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Home>>Daily News>>Philippines>>Economy>>PHL strong enough to ‘weather’ economic storms, Dominguez claims

NEWS UPDATES Asean Affairs   November 2, 2018  




PHL strong enough to ‘weather’ economic storms, Dominguez claims

 The government is not being “complacent” amid issues looming over the economy, Finance Secretary Carlos Dominguez III said Thursday, noting he is confident that the country will be able to “weather” these storms.

The Duterte administration has taken “aggressive” measures to tame domestic inflation and sustain the country’s growth momentum amid the US-China trade tensions and the oil price surge in the world market, he said a statement.

They have been addressing the issue of rising inflation as early as May, the DOF, said, citing the Bangko Sentral ng Pilipinas’ (BSP) interest rate hikes.

Dominguez said non-monetary measures taken by the Executive Branch were to temper price increases as a result of food supply issues and soaring global oil prices.

“We are confident that we can weather the storms but we are not complacent,” Dominguez said.

The US-China trade dispute would eventually have an “adverse” impact on the economy, but Dominguez claimed the Philippines is in a “very good position” to overcome the challenge.

The country is going to use domestic spending as a “countercyclical measure to sustain our growth, he said. “We are very confident that our ‘Build, Build, Build’ program is countercyclical and that we can afford it.”


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ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
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ASEAN  ANALYSIS

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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