Articles worth reading

San Juan TUPAD beneficiaries receive payment

account_balanceSan Juan access_time4 days ago

A number of Tulong Panghanapbuhay sa Ating Displaced/Disadvantaged Workers (TUPAD) beneficiaries received their financial aid on Tuesday, Nov. 30, after rendering work in San Juan City as as a way of helping them earn a living amid the ongoing COVID-...

EcoWaste bats for national firecracker ban 

account_balanceMetro Manila access_time5 days ago

The EcoWaste Coalition highlighted the need to impose a nationwide ban on firecrackers as an essential measure to keep Filipinos safe from injuries and pollutants, as well as to discourage mass gatherings amid the looming threat of Omicron COVID-19 v...

EDC taps IBM's weather solution

account_balanceMetro Manila access_time5 days ago

Energy Development Corporation (EDC), the world’s largest vertically integrated geothermal energy company, announced today it is leveraging weather forecast data from IBM’s The Weather Company (TWC) to help make better decisions for the o...

Metro News

Salceda hopeful on 5% GDP growth this year

account_balanceMetro News account_circleGab Ocampo chat_bubble_outline0 Comments

The chair of the House Ways and Means Committee on Thursday said the country’s 5-percent gross domestic product (GDP) growth target for this year is still attainable amid more coronavirus disease 2019 (Covid-19) vaccine deliveries, particularly in lagging regions, according to a report by Philippine News Agency.
 
Albay Rep. Joey Salceda, who also co-chairs the House’s economic stimulus and recovery cluster, said vaccine equity is necessary to fix interregional supply issues in lagging regions like the Bangsamoro Autonomous Region in Muslim Mindanao and Bicol. 
 
“The challenge really is two-pronged. One is demand, and the other is inflation. Both can be solved by vaccinations in areas where supply and demand bottlenecks exist, like Bicol. The differences in Covid-19 situation among regions is what’s causing transport bottlenecks. So, you make the situation similar through vaccine equity,” Salceda said. 
 
He said problems would still exist no matter how high the vaccination rate is in Metro Manila if the provinces are still “not out of the woods with Covid-19”. 
 
“We are at a bit of a cliff here when it comes to inflation. You stimulate demand in NCR (National Capital Region) without fixing the interregional supply issues through vaccine equity, and you will see high inflation, especially in transport and food. So, while you might see high nominal growth, your real growth is in trouble. You have to do both demand stimulus and vaccine equity,” he added. 
 
Salceda suggested to the country’s economic managers to keep the policy rates pro-growth, increase food supply, and food mobility to efficiently allocate and vaccinate in the regions, which are “aching for” new arrivals. 
 
“Manila is on the road to being okay. The regions are still not. We can’t do this without aggressive catchup efforts on the part of the national government, especially on vaccine arrivals,” he said. 
 
Asked about his inflation projections for 2022, Salceda said it is still possible to stay at 4 percent or below, depending on whether the country experiences a super typhoon in October and November, and whether fuel costs in the world market continue to increase.


date_rangeDate Published
1 month ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

EDC taps IBM's weather solution

account_balanceMetro Manila chrome_reader_mode5 days ago

Energy Development Corporation (EDC), the world’s largest vertically integrated geothermal energy company, announced today it is leveraging weather forecast data from IBM’s The Weather Company (TWC) to help make better decisions for the o...

Economy seen to grow within target 

account_balanceMetro Manila chrome_reader_mode1 week ago

Despite the looming threat of the Omicron variant of the coronavirus disease 2019 (Covid-19), Malacañang on Tuesday said it is confident that the Philippines could still achieve its target of 4 percent to 5 percent economic growth by the end o...

LGUs have power over mandatory vaccination

account_balanceMetro Manila chrome_reader_mode6 days ago

Local government units (LGUs) have the authority to impose mandatory inoculation against Covid-19 and eliminate hesitancy and brand preference, according to a report by Philippine News Agency. Department of the Interior and Local Government (DI...

Over 2 million Quezon City residents receive vaccines

account_balanceQuezon City chrome_reader_mode4 days ago

The Quezon City government on Thursday said it has breached the two million mark of its adult population who have received at least one dose of the coronavirus disease (Covid-19) vaccine, according to a report by Philippine News Agency. “Sa pa...

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature