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NEWS UPDATES Asean Affairs   December 7,  2017  

BSP monitoring economy for risk of overheating

The Bangko Sentral ng Pilipinas (BSP) is closely monitoring the national economy and is prepared to counter risks of overheating, Governor Nestor Espenilla, Jr. said Wednesday.

"I can tell you that BSP spends a lot of time understanding the economy at any given point of time, developing a dynamic game plan, and executing effectively. So the economy doesn't overheat!" he said in a text message to reporters.

To recall, analysts raised the concern after the third-quarter growth was registered at 6.9 percent, higher than the market consensus of 6.6 percent.

Overheating happens when economic growth is unsustainable, pushing producers to overproduce to keep up with an increase in demand.

“We are working hard to run our economy competitively so it finishes a winner. We are talking careful preparation, regular tune-ups and  upgrades, skillful driving, and constant monitoring,” Espenilla said.

“The  engine is expected to get hot along the way. That's what running engines do. But there's a huge difference between a hot engine and an overheated engine. If we don't like hot engines, we should keep our car parked,” he added.

Just last month, Espenilla said the  Philippine economy may not be at risk of overheating anytime soon, but the BSP is prepared to address such a concern. — BM, GMA News

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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