P27.5-B rural dev’t project readied
By Riza T. Olchondra
The Aquino administration is set to implement an agriculture-led program meant to help farmers create value-added products and develop related supply chains nationwide.
The Aquino administration is set to implement an agriculture-led program meant to help farmers create value-added products and develop related supply chains nationwide.
The World Bank has set a goal of eliminating extreme poverty around the world over the next 17 years.
The World Bank has warned that the Philippines and a few other Asian countries were facing threats of overheating and suggested that policymakers start shifting focus from boosting economies to containing the buildup of inflationary pressures.
The peso strengthened on the first trading day of the week as the World Bank reiterated its projection on the Philippines likely keeping its growth robust and within the 6-percent territory in 2013 and 2014.
The World Bank has warned that the Philippines, together with a few other Asian countries, are facing threats of “overheating” and suggested that policymakers now shift focus from boosting economies to containing the buildup of inflationary pressures.
The World Bank has approved the extension of a $300-million loan to the Philippines to support the country’s efforts to attract investments and reduce the incidence of poverty.
Optimism is soaring that the Philippines is finally becoming an Asian tiger economy, but critics caution a tiny elite that has long dominated is amassing most of the new wealth while the poor miss out.
THE PHILIPPINE government’s effort to provide monthly food subsidies for the poor has turned out to be a worthy investment, the World Bank said.
To the President: Make agriculture and tourism the priority sectors for infrastructure support and development to create more jobs.
The World Bank wants the Philippines to jack up spending for infrastructure, adding that it is willing to extend whatever amount of loan the government will need to achieve the agenda of investment generation and job creation.
President Aquino said sustaining the economic growth achieved in 2012 would be among the serious challenges his administration would face in the next three years.
The World Bank said the big number of unemployed and underemployed in the Philippines was the big challenge for the Aquino administration.
