Lockdown to deal setback to second-quarter GDP growth
May 2, 2021 | 7:12 pm
PHILSTAR
THE Philippine economy is projected to decline quarter on quarter in the three months to June after business activity in Metro Manila and nearby provinces returning to near-standstill conditions for more than a month, macroeconomic research house GlobalSource Partners said.
“Given the 1.5-month lockdown, we expect to see Q2 output decline sequentially from Q1,” Romeo L. Bernardo, GlobalSource country analyst for the Philippines, said in a note dated April 29.
The second strictest form of lockdown was enforced in Metro Manila, Bulacan, Cavite and Laguna, and then extended for another two weeks until May 14 to ease pressure on the healthcare system. The government started reimposing lockdowns in the region in late March following a surge in coronavirus cases.
Rates of T-bills, T-bonds seen to move sideways ahead of inflation data
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Published May 2, 2021, 4:50 PM
Senators on Sunday threw their support to the proposed P24-billion wage subsidy program for private sector workers targeted to help small and medium business struggling with the effects of the coronavirus (COVID-19) pandemic.
“I support the proposed wage subsidy for private sector workers. The subsidy will enable small and medium enterprises to retain their employees and prevent further job losses,” Senate Minority Leader Franklin Drilon said in a statement.
“I urge the DBM (Department of Budget and Management) to immediately recommend to the President the realignment of these huge allocations in the budget. there is no harm if we postpone some of these items and use the unutilized and unobligated balances to feed millions of Filipinos who are struggling to put food on the table and keep the jobs of thousands, if not million, Filipinos,” Drilon said.
Published May 1, 2021, 3:06 PM
PayMaya opens gov’t payments, financial services for OFWs and Filipinos abroad
Digital financial services leader PayMaya is making it even easier for overseas Filipinos to pay for government fees and for their family’s utility bills through the PayMaya e-wallet app.
In time for Labor Day on May 1, PayMaya opened this service for Filipinos overseas so they can now use their Philippine mobile SIM on roaming to register for a PayMaya account, allowing them to perform transactions such as paying government dues or utility bills, as well as sending money to other PayMaya users, even while abroad.
CagVal s economy declines by 9.9% in 2020
Philippine Information Agency
02 May 2021, 00:38 GMT+10
TUGUEGARAO CITY, Cagayan, April 30 (PIA) - - The economy of Cagayan Valley region has dropped to -9.9 percent in 2020 based from the latest Economic Performance Report released by the Philippine Statistics Authority (PSA) region 2.
Regional Director Marilyn T. Estrada said almost all industries and sectors have registered negative growth rate to include the other services, accommodation and food services activities, mining and quarrying, transportation and storage, and construction.
She also said even the education, professional and business services, real estate and ownership dwellings, wholesale and retail, and manufacturing also registered negative growth rate.
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