Malacañang confident of PHL peso’s recovery vs US dollar

admin   •   September 18, 2018   •   3502

With the holiday season just around the corner, Malacañang is optimistic that the Philippine peso will be able to recover against the US dollar.

“We are confident that the peso will rally because this is now the season that our OFWs remit more than usual amounts to their loved ones in the Philippines” said Presidential Spokesperson Harry Roque.

The statement was made following the release of the projection report which estimates the exchange rate to reach P58 per US dollar due to the increasing trade-in-goods deficit prompted by the Build, Build, Build infrastructure program of the Duterte Administration.

As of Tuesday, September 18, exchange rate is still P54 per US dollar. — Rosalie Coz

Mayor Sara hopes solid support for BBM-Sara Uniteam following Go’s withdrawal from prexy race

Maris Federez   •   December 2, 2021

MANILA, Philippines — Vice-presidential aspirant Davao City Mayor Sara Duterte-Carpio said that she is hoping for stronger support for her and presidential aspirant Ferdinand ‘Bongbong’ Marcos, Jr. with the withdrawal of Senator Christopher ‘Bong’ Go from the race in the 2022 national elections.

In a statement, Mayor Sara said she is hoping that Senator Bong Go’s withdrawal will push for the continuing steps for unity among leaders and supporters.

“Now that Sen. Bong Go has declared his withdrawal from the presidential race and to quote him, ‘for the sake of unity among our supporters and leaders’, tuloy-tuloy na po tayo sa ating pagkakaisa kasama ang BBM-Sara Uniteam upang tayo ay magtagumpay sa ating hangarin para sa bansa,” she said.

Meanwhile, senatorial aspirant Antonio Trillanes IV said that whether or not the BBM-Sara tandem benefits from Senator Go’s withdrawal of candidacy will not affect Vice President Leni Robredo.

“Kasi maaaring lumakas din naman si Isko. Pero hindi rin naman makakaapekto kay VP Leni either way. So, we will just wait for the next survey,” Trillanes said.

The former senator also pointed out that BBM-Sara Uniteam alliances with former administrations will be favorable for the opposition.

“Yung pagsasanib pwersa nila Arroyo, Estrada, Marcos, pati nina Duterte, pabor yan sa oposisyon dahil liliwanag sa mga kababayan natin yung mga iniluwa na ng lipunan eh yun yung mga nagsasama sama,” he said.

On the other hand, the team-up of Senator Panfilo ‘Ping’ Lacson and Senate President Vicente Sotto III said that even if they will not get the endorsement of President Rodrigo Duterte, they will continue the good programs that the present administration has started.

“Ke endorse, ke hindi, talagang yung magagandang programa dapat ituloy. Lalo na yung ‘Build, Build, Build’,” Lacson said. —/mbmf (from the report of UNTV Correspondent Nel Maribojoc)

PSA: Inflation eased at 4.6% in October

Maris Federez   •   November 5, 2021

MANILA, Philippines —  The country’s headline inflation decelerated in October 2021, registering decreasing prices of basic goods and services, the Philippine Statistics Authority (PSA) announced Friday, November 5.

The PSA, in its Summary Inflation Report Consumer Price Index report, said the inflation eased further to 4.6 percent in October 2021 from 4.8 percent in September 2021.

It added that this brings the year-to-date inflation from January to October 2021 at 4.5 percent.

Inflation in October 2020 was posted at 2.5 percent.

“The main source of the downward trend of the October 2021 inflation was primarily due to the slower annual increment registered in food and non-alcoholic beverages index at 5.3 percent, from 6.2 percent in September 2021,” the agency said.

“Na-balance siya, nagkaroon tayo ng pagtaas sa petroleum and LPG na nagkaroon ng impact sa transport and component ng Household, Water, Electricity, Gas and other fuels, but the prices of food dropped. Of course, we saw that the meat prices particularly pork bumaba siya,” said Usec. Dennis Mapa, Philippine Statistics Authority head.

Contributing also to the downward trend in the overall inflation were the lower inflation recorded in the indices of the following commodity groups:

  • Alcoholic beverages and tobacco, 9.8 percent;
  • Education, 0.7 percent; and
  • Restaurant and miscellaneous goods and services; 3.8 percent.

On the other hand, inflation rates were higher in the indices of the following commodity groups:

  • Housing, water, electricity, gas, and other fuels, 4.4 percent;
  • Furnishing, household equipment, and routine maintenance of the house, 2.5 percent;
  • Health, 3.2 percent
  • Transport, 7.1 percent; and
  • Recreation and culture, 1.0 percent.

Duterte inaugurates Sariaya Bypass Road

Robie de Guzman   •   October 22, 2021

President Rodrigo Duterte has inaugurated the 7.42-kilometer long Sariaya Bypass Road in Quezon Province.

In a speech after unveiling the marker on the new road on Thursday, Duterte said the completion of the project affirms the administration’s “strong commitment to improve the quality of life of Filipinos by pursuing strategic infrastructure projects across the country thereby improving connectivity and mobility, creating jobs, and dispersing economic activity throughout the regions.”

“It will likewise spur the growth of industries and business opportunities in the area, thereby boosting the socio-economic development of Quezon Province and improve the lives of the people,” Duterte said.

“As we continue to overcome the current pandemic and carefully reopen our national and local economies, infrastructure development will play a vital role in our success,” he added.

The bypass road is seen to provide faster and safer travel for motorists and will also allow efficient transport of goods to and from the markets in Southern Luzon, the President said.

The road could also lessen the traffic volume along Daang Maharlika from Sariaya to Lucena City by 40 percent.

Stretching from the Manila South Road Daang Maharlika to the Quezon Eco-Tourism Road, the Sariaya Bypass Road is expected to cater to around 15,000 motorists and commuters daily going to the different provinces in the Southern Tagalog Region.

At the same time, it is seen to spur economic and social development through efficient transportation, improved road safety and enhanced business opportunities in Quezon Province.

The Sariaya Bypass Road is one of the flagship projects of the Department of Public Works and Highways (DPWH) under the administration’s Build, Build, Build Program.

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