#Philippineeconomicgrowth

[thxnews]

President Marcos to Sign PHP5.76-Trillion 2024 Budget

Anticipation Builds for National Budget Approval

President Ferdinand R. Marcos Jr. is set to actively sign the PHP5.76 trillion 2024 national budget this coming Wednesday, a move that will mark a significant moment in the Philippines' financial planning. House Speaker Martin Romualdez confirmed this development to reporters in Tokyo, indicating the importance of this event in the country's fiscal management.   The Journey of the 2024 Budget Last week's ratification of the proposed 2024 budget by both the Senate and the House of Representatives was a critical step leading up to this moment. The budget, equivalent to 21.7 percent of the Philippines' gross domestic product, represents a 9.5 percent increase from the PHP5.268 trillion 2023 budget. This escalation underscores the government's commitment to addressing the nation's evolving needs.  

Understanding the 2024 National Budget

Focus on Economic Growth and Development The 2024 national budget, featuring a substantial increment, primarily aims to fuel economic growth and development across various sectors. Moreover, as the country actively navigates dynamic global economic challenges, officials anticipate that this budget will play a crucial role. Not only will it bolster the Philippines' resilience, but also significantly contribute to its progress. Additionally, this proactive approach underscores the government's commitment to adapting and thriving in an ever-changing global economic landscape.   A Comprehensive Financial Blueprint This budget is not just about numbers; it's a comprehensive financial blueprint that will guide the Philippines through 2024, touching upon every aspect of national development, from infrastructure to social services. It aims to address the immediate needs of the Filipino people while laying the groundwork for long-term sustainability and growth.  

PH Fiscal Stewardship

With President Marcos' anticipated signing of the 2024 national budget, the Philippines is poised to embark on a new chapter of fiscal stewardship. Consequently, this budget mirrors the administration's vision for the nation's future, thereby promising to become a cornerstone in the pursuit of economic stability and prosperity. Furthermore, its implementation will signify a pivotal step forward in aligning the country's financial strategies with its long-term developmental goals.   Sources: THX News & Philippine News Agency. Read the full article

[annvassadress]

What is the Best Decision to Make During the Inflation Rate?

Inflation rate has been cause of worries among us Filipinos specially nowadays that the typhoon causes not only physical danger but change in the economy. It would not only affect the ones who witnessed it with their own eyes but everyone in this country. The crop damage that has been inflicted by the Typhoon Ompong has its big effect specially to consumers who often buys vegetables, fruits and other items in the market. These goods has been part of Filipinos lives, our daily lives. It has become a necessity that’s why the increased rate for these totally hurts the budget. Not only the goods but also some of the services rate has been set high. 

Another thing is the peso-dollar rate which is increasing at an alarming rate. Now, I questioned myself what are the best decisions to make during this time of commodity? 

It has also been a right timing that I get to attend the press conference for the “2019 Market Outlook and Bright Offering”.  Sun Life’s Chief Investment Officer Mr. Michael D. Enriquez talked about the positives and negatives of what’s going on to the Philippine Economic Growth. 

Sun Life GDP growth forecast to 6.4 percent from 7 percent as higher-than-expected inflation will curve consumption. It has indeed affect our grocery budgets and even the piso currency rate got weaker due to the recent typhoons.

In stock market, Sun Life is quite bearish forecasting the Philippine Stock Exchange index (PSEi) to end the year at 7,000 to 7,200 based on a “bottoms-up” approach which values individual stocks to come up with the index forecast rather than using a general price-to-earnings assumption. “There will be more negatives before we see positives in the economy but it doesn’t mean there’s no opportunity to enter markets right now,” Enriquez said, adding that this was the time to pick up equities. Starting next year, Enriquez said inflation—which measures the average increase in the prices of goods and services typically consumed by local households—should “normalize” and ease to a full-year average of 4.1 percent from around 5 percent this year.  

This is seen to further ease to 3 percent by 2020 or well within the 2-4 percent goal of the inflation-targeting Bangko Sentral ng Pilipinas (BSP). The shortfall in rice supply, along with the upsurge in oil prices and the higher excise taxes on vehicles, fuel and sweetened beverages, all contributed to the spike in the inflation rate this year. BSP might further tighten interest rates by 25 basis points more this year and by another 25-50 basis points in the first quarter of 2019. As inflation normalises next year, Enriquez said the Philippine domestic economy could grow at a faster clip of 7 percent. Meanwhile, Sun Life expects the peso to stabilize at P53.80:$1 this yearend and appreciate to P52.90:$1 by next year. 

Going back to my Question? What is the best decision to make during the inflation rate? Below are the this simplest thing that I’ve learned that won’t even hurt my savings.  Money wise, my savings would be in a safer place.

1) Invest. Just for P1,000!!! 

ALL it takes is just P1,000 to invest in Sunlife Prosperity Funds. Instead of putting your money into a lower-interest savings might as well invest it to stocks or mutual funds that increases the chance of growing your money.

On the other hand, Sun Life Asset Management beefs up Bills Payment Program with new bank partners that would make it easier for us to invest!!

Sun Life Asset Management beefs up Bills Payment Program with new bank partners Committed to make investing an even more delightful experience for its clients, Sun Life Asset Management Company, Inc. (SLAMCI) has partnered with Banco De Oro (800), Bank of the Philippine Islands (BPI), and Metrobank for its Bills Payment Program. 

The Bills Payment Program enables clients to make additional investments in peso-denominated Sun Life Prosperity Funds via a bank partner’s various payment channels: online banking, mobile banking automated teller machine (ATM)*, or over-the-counter (OTC). ’We’d like to offer clients comfort and convenience in their investing experience, knowing just how demanding their daily lives can be," SLAMCI President Valerie Pama said. "By enhancing the Bills Payment Program, and with the help of our bank partners, our clients can effectively integrate investing in their lifestyle and be on their way to prosperity." For online banking payments, Sun Life Prosperity Fund investors who are 300, BPI, or Metrobank accountholders can make additional investments by enrolling the intended Sun Life Prosperity Fund/s as a biller in the banks' respective online platforms, then proceeding with payment. This functionality can also be enjoyed using the banks' respective mobile applications. 

 Meanwhile, for OTC payments, investors simply need to drop by any 800, BPI, or Metrobank branch, fill out a payment slip, and hand the payment to the teller. According to Pama, SLAMCI is set to partner with more banks in the coming months. "This way our investor can easily stay on track in their journey towards their financial goals," she said. 

[cebu-realestate]

Investors Told: Better Days Ahead for Economy

Investors Told: Better Days Ahead for Economy http://ceburealestate.com.ph/investors-told-better-days-ahead-for-economy/ By Sandy Araneta | Mar. 25, 2015 Manila Standard Today “YOU ain’t seen nothing yet.” With these words, President Benigno Aquino III told participants in the 4th Euromoney Philippines Investment Forum that better days are ahead for the Philippine economy. “Every year, without fail, I receive an in...

[cebu-real-estate]

APEC Member Countries to Strengthen ‘Cebu Action Plan’

APEC Member Countries to Strengthen ‘Cebu Action Plan’

Rappler.com Mar 05, 2015

There is a great necessity for Asia-Pacific Economic Cooperation (APEC) countries to forge strategies against the negative economic implications of natural disasters, the Philippines’ national treasurer said. (more…)

[cebu-realestate]

APEC Member Countries to Strengthen ‘Cebu Action Plan’

APEC Member Countries to Strengthen ‘Cebu Action Plan’ http://ceburealestate.com.ph/apec-member-countries-to-strengthen-cebu-action-plan/ Rappler.com Mar 05, 2015 There is a great necessity for Asia-Pacific Economic Cooperation (APEC) countries to forge strategies against the negative economic implications of natural disasters, the Philippines’ national treasurer said. The region is not immune from economic shocks, as its...