Sign up | Log in



Philippines: Expert sees slow economy but not crash

Related Stories

October 4, 2008
Arroyo upbeat over Philippine economy

October 2, 2008
Philippines revises 2008 GDP forecast down to 4.4-4.9%

September 25, 2008
Philippines: Trade deficit shoots up more than 200% in Jan-July 2008

September 15, 2008
Philippines: Inflation to stall historic growth

September 6, 2008
Philippine inflation seen cooling  after hitting 17-year high

September 5, 2008
Philippines: Central bank to shift policy as inflation peaks

September 4, 2008
Philippines to raise $1.5bn to boost reserves

August 29, 2008
Philippines inflation seen to accelerate in August

August 26, 2008
Philippines: Govt seeks $31bn for 2009 budget

August 22, 2008
Philippines growth to stay below 5.2% in Q2

August 20, 2008
Philippines’ July budget deficit soars

August 19, 2008
Philippines slashes growth forecast on inflation worries

August 11, 2008
Philippines’ central bank sees measures bear fruit


October 13, 2008

Philippines: Expert sees slow economy but not crash
The Philippine economy may slow down amid the global financial crisis but there is no chance of a crash, AFP quoted an official as saying Sunday.

Augusto Santos, deputy director general of the National Economic Development Authority (NEDA), appealed for calm as he predicted workers could still get their bonuses this Christmas.

"There is really no cause for panic," Santos said on local ANC television. "The moment that the people panic, that will make the situation worse."

"We will still have positive economic growth. It will contract but it will not go negative," he said.

He said the government was working on a contingency plan for overseas-based Filipino workers who may be affected by the global financial crisis.

The local economy has for years relied on the country's estimated eight-million workers abroad sending money home.

Last week, economic experts said the Philippine economic growth would likely fall to 4.3 percent this year and 4.2 percent in 2009.

The Philippine economy however grew 7.2 percent last year, the highest in 30 years, the government said.

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand