
Legislators failed to muster the quorum required to approve the bicameral conference committee version of the bill last May 24, the last day of the regular session for the 14th Congress.
If passed, the FOI bill would empower not only journalists but also citizens who want to know how public money is spent. (PCOO)
Malacanang welcomed the report of the World Bank (WB) saying that the prospects for the Philippine economy remain favorable in 2011 as investments, private consumption and the services sector are expected to strengthen.
“The World Bank report acknowledges that the economic fundamentals of the Philippines have significantly improved from where they were a few years ago,” said Presidential Spokesperson Edwin Lacierda in a statement Thursday.
Lacierda said the report recognizes the significance of the reforms undertaken by the Aquino administration, and how these measures provide stability as we pursue inclusive growth.” This is another manifestation of the thorough scrutiny of public policies and programs we have undergone, and the positive conclusion arrived at after due diligence and study, he said.
“We are continuing to work to increase the momentum of growth; there are many who still have to tangibly experience the assistance and support of their government,” Lacierda stressed.
According to the Philippines Quarterly Update (PQU) released on July 6 by the World Bank, the prospects for the Philippine economy remain favorable in 2011 as investments, private consumption and the services sector are expected to strengthen.
“The challenge now is sustaining the momentum of reform for achieving inclusive or broad-based growth that benefits the poor,” the report said.
“Prospects on the supply side remain favorable with manufacturing and construction projected to benefit from the end of the trade disruption linked to Japan’s post-disaster reconstruction, as well as the solid growth forecast for the business process outsourcing,” World Bank Senior Economist Eric Le Borgne said.
“Increasing mineral prices will provide incentive to fast track investment and increase production in the mining sector. The strong performance of the services sector in the first quarter is expected to remain robust throughout the year. The agriculture sector is projected to continue being a net contributor to growth,” Le Borgne continued.
In a statement, the PQU maintains its forecast of 5.0 percent gross domestic product growth rate in 2011 and 5.4 percent in 2012. The report, however, said that growth could potentially be higher as the strong focus and early gains of the Aquino administration in tackling corruption and improving the investment climate could boost domestic investment.
“The net exports are projected to recover due to a combination of a technical rebound in exports that were affected by Japan’s earthquake-tsunami-nuclear event combined with a potential boost in exports of goods and services (including labor exports) to Japan as Philippine companies and workers contribute to the reconstruction of affected areas,” said the PQU.
The PQU also noted that private consumption is projected to be buoyed by strong wage growth and employment among relatively well paid and formal sectors like the BPO.
World Bank Country Director Bert Hofman said the Philippines’ recent performance could be a sign of that country’s economy has already become steadier since the worldwide financial crisis.
“The November 2010 upgrading of the country’s sovereign foreign currency rating by Standard and Poor’s and a similar upgrade by Moody’s this June are testaments to this significant improvement,” Hofman said, adding that “the challenge is to ensure that growth is more inclusive or one that all citizens participate in and benefit from.”
The PQU pointed out that in its one year into office, the Aquino government has taken important reforms towards achieving inclusive growth. “Notable reform measures achieved include improving the transparency of the public sector budget and of public financial management to improve governance and launching an ambitious public-private partnership program to address infrastructure bottlenecks as well as help foster the development of inclusive sectors such as tourism,” it said. (PCOO)
Soliman, Luistro, Ona, Baldoz of the Human Development and Poverty Reduction cluster in Cabinet forum
Social Welfare and Development Secretary Dinky Soliman will discuss on Friday (July 8) how the government has intensified the conditional cash transfer program (CCT) in an effort to ease poverty in the country.
Soliman, Education Secretary Armin Luistro, Health Secretary Enrique Ona and Labor and Employment Secretary Rosalinda Baldoz will appear as panelists in a nationally broadcast Cabinet Forum that will be aired live over NBN4 and dzRB from 9 to 10:30 a.m.
Friday’s forum will feature the Cabinet Cluster on Human Development and Poverty Reduction, chaired by Soliman.
This is the second forum under the Pilipinas Natin government program to involve the citizenry in nation-building, particularly in implementing the Philippine Development Plan (PDP) 2011-2016. The PDP was crafted by the National Economic and Development Authority (NEDA) after extensive consultations with stakeholders and the people.
In the first forum last Wednesday, devoted to the Cabinet Cluster on Economic Development, Secretary Sonny Coloma, explained Pilipinas Natin and gave an overview of the PDP. He then explained the Cabinet Clustering along five key result areas – economic development; human development and poverty reduction; climate change adaptation and mitigation; security, justice and peace; and good government and anti-corruption.
In Friday’s forum, Soliman will give an overview of her cluster’s targets in connection with the PDP and the plans to ensure the achievement of the PDP targets.
Later, she will discuss the poverty situation in the country and the implementation of the conditional cash transfer program.
Luistro will also discuss the achievements of the Education Department and the implementation of the K+12 education program.
Ona will discuss the Kalusugang Pangkalahatang program of the Health Department and the government efforts to achieve the United Nations’ Millennium Development Goals (MDGs).
Questions will be fielded to the panelists from media representatives present in the NBN4 studio and from stakeholders from three remote locations in Payatas (Quezon City), San Jose Del Monte (Bulacan) and Eastern Samar. (PCOO)
Aquino government committed towards improving lives of all Filipinos
The government of President Benigno S. Aquino III remains committed to improving the lives of all Filipinos, especially the poor, through the development of plans and programs that will enhance their skill to become productive members of society.
Socio-economic planning Secretary Cayetano Paderanga, Jr. said this commitment is conceptualized in the Philippine Development Plan 2011-2016.
The PDP is anchored on President Benigno S. Aquino III’s 16-point “Social Contract with the Filipino People,” which envisions inclusive growth, or growth that is shared by all, for the country.
Paderanga said during the Pilipinas Natin Forum aired over government radio station on Wednesday that the President wants no Filipino left behind as the country rises to greater heights under his stewardship.
“Nung kampanya pa lang ay mayroon na siyang social contract with the Filipino people. At pinaka-importanteng objective nito ay employment generation, yung pagbibigay ng trabaho sa tao, at poverty reduction,” Paderanga said.
“At ito ay ginagawa natin through inclusive growth kung saan sama-sama tayong umaasenso lahat at walang maiiwan. Ito’y importanteng objective ng ating administrasyon,” he added.
“Kaya kailangan pati yung mga naiiwan sana, yung mga walang kapasidad na sumama sa karakter ng global growth ngayon, kung saan kailangan ng capital, ay kailangan nating tulungan para madala natin silang lahat,” Paderanga said.
President Aquino had earlier authorized the release of P700-million to the Technical Education and Skills Development Authority to beef up the agency’s Training for Work Scholarship Program that aims to equip poor but deserving individuals with the necessary skills to qualify for jobs in “in demand” industries.
These industries, according to Paderanga, include business process outsourcing, tourism, agro-industrial processing and infrastructure, among others. (PCOO)
Government to generate one million jobs to address global labor uncertainties
The Aquino administration targets to generate one million jobs a year to encourage Filipinos to stay in the country in midst of labor instability overseas particularly in the Middle East, a Palace official said on Thursday.
Presidential Communications Operations Office Secretary Sonny Coloma said in a media forum organized by the National Press Club (NPC) that the current thrust of the Aquino government is to make the local economy more vibrant so that jobs will be available locally for the benefit of the Filipino workers.
“Palagi po itong sinasabi ng ating Pangulo: we are creating conditions in the economy para nga po makapag-generate tayo at least one million new jobs every year. Para po ma-arrest na yung trend that was established decades ago na labas nang labas ang ating mga kababayan,” Coloma told the “No Holds Barred” media forum of the NPC.
Few decades ago, the Marcos administration said the deployment of overseas Filipino workers (OFWs) was just temporary as a result of the oil crisis at the time, Coloma said.
But that was 30 years ago and until now OFWs still go abroad to look for greener pastures because of lack of opportunities in the country, he added.
However, he said that globalization is also a factor in this phenomenon, and the government can’t stop Filipino workers seeking jobs abroad that require especial skills.
Because of globalization, Coloma said Filipinos became more marketable so there are still a lot of OFWs working abroad. This is mostly for high-skilled professions, he added.
In the case of the impending policy of Saudi Arabia feared to affect OFWs there, Coloma said it has no immediate impact on Filipino workers at this time. According to Coloma, their Arab employers retained their services and those who were previously deployed weren’t sent home.
He likened the present Saudi Arabia situation to the condition after the Luneta hostage crisis with some people perceiving the incident will result in mass layoffs of OFWs in Hong Kong but that didn’t happen, Coloma said.
The Palace official also made an assurance that concerned government agencies will continue to work to ensure the safety and welfare of Filipinos working in Saudi Arabia adding they are prepared if the new policy affects OFWs.
“Hindi naman po tayo natutulog sa tungkulin natin. We could come up with appropriate contingency measures kung magkakaroon nga po ng wide-spread dislocation,” he said.
In previous interviews, Deputy Presidential spokesperson Abigail Valte said the Palace is confident that there are alternative destinations that can absorb OFWs wanting to go to Saudi Arabia but are affected by the ban.
Valte said the Department of Labor and Employment (DOLE) has programs for displaced OFWs such as Balik-Pinay! Balik-Hanapbuhay! Project, a livelihood training and assistance program for returning Filipino workers.
Saudi authorities announced the new policy called “Saudization” that prioritizes hiring of local workers instead of foreign laborers. Aside from the Philippines, other Asian countries are affected by ban. (PCOO)
Palace assures passage of Freedom of Information Bill
Malacanang made an assurance Thursday for the passage of the Freedom of Information Bill (FOI) in the coming months as the administration finalizes its own version of the proposal.
“We are now in the final stages of completing the administration version and once it is completed, yan po ay isa-submit natin sa Ledac (Legislative-Executive Development Advisory Council) at isa-submit sa ating mga mambabatas so that it can take its due course,” Presidential Communication Operations Office Secretary Herminio “Sonny” Coloma said during the “No Holds Barred” media forum at the National Press Club on Thursday.
Coloma said that it is very reasonable for the measure to be passed within the coming months as the administration finalizes its own version.
There are changing perspectives and the administration as well as the opposition have different views on the issue but the general preference of legislators is to proceed with the measure that they already tackled, Coloma said.
Many provisions of the FOI bill are already included in the existing laws, Coloma said.
Coloma said the overall atmosphere of accountability and transparency in the last 11 months of the Aquino administration has been good, noting that the President has not issued any order barring government officials from attending congressional inquiries like what happened in the past administration.
He also cited the calibrated preemptive response (CPR) carried out by the previous government to quell mass gatherings that threatened the Arroyo leadership.
“Kahit naman wala pang pormal na pagpasa ng FOI ay tanungin natin ang ating mga sarili if we have enjoyed more or reduced accountability,” he said adding that press freedom is an important gauge for the working press.
Legislators failed to muster the quorum required to approve the bicameral conference committee version of the bill last May 24, the last day of the regular session for the 14th Congress.
If passed, the FOI bill would empower not only journalists but also citizens who want to know how public money is spent. (PCOO)
