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  • Continued fall in oil prices causes imports decline in January 2015

    MANILA – Merchandise imports recorded a 14.2 percent decline in January 2015 as payments for mineral fuels and lubricants, capital and consumer goods contracted in the period, according to the National Economic and Development Authority (NEDA). “Lower oil prices primarily caused the imports bill to decline significantly in January 2015. Over the medium term, payments for imported crude oil may remain lower, tempering the total value of Philippine merchandise imports in 2015,” said Economic Planning Secretary Arsenio M. Balisacan....

  • PH needs more R&D investments for evidence-based disaster risk reduction policies, strategies – NEDA

    SENDAI, JAPAN – With the increasing frequency of natural hazards and disaster-related economic losses globally, more public investments on disaster risk reduction (DRR), particularly on research and development (R&D) are necessary to support more effective and evidence-based DRR policies and strategies, according to the National Economic and Development Authority (NEDA). Economic Planning Secretary Arsenio M. Balisacan emphasized the importance of this intervention during the Ministerial Roundtable on Public Investment Strategies for DRR at the 3rd United Nations (UN) World...

  • Message of Secretary Balisacan for the Socioeconomic Report 2014

    Last year, when we launched the Updated Philippine Development Plan 2011-2016, there was optimism about the country’s succeeding development direction. Following the realignment of strategies based on geographical considerations, we crafted and implemented new approaches which we deemed more responsive to the needs of sectors and areas where many of the poor reside and make a living. Given also the strong growth in 2012 and 2013, the expectations for 2014 were very high.  However, the country’s GDP growth for...

  • January 2015 employment figures show stronger PH jobs market

    MANILA— The number of jobless Filipinos fell further in January 2015, showing signs that the country’s labor market is continuously improving and fueling hopes that the better employment figures will sustain recent findings of increased incomes of low-income families, according to the National Economic and Development Authority (NEDA). The January 2015 Labor Force Survey (LFS) revealed that the figures for employment, unemployment, and underemployment all improved during the period. The Philippine Statistics Authority (PSA) reported today that employment grew...

  • Manufacturing slows down in January 2015
    NEDA cites transport, power issues as constraints to manufacturing growth

    MANILA – The manufacturing sector grew at a slow pace in January 2015 following the decline of demand after the holiday season, according to the National Economic and Development Authority (NEDA). Registering its slowest growth since April 2014, the Volume of Production Index (VoPI) grew by 3.3 percent year-on-year in January 2015 from 4.4 percent in the same month in 2014. Also, the steepest decline since May 2013 was recorded by the Value of Production Index (VaPI) that decreased...