‘ClosePHL borders, cutimpact Omicron exposure risk’ to weather of Europe recession–Neda By Cai U. Ordinario
with their loved ones, while forwhich, she said, the economy can no for government to be proactive in HE Ph i l ippieigners nes wliving ill Authority (PSA), longer some afford. ECCP (European Chamber ofimposing the economy intistics temperate regions them. back to its highweather global headpercent of the country’s Commerce Philippines), Previous growth path. usually want to7.7relax in tropical “It is better that weof dothe protective instances when the winds such ascountries the spec-like the Overseas Filipino Workers are MAP (Management willopportunity be done, theto Neda LOSING the country’s borders Philippines. This preventive measures than get Associaexcountry This had the imter immediate of recession in year’s Europe as of OFWs located in Europe. tion theaPhilippines), Chief said, with thedid help ofprepriis one of the most influx is expected to The latest posed again. Weofhave lot to lose,” andpose travel restrictions not thethecountry on itssince Bangko Sentral ng Pilipinas Economic vate sector investments courses of action govern-will rely be heavier many of them were Oplas said.FEF “We(Foundation should do itfor now so vent the spread of Covid-19. Thatthat was own people (BSP) showed remittancSocioeco-mainly will lead to job ment must take to prevent the lat-and industries, unable to come home fordata the holidays that we canFreedom) open just forums,” before Christbecause thehigh-quality decision was not according to the inNational es from Europe reached $1.79 nomic Planning Secretary and increase est Covid-19 variant, Omicron, from December 2020. mas. If it gets contained, we can open Ar-madecreation immediately, he said.the share Economic and Development billion inis the first semester of senio M. Balisacan, however, “Kung of wage and salaried to reaching Philippine shores, accord“My recommendation to protect it again.” papatay patay workers [If we’re Authority (Neda) the andborders. local Do not 2022. told BusinessMirror over theslow]aand range 53 caught percentflat-footto 55 pering to local economists. allow people with Ateneo Center for Economic Reweofget “As in the past and andweekend. cent byrisky] 2028,We from 48 percent T he new var ianteconomists. is a threat, a history of travel to countries withdecadesearch Development (ACERD) ed, [that’s were too rethink year, the performance of In his previous statements,activeininstead 2021. of proactive before. e s p e c i a l l y w it h t he Over hol idthe ay sweekend, positive cases tolast enter,” Oplas said. Associate Director Ser Percival tank Oxford Economics said be more the Philippine is Balisacan the economic With thefrom creation of Peñamore, coming up and more foreigners “We should restrictive.economy [We K.unPeña-Reyes saidsaid closing the We should learn that,” soaringto energy across to depend much on the team remained andamore resilient jobs, being a llowed to travel the priceshave to the be] more likely protective in terms country’s borders would be optimistic effecReyesbetter, said. “It’s delicate balancing Eurozone and the United growth performance of Europe, aboutstill the country’s poverty is seen toand be Philippines, De La Sa lle Univerof ourKingmeasures.” tive but should adhere toGDP the pros-act. We need incidence to push testing would likely lead Oplas to busithewhile United even pects. theHealth overall goaltracing reduced 18.1 percent in sit y economist Mar dom ia Ella Oplas said that thisKingdom, will be or standards set by He thesaid World to befrom properly informed ness closures and slow downto some North America or headwinds in from(WHO). 2023 to 2028 would in-of our2021 to a single-digit level of told BusinessMirror. a setback industries, this Organization decisions. Blanket/shotgun economic inisEurope. theconsidering global economy jobPeña-Reyes creation andtold improveapproaches 9 percent in 2028. The holidays usually bringgrowth in a fair measure that in general. What is crease needed, could have dire conseBased on the Philippine Sta-help prevent I made this pointthe at the recent poverty reduction by steeringquences on theSee “PHL,” A2 Overseas Filipino Workers (OFWs) this could placing this newspaper, is for travel restriceconomy.” who are eager to spend Christmas country in another strict lockdown, tions to be put in place swiftly and See “Omicron,” A2
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@caiordinario
C EXPLAINER »B4
MICHAEL FLYNN: FROM DC INSIDER TO HOLY WARRIOR
Monday, November 29, 2021 Vol. 17 No.52 Monday, September 12, 2022 Vol. 17 No. 339
NATL GOVT BORROWINGS DEBT SERVICE UP 158% FOR 10 MOS DIP TO P2.75T IN JULY, HITS P156.198B w w
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P25.00 nationwide | 2 sections 20 pages | P25.00 nationwide | 2 sections 18 pages |
By Bernadette D. Nicolas
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Omicron risk spurs revival PHL’s salt of quarantine imports rise rulesin inH1 PHL 10%
@BNicolasBM
By Cai U. Ordinario
@caiordinario HE national government’s HE country’s gross debt service borrowings asby of soared end-October shrank 158.02 percent by almost 6 percent in July 2022, year-on-year the to start of the Marcos P2.75 trillion. administration, according to data Latest data from the Bureau of the Treasury the showed that the governfrom Bureau of ment’s gross borrowings during the the Treasury 10-month period fell by(BTr). 5.99 percent
from P2.92 trillion a year ago. With only two months left for on latest the data, debt thisBased year, the figuretotal is already service reached P156.198 billion in equivalent to 89.6 percent of its July 2022, higher than theprogram. P60.537 P3.07-trillion borrowing billion Julydomestic 2021. borBrokenposted down, in gross This isfrom the second debt rowings Januaryhighest to October service by the counsettled payment at P2.23 made trillion, down by try year. from The highest was at 5.08this percent P2.35 trillion P215.838 in 2020. billion in January 2022. However, debt service The bulkthe of higher the amount was made by the country in July did not sourced from Fixed Rate Treasury lead to (P1.19 a higher debt service in the Bonds trillion), followed by seven-month period of from 2022.Bangshort-term borrowings The data debt serko Sentral ngshowed Pilipinasthat or BSP (P540 vice between July debillion), Retail January Treasury to Bonds/Preclined 26.33(P463.3 percentbillion), to P614.553 myo Bonds Retail billion in Dollar 2022 from P834.239 Onshore Bonds (P80.84 billion lion).inIn2021. the same period, there was Ina2021, debt servicesoffor March, also net redemption Treasury January, and June in the sixBills amounting towere P43.94 billion. digit P268.323 billion, Netlevel debtatredemption means P219.799 andrepaid P150.195 there were billion, more debts combillion, pared torespectively. the amount borrowed duringMeanwhile, the period.the country’s debt serviceMeanwhile, in July was driven higher amorgrossbyforeign bortizations to P104.107 bilrowings amounting in the same period also lion. This skyrocketed by to 6,789.94 contracted by 9.7 percent P518.7 percent from the P1.511 billion in billion from last year’s P574.4 billion. amortizations paid inthrough July 2021 This was raised global Despite this, debt amortizations bonds (P146.17 billion), program between Januarybillion), and July euro-dethis year loans (P139.98 reached P305.247 billion, abillion), 46.13nominated bonds (P121.97 percent from the P566.68 a projectdecline loan (P86.41 billion), and billion posted in the same period yen-denominated samurai bonds last year.billion). (P24.19 See “Debt service,” A2 A2 “Borrowings,”
–PSA data By Samuel P. Medenilla @sam_medenilla
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PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. The country will celebrate the 158th birth anniversary of Filipino revolutionary hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO
OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND By Jasper Emmanuel Y. Arcalas
dating its registry following the them. This allows everyone to see programs as President Duterte enactment of the Coconut Farmwho are listed in the registry and if is expected to sign the industry ers and Industry Trust Fund law. farmer doesn’t see his name then he development plan in early 2022. ORE than 3 million Rosales explained that about shall coordinate with the PCA imRosales said the PCA will not coconut farmers and 500,000 coconut farmers and mediately,” he explained at a recent stop updating its list of coconut workers are now regisworkers were added to the PCA’s dialogue with coconut farmers. farmers and enjoined them to regtered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people ister in order to reap the benefits istry, which serves as the basis coconut farmers and farm workers. would see names on the list and of the decades-long idled coconut for the number of people to be The PCA’s next step is to conthey think they are not coconut levy fund. “We will not stop at 3.1 covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incormillion. We hope that more indiP75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA viduals will register in our coconut Philippine Coconut Authority farmers’ registry public, providfor immediate action,” he added. farmers registry,” he said. (PCA) Deputy Administrator Roel ing everyone the opportunity to The PCA official noted that The updating of the coconut M. Rosales said about 3.11 million check the veracity of the list, Rothe completion of the initial list farmers registry is mandated by coconut farmers and farm worksales added. of coconut farmers registry would Republic Act (RA) 11524 or the ALEXANDRA THEregistered GREAT! Just imagine onlist in Alexandra “Alex” Eala’s heart and mind she in nails the final win the girls’ singles title atIndustry the expense of Czech Lucie ers have been with the what’s going “The will be posted in public be as just time for point the to expected Coconut Trust Fund Act. Havlickova, 6-2, 6-4, at the USitOpen in Flushing at dawn Sunday (Manila time). Ealasee accomplished what no Filipinolevy-funded tennis player has done before—win a titlefarmers,” in a major.A2 Story in B7 See “3-M government since started up- Meadows spaces where people can easily rollout of other coconut @jearcalas
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Sports. PHOTO BY TROI SANTOS
HE country’s salt in NTER NATIONA L imports concerns thethe first half rose year-onover possible spread of the yearinfectious by 10 percent to $14.176 more Omicron Comillion from last year’s $12.903 vid-19 variant prompted the govmillion, government data ernment latest to reimpose mandatory showed. facility-based quarantine for all Philippine Statistics Authority arriving passengers in the country. (PSA) dataPresidential analyzed by spokesperBusinessActing Mirror that the country son Karloshowed B. Nograles announced imported metric tons on Sunday270,535.016 that the Inter-Agency (MT) of saltfor products, including Task Force the Management table salt, denatured salt,Diseases pure soof Emerging Infectious dium and the seawater, from (IATF)chloride, suspended implemenJanuary tation oftoitsJune. Resolution No. 150However, effectively the total volume of A (s.2021), imposing salt products imported in inbound the first stricter protocols for all half was 7.86 percent lower than travelers. theTo 293,610.141 imported150volnote, IATFMT Resolution ume in the same period last year, A had allowed fully of vaccinated based on travelers PSA data.from Green List non-visa PSAtodata showed Australiawithwas areas enter the country the of salt out country’s the needtop forsupplier facility-based products as as it long accounted 70.3 quarantine as theyfor secure percent total imports during negativeofReverse Transcriptionthe referenceChain period. Imports of Polymerase Reaction (RTsalt from72 Australia rose PCR)products test within hours prior by 8.6 percent to $9.970 million to their departure. from $9.179for million last classified year. “Except countries Australia was followed by Chias ‘Red,’ the testing and quarantine na at $2.894 protocols for allpercent, inboundThailand internaat $605,126 and Zealand at tional travelers in New all ports of entry $415,542, PSA datathe showed. shall comply with testing and The data protocols also showed the quarantine for that ‘Yellow’ Philippines imported salt products list countries,” Nograles said, citing from a total of 27 during the provision of countries IATF Resolution the period. No. six-month 151-A. The country’s of He noted Hongother Kong,sources which has imported products included confirmedsalt a case of the Omicron Egypt, India, Spain, Javariant,Pakistan, will also fall under the Yelpan, Israel, South Korea, Malaysia, low list countries. USA, Netherlands, TheCanada, suspension of the rulesGerfor many, Arab “GreenItaly, List”Denmark, countriesUnited will be in Emirates, Singapore, Belgium, and effect from November 28, 2021 to Bahrain. December 15, 2021. See “Salt,”on A2A2 Continued
PESO JAPAN 0.4374n UK n UK 67.2329 n 7.2796 HK 6.4722 n CHINA n SINGAPORE n AUSTRALIA n EU 56.57580.0413 n SAUDI ARABIA 13.4531 Source: BSPBSP (November PESOEXCHANGE EXCHANGE RATES nnUSUS57.50.4600 1400 nn JAPAN 0.3966 65.7396 n HK n CHINA 8.2142 7.9013 n SINGAPORE 40.6806 36.8968 n AUSTRALIA 38.5581 n36.2807 EU 57.1343 n KOREA n SAUDI ARABIA 15.2037 Source: (September26,9,2021) 2022)