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Friday, February 14, 2025 Vol. 20 No. 125
P25.00 nationwide | 3 sections 28 pages | 7 DAYS A WEEK
TRADE SPUR RATE FREEZE G
Bautista quits, Dizon takes over DOTr
By Andrea E. San Juan @andreasanjuan
LOBAL uncertainty over trade policies prompted the Monetary Board to keep the policy rate steady at 5.75 percent.
At the Bangko Sentral ng Pilipinas’ (BSP) monetary policy meeting on Thursday, the seven-man Monetary Board said it “decided to keep the BSP’s Target Reverse Repurchase Rate at 5.75 percent.” BSP Governor Eli M. Remolona Jr. also noted that interest rates on the overnight deposit and lending facilities remain at 5.25 percent and 6.25 percent, respectively. Remolona told reporters at the briefing that, “Normally, we would have cut further. But something has changed. “The thing that has changed is the uncertainty over what’s going on globally, especially the uncertainty over trade policy. But there are other sources of uncertainty.” Remolona added that the seven-man Monetary Board “is not quite comfortable with evaluating the impact of that, the uncertainty itself. And we don’t quite know what the policies will be.” The impact of uncertainty, he stressed, is “very tricky to analyze.”
Balancing inflation, GDP
THE BSP chief also explained
to reporters the Central Bank’s structure of policymaking. “Normally, the BSP’s inflation concerns get a bigger weight.” However, Remolona said the Monetary Board takes account of growth, adding, “We don’t want to lose output unnecessarily.” He continued: “If we can manage, we want to reduce inflation without reducing output. So that’s a balancing act but this time, the balancing act is more difficult than usual,” added Remolona. In particular, the Monetary Board noted that domestic growth prospects continue to be “firm.” However, Remolona said uncertainty over global economic policies and their impact on the domestic economy has “increased significantly.” With this, the BSP chief explained that before deciding on the timing and magnitude of further reductions in the policy interest rate, the Monetary Board “deems it prudent to await further assessments of the impact of global policy uncertainty and the potential See “Unknowns,” A2
By Lorenz S. Marasigan and Samuel P. Medenilla
T
ROSES ARE RED, PRICES ARE HIGH With love in the air, flower prices have surged due to soaring demand as Dangwa Flower Market in Manila
overflows with people eager to buy blooms for their loved ones this Valentine’s Day. Located on Dos Castillas Street in Sampaloc, Dangwa has long been Manila’s go-to flower hub, with fresh blooms arriving from Baguio, Benguet, and even as far as Ecuador and the Netherlands. NONIE REYES
’25 budget total hits P6.378T on new funding for UAs,AAs
T
FROM GALENTINE’S TO VALENTINE’S: LOVE EVERY MOMENT AT SM LANANG! Whether it’s romantic moments, heartfelt gifts, and delicious dining
for Valentine’s Day, unforgettable Galentine’s Day fun and bonding, or embracing selflove on Singles Awareness Day, we’ve got something for everyone. There’s So Much Love for you to discover and feel at SM Lanang. SM SUPERMALLS
HE 2024 national budget reached P6.378 trillion as the government further made adjustments due to additional funding for unprogrammed and automatic appropriations. Preliminary data from the Department of Budget and Management (DBM) showed that P610.902 billion in additional funds were included in the national budget in 2024, bringing the budget to P6.378 trillion. As such, P531.374 billion went to unprogrammed appropriations while P79.528 billion was allotted for automatic appropriations. Under unprogrammed appropriations, P200.028 billion was added as assistance for government infrastructure and social programs. The
Department of Public Works and Highways (DPWH) and the Department of Agriculture (DA) obtained P155.881 billion and P17.625 billion, respectively. About P127.061 billion was also allotted as support to foreign-assisted projects, particularly to DPWH, DA, and the Department of Transportation (DOTr). The DPWH and DOTr also received more funding for the government’s counterpart of foreign-assisted projects worth P40.877 billion. For the maintenance, repair, and rehabilitation of infrastructure facilities, P13.5 billion was given to DPWH. Moreover, local government units See “Budget,” A2
RANSPORTATION Secretary Jaime J. Bautista announced his resignation from the Department of Transportation (DOTr), effective February 21, citing health concerns. President Ferdinand R. Marcos Jr. has accepted his resignation and appointed Vivencio “Vince” Dizon as his successor. In his statement, Bautista expressed gratitude to Marcos for the opportunity to serve in government, describing his tenure as “most enriching, having served with utmost integrity.” He said he “looks forward to a smooth transition, after which a much needed vacation to recuperate from two and a half years of intense public service.” A separate announcement was made by Executive Secretary Lucas Bersamin, who confirmed Dizon will replace former Bautista effective on February 21, 2025. “He [Dizon] is already authorized by the Office of the President to start the transition at the DOTr in coordination with the team of Secretary Jaime Bautista, who has resigned due to health reasons,” Bersamin said. Aside from being the former See “Bautista,” A2
NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following companies/Employers have filed with this Regional Office application/s for Alien Employment Permit/s: ESTABLISHMENT / ADDRESS No.
NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION
QUALIFICATION AND SALARY RANGE
ACTIVEPH BUSINESS CONSULTANCY INC. Room 202 Apc Building, Quezon Ave., Paligsahan, Quezon City CHEN, YANSHAN Assistant Consultant 1.
Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information.
Basic Qualification: Bachelor’s Degree in Business Management. Excellent communication skills, verbal or written. Salary Range: Php 30,000 - Php 59,999
See “dole ncr” on A8-A9
PESO EXCHANGE RATES n US 58.1840 n JAPAN 0.3768 n UK 72.4100 n HK 7.4694 n CHINA 7.9650 n SINGAPORE 43.0196 n AUSTRALIA 36.5337 n EU 60.4124 n KOREA 0.0401 n SAUDI ARABIA 15.5137 Source: BSP (February 13, 2025)