January 22, 2021 | 12:32 am Font Size
United States President Joseph R. Biden, Jr. â PHOTO FROM JOE BIDEN FACEBOOK PAGE
THE PHILIPPINES is likely to benefit from a more stable world economy and subdued geopolitical tensions after United States President Joseph R. Biden, Jr. took office on Wednesday.
In his inauguration speech, Mr. Biden offered a message of reconciliation, as the United States looks to restore alliances around the world (
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âAmerica has been tested, and weâve come out stronger for it. We will repair our alliances and engage with the world once again. Not to meet yesterdayâs challenges, but todayâs and tomorrowâs challenges. And weâll lead, not merely by the example of our power, but by the power of our example,â Mr. Biden said.
Published December 28, 2020, 5:30 AM
The Department of Finance (DOF) said the country’s economic recovery is “not smooth” due to continued restrictions that dampened consumer and investor sentiment.
In his latest economic bulletin, Finance Undersecretary and Chief Economist Gil S. Beltran explained that consumers and investors will be hesitant about spending as long as movement restrictions are in place.
Finance Undersecretary Gil S. Beltran
Citing recent data on merchandise trade and manufacturing purchasing managers’ index (PMI), Beltran noted that the country’s economic recovery is “not smooth” based on August, September and October indicators.
Total merchandise trade declined at a much slower pace in September at 8.2 percent from 17.9 percent in August. However, it failed to sustain this downward trend after it deepened again to 12.8 percent in October.