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Senate OKs bill requiring economic managers to report to Congress

Sep 19, 2017 - 8:06 AM

The bill will mandate the Department of Finance, National Economic and Development Authority, the Department of Budget and Management, and the Central Bank to report biannually to Congress on fiscal and monetary policies

REPORT. The Senate has passed the bill seeking to require the country's economic managers to report biannually to Congress. Malacañang file photo

PH to add more sectors allowing 100% foreign ownership

Sep 14, 2017 - 10:15 PM

I want to be more aggressive and to be at par with other ASEAN countries says Socioeconomic Planning Secretary Ernesto Pernia

MORE AGGRESSIVE. 'I want a more aggressive liberalization. The draft list is too puny in terms of changes. I want to be more aggressive and to be at par with other ASEAN countries,' Socioeconomic Planning Secretary Ernesto Pernia says. File photo

#ThewRap: Things you need to know, September 13, 2017

Sep 13, 2017 - 11:35 AM

Hello Here s a roundup of news you need to know this Wednesday

APPROVED BUDGET. Members of the House of Representatives on Tuesday jubilantly pose and flash the famous clenched fist sign of President Rodrigo Duterte after the lawmakers approved on second reading House Bill 6215 or the 2018 General Appropriations Bill (GAB). Photo from the House Press and Public Affairs Bureau

NEDA Board approves Metro Manila Subway, longest railway

Sep 12, 2017 - 7:30 PM

UPDATED These big ticket projects will be funded via official development assistance ODA from either China or Japan

BETTER TRANSPORT. These big-ticket projects form part of Mega Manila Dream Plan, a transport network roadmap seen to decongest the country’s capital. Images courtesy of www.build.gov.ph

$7-B Metro Manila subway to be extended to NAIA

Sep 06, 2017 - 6:10 PM

From an earlier projection of 4 4 billion P225 17 billion the cost of the proposed subway goes up to 7 billion P358 25 billion

Inflation rises to 3.1% in August

Sep 05, 2017 - 5:40 PM

The National Economic and Development Authority attributes the increase to higher prices of food transportation water electricity and gas

2nd Ledac meeting to tackle priority bills, new departments

Aug 25, 2017 - 6:08 PM

The President is set to convene the Legislative Development Advisory Council for the 2nd time

FIRST LEDAC. President Rodrigo Roa Duterte presides over the first Legislative-Executive Development Advisory Council (LEDAC) Meeting at the State Dining Room of Malacañan Palace on January 30, 2017. File photo by Rey Baniquet/Presidential Photo

NEDA reviews San Miguel's proposed airport in Bulacan

Jul 17, 2017 - 12:35 AM

The NEDA chief however says it is not a priority because they will focus on projects that can be finished within President Rodrigo Duterte s term

BACK BURNER. However, NEDA chief Ernesto Pernia says his office will focus on projects that can be completed in 3-6 years' time. Presidential Photo

PH, Japan sign P117-M scholarship deal for Filipino gov't employees

Jul 10, 2017 - 8:55 PM

20 Filipino government employees will take post graduate courses in Japan s leading universities like Kobe University Meiji University and Nagoya University

Inflation in June slowest in 5 months

Jul 05, 2017 - 6:25 PM

The National Economic and Development Authority projects a moderate inflation rate for the rest of 2017 thanks to lower fuel prices

LOW. PSA reports significantly slower year-on-year increase in domestic petrol prices in June, particularly unleaded gasoline (5.1% from 9.9%), diesel (5.3% from 13.6%), and kerosene (3% from 9.6%). Rappler file photo

Duterte wants Clark Dev't Corp president fired

Jun 29, 2017 - 10:37 AM

UPDATED President Rodrigo Duterte announces his plan to sack the CDC chief at the NEDA Board meeting on June 27

Major railways, national transport policy get NEDA Board approval

Jun 28, 2017 - 6:10 PM

For majority of the approved infrastructure projects the mode of financing is changed from public private partnership PPP to official development assistance ODA

11 DEALS. Some of the projects approved are major railways and an airport expansion deal. Photo by Malacanang

Locals protest Duterte admin's Chico River project

Jun 24, 2017 - 8:08 PM

The P2 67 billion Chico River Pump Irrigation Project is seen to boost the country s agricultural production but some tribes fear that it will adversely affect their communities

MARTYRS. This installation in Bugnay, Kalinga, based on a concept by Vladimir Longid, depicts the 3 Chico Dam martyrs : Pedro Dungoc, Macliing Dulag, and Lumbaya Gayudan. Photo by Frank Cimatu/Rappler

NEDA expects Philippine economy to grow faster in Q2

Jun 12, 2017 - 6:55 PM

Socioeconomic Planning Secretary Ernesto Pernia says the Marawi siege and the Resorts World Manila attack will not have lasting impact on tourism and the economy as a whole

HIGHER GROWTH. 'I think it will approach 7%. If you look at leading indicators, the second quarter I think will be better (than the first quarter),' Socioeconomic Planning Secretary Ernesto Pernia says. Malacañang file photo  Malacañang file photo

South Korea offers to fund Philippine infrastructure projects

Jun 07, 2017 - 7:15 PM

The Export Import Bank of Korea KEXIM offers concessional loans and a knowledge driven program that will enable South Korea to share its successes and failures to the Philippines

WELCOMED. Representatives of KEXIM met with Philippine government to discuss their proposed concessional loans for some Philippine public infrastructure deals. Rappler file photo

Bulk of Duterte's massive infra plan to be funded via local financing

May 31, 2017 - 7:00 PM

Only about P1 3 trillion or 18 will be accounted for through public private partnership projects

HYBRID. The administration of President Rodrigo Duterte is pushing for a hybrid mode, where the government will build the infrastructure projects and later bid out the operation and maintenance to the private sector. Stock photo

Inflation remains steady in April

May 05, 2017 - 6:09 PM

Inflation remains unchanged at 3 4 in April bringing the average inflation in the first 4 months of the year to 3 2

UNCHANGED. A street vendor counts Philippine peso currency in Manila on September 13, 2012. Photo by Jay Directo/AFP

IN NUMBERS: Three-year Rolling Infrastructure Plan (TRIP)

May 03, 2017 - 6:00 PM

TRIP outlines over 4 000 infrastructure projects worth P3 6 trillion to be completed by 2020

MEDIUM TERM. TRIP aims to complete over 4,000 infrastructure projects worth P3.6 trillion by 2020.

Inflation rises to 3.4% in March

Apr 05, 2017 - 6:35 PM

The continuing rise is driven by higher prices for gas electricity rice and meat

Inflation hits over 2-year high of 3.3% in February

Mar 07, 2017 - 2:20 PM

February 2017 s inflation level is the highest since November 2014 but the Bangko Sentral ng Pilipinas says the figure still falls within its target range

A poultry vendor examines chickens at a public market in Manila, 08 June 2005, amid reports of a bird flu outbreak. The Philippines on Friday confirmed the country's first case of bird flu in an isolated farm outside of Manila, but said the risk to human health was next to zero. AFP PHOTO / AFP PHOTO / STR

Cabinet officials back Duterte's tax reform plan

Mar 06, 2017 - 6:35 PM

Trade Secretary Ramon Lopez says however his department is coordinating with the DOF to fine tune the excise tax brackets being proposed for vehicles

FULL SUPPORT. Several Cabinet officials attend the House ways and means panel hearing on March 6, including DOF Secretary Carlos Dominguez III, NEDA Secretary Ernesto Pernia, DPWH Secretary Mark Villar, and DOTr Secretary Arthur Tugade. Photo by Mara Cepeda/Rappler

NEDA Board approves dev't plan, vows 'inclusive growth' under Duterte

Feb 21, 2017 - 5:00 PM

Through the Philippine Development Plan 2017 2022 the Duterte administration aims to boost GDP growth to 7 8 and reduce the overall poverty rate to 14 in 6 years

President Rodrigo Roa Duterte presides over the National Economic and Development Authority (NEDA) Board Meeting at the Malacañan Palace on February 20, 2017. Malacañang Photo

Inflation hits 2.7% in January

Feb 07, 2017 - 3:05 PM

Prices rise at a faster rate than at any point last year due to increases in oil transport housing and utilities according to NEDA

Visa applications of Chinese to PH surge by 250%

Jan 26, 2017 - 1:15 PM

The number of Chinese applying for a tourist visa to the Philippines rises to 1 400 daily

IMPROVED RELATIONS. This was an impact of the improved diplomatic relations between the Philippines and China since Duterte’s state visit to Beijing last October, leading to the lifting of the Chinese restriction on travels to the Philippines. Rappler file photo

Mindanao Railway project approaches rollout

Jan 16, 2017 - 12:42 PM

Another project that could be given the green light to start procurement is the Panay Guimaras Negros bridge that is estimated to cost P21 67 billion

SPUR DEVELOPMENT. A railway in Mindanao and an inter-island bridge connecting Panay, Guimaras, and Negros will be up for NEDA Board approval. Rappler file photo

SSS pension hike, 2017 inflation, Dana White | Evening wRap

Jan 10, 2017 - 7:56 PM

Watch Rappler s evening newscast with Mara Cepeda

PH gov't opens draft development plan to public comments

Jan 10, 2017 - 7:45 PM

The National Economic and Development Authority gives the public the chance to give comments and suggestions on the plan until 12pm of January 12 2017

OPEN TO PUBLIC. The National Economic and Development Authority released the draft Philippine Development Plan for public review. Photos from NEDA website

Gov't to place cap on GOCC officials' bonuses, honoraria

Jan 10, 2017 - 7:23 PM

An economic manager reveals that President Rodrigo Duterte is set to announce a cap on the bonuses and honoraria of GOCCs officials

QUESTIONABLE BONUSES. 'Once every quarter is the normal frequency of board meetings and their honoraria should be tempered, and also bonuses. In fact, they shouldn't be given bonuses. Why should they be given bonuses?,' NEDA chief Ernesto Pernia says. Rappler file photo

NEDA: Higher inflation in 2017 likely to hurt consumer spending

Jan 10, 2017 - 1:45 PM

But the National Economic and Development Authority NEDA says it will not have a significant impact on the country s economic growth this year

BUYING POWER. Expect increase of prices of basic goods and services to be much faster this year than in 2016. Photo by Agence France-Presse

Income tax reform, Black Nazarene, Meryl Streep | Evening wRap

Jan 09, 2017 - 8:56 PM

Watch Rappler s evening newscast

Inflation settles at 1.8% for 2016

Jan 05, 2017 - 1:45 PM

Inflation peaks at 2 6 in December leading full year inflation to settle below the government s target of between 2 and 4

U.S. stops aid package to PH over rights concerns

Dec 15, 2016 - 5:14 PM

UPDATED The country s socioeconomic planning chief however says he won t lose sleep over the loss of the grant

Inflation rises to 2.5% in November

Dec 06, 2016 - 10:20 PM

The increase means the country s inflation rate is at its highest level since February 2015

No poor Filipino by 2040: Can Duterte gov't set the stage?

Dec 04, 2016 - 9:00 AM

Our emphasis now is to shift the focus to the rural areas to agriculture because that is where the poverty has been chronic says chief economist Ernesto Pernia

NEDA to draw up list of infra projects for Chinese investment

Nov 23, 2016 - 9:30 PM

The list is expected to be ready by early December and could include projects beyond what was discussed during President Rodrigo Duterte s state visit to China

BPOs need to 'level up' as protection against Trump – NEDA

Nov 15, 2016 - 9:42 PM

With US President elect Donald Trump threatening to bring American firms back home Philippines NEDA says BPOs need to diversify out of call centers

NEDA board approves Tutuban-Sorsogon railway, 7 other projects

Nov 15, 2016 - 10:00 AM

UPDATED The board chaired by President Rodrigo Duterte also discusses guidelines for processing China assisted infrastructure projects

TALKING INFRA. President Rodrigo Duterte presides over the board meeting with the National Economic Development Authority (NEDA) at the State Dining Hall inside the Malacañang Palace on November 14, 2016. Photo by SIMEON CELI JR/Presidential Photo

Marcos burial, Robredo, Park | 6PM wRap

Nov 08, 2016 - 8:42 PM

Watch Rappler s 6PM newscast with Chay Hofileña

Government agencies get bomb threats

Nov 08, 2016 - 5:04 PM

UPDATED The DENR DILG DOLE and NEDA all received bomb threats at around 1 pm Tuesday November 8 The buildings have been cleared

NEDA: Poverty incidence could fall with full implementation of RH law

Nov 06, 2016 - 9:50 PM

The poverty incidence could fall to 13 15 in 2022 from 21 6 in 2015 This estimate also assumes continued economic growth which NEDA expects to remain on track for the 3rd quarter of 2016

NEDA: 'Sizeable impact' on PH economy in 2017 if China delivers on pledges

Nov 03, 2016 - 6:14 PM

NEDA chief Ernesto Pernia also says the Philippines will screen Chinese companies interested in government projects to weed out shady firms

PH gov't to UN: Consider anti-drug campaign 'beyond the headlines'

Nov 02, 2016 - 2:25 PM

NEDA Deputy Director General Rosemarie Edillon in a dialogue with a UN committee says the Philippines is addressing the drug problem with treatment and rehabilitation among others

Photo by Ben Nabong/Rappler

New poverty data: Is poverty falling fast enough?

Oct 29, 2016 - 4:00 PM

UPDATED Over the course of almost a decade we ve seen a yearly reduction of the number of poor people by just 80 000 per year

NEDA: 1.4 million less poor Filipinos in 2015 than in 2009

Oct 27, 2016 - 5:20 PM

The Philippines poverty incidence for 2015 declines to 21 6 compared with 26 3 in 2009

Duterte's Ambisyon Natin 2040: Middle-class society for PH

Oct 15, 2016 - 1:51 PM

Guided by this 25 year long term vision government will aim to triple real per capita incomes and eradicate hunger and poverty by 2040 if not sooner

Barbers vs Pichay, Manila City Jail, Bhumibol of Thailand | 6PM wRap

Oct 13, 2016 - 9:44 PM

Watch the 6PM wRap with Paterno Esmaquel

Robredo urges Duterte to stop land conversion ban

Oct 13, 2016 - 6:00 PM

This will make our mission far more difficult in solving the growing problem of homelessness says Vice President Leni Robredo on the proposed ban on the conversion of agricultural lands

NEDA, DOLE ditch proposed P125 wage hike

Oct 12, 2016 - 9:15 PM

Different regions have different conditions cost of living conditions so you cannot just enforce a uniform increase across all regions says Socioeconomic Planning Secretary Ernesto Pernia

TO GO WITH "LIFESTYLE-PHILIPPINES-FASHION-SHOES" by Mynardo Macaraig Labourers work at a shoe factory in Marikina City, Rizal province, east of Manila on July 13, 2010. They owned the world's largest shoes and had Imelda Marcos for a celebrity endorser, but today the Philippines' cobblers are in danger of being buried by an avalanche of cheap imports.Marikina shoes were once widely used both locally and abroad. Marikina-made snake-skin shoes become the toast of Fifth Avenue in the early-1980s, the city boasts on its website. AFP PHOTO/TED ALJIBE / AFP PHOTO / TED ALJIBE

Inflation rises to 2.3% in September

Oct 05, 2016 - 6:06 PM

The September figure – the highest recorded for the year so far – is still within the central bank s forecast of 1 6 to 2 4

NEDA ICC-CabCom recommends 7 infra projects for approval

Oct 02, 2016 - 10:20 PM

The projects mostly in the provinces include a new international container port in Cebu as well as expansion of development infrastructure in agricultural heartlands