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Inflation eases to 11.9 percent in September '08 ^10/7/2008

The National Economic and Development Authority (NEDA) said lower monthly price gains on food, fuel, light and water (FLW), and services, along with easing oil prices contributed to lower inflation. The National Statistics Office (NSO) reported that September inflation decreased to 11.9 percent, after reaching a record 12.5 percent in the previous month. >> more

NEDA Chief Says Continued Infra and Agri Spending to Ride Out Effects of US Slowdown ^10/2/2008

Socioeconomic Planning Secretary and NEDA Director General Ralph G. Recto, in a press conference of economic managers in Malacañang today, said that to weather the effects of the current global crisis, the strategy is to continue with infrastructure and agriculture spending. >> more

Statement of Secretary Ralph G. Recto ^9/30/2008

On the US Congress rejection of US$700 billion bailout
I expect the US Congress to pass a better package than the US$700 billion it recently rejected. The move will have an effect of calming the financial markets. Having said that, this wonʼt stop the US economy from going into a recession, which will impact on the global economy. The Philippines, along with the rest of the world, will not be spared. We are confident that our country will weather the storm. >> more