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Proposed 2013 National Budget, which reinforces the Administration’s commitment to fulfill the Aquino Social Contract with the Filipino people, and seeks to drive up stronger economic growth in the next fiscal year
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Amount allocated by the Philippine Ports Authority to rehabilitate seven ports in various parts of the country. This amount will be used to modernize the Iloilo Commercial Port Complex; the Tabaco Port in Albay; the Ormoc Port in Leyte; the Dumangas Port, also in Iloilo; the Lucena City Port; the Dumaguete City Port; and the Pio Duran Port, also in Albay.
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Initial number of tobacco farmers who will benefit from a P16 million agri-business project designed to serve as an additional source of livelihood for tobacco growers in Northern Luzon. The project will see the construction of the AgriPinoy Tobacco Farmers Food Processing and Trading Center (NTA AgriPinoy) at Barangay Nanguneg, Narvacan, Ilocos Sur that will soon engage in contract growing services for hog and poultry from among tobacco-farmer cooperators.
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Amount allocated by the Department of Transportation and Communications (DOTC) to build or refurbish several offices of the Land Transportation Office (LTO) and Land Transportation Franchising and Regulatory Board (LTFRB) in Metro Manila and other key cities in the provinces
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"What was once impossible is now possible. I stand before you today and tell you: This is not my SONA. You made this happen. This is the SONA of the Filipino nation."
- President Benigno S. Aquino III, in his 3rd State of the Nation Address, July 23, 2012
(Click here to read the full English translation of the SONA)
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“This is the budget that the Filipino people entrusted to us; and this is the budget that will be the framework of our efforts to give our people a government that truly works for them.”
- President Benigno S. Aquino III, in his 2013 budget message
(Click here to read the full message)
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“The President’s renewed and categorical endorsement of the enactment of the RH and responsible parenthood bill truly complements his determination to solve the backlogs in education and ills in health.”
- Albay Representative Edcel Lagman on the President’s “Responsible Parenthood” pronouncement in his 3rd State of the Nation Address
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"I think it was inspiring and I think as businesses have expressed before, the government is doing the right things. The economic indicators that have been coming along, he affirmed those in the SONA."
- Makati Business Club Executive Director Peter Angelo Perfecto on the President’s 3rd State of the Nation Address
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“Consecutive rating actions on the Philippines indeed recognize the efforts towards fiscal consolidation, the continued strength of the country’s external position and the strides the government has made on improving governance.”
- Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco on the country’s consecutive upgrade in credit rating forecasts
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“It just so happens that today the stars are aligned… we have never seen the economy this bullish.”
- Ayala Land President Antonino Aquino on the property boom in the Philippines
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PH given growth forecast upgrades by financial institutions
Several international financial institutions have raised their growth forecasts for the Philippines in 2012, citing their expectation of a strong Philippine economy.
The local unit of Dutch financial giant ING Bank NV reported that the Philippine economy is expected to grow by 6.5% this year, accelerating from the 3.7% growth in 2011. They also pointed out that the Philippine economy has remained fundamentally strong due to the continuous pick-up of the export industry and increased government spending. ING also expects the peso to remain strong with a 41.60 to a dollar year-end forecast.
The World Bank has similar expectations, as it raised its growth forecast for the Philippine economy to 4.6% in 2012 given the strong performance of the economy in the first quarter of the year at 6.4%, as announced last May 31. The International Monetary Fund (IMF) has also lifted its growth outlook for the Philippines this year to 4.8%, and 4.9% in 2013.
The strong Philippine growth, together with the strong rebound in Thailand’s growth, has largely contributed to the improvement of the forecasting of economies of Southeast Asia. According to ADB’s Asian Economic Integration Monitor, Southeast Asia would grow by 5.2% on the back of the growth of the Philippines and Thailand.
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The lowering of the casket from the USS Princeton at Pier 13, Manila, July 27, 1946
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THIS WEEK IN HISTORY
On July 27, 1946, the remains of the late President Manuel L. Quezon, who passed away in the United States at the height of World War II, arrived from the United States on board the aircraft carrier U.S.S. Princeton. Two days prior, President Manuel Roxas issued Proclamation No. 2 which provides for a Period of National Mourning on the day of the arrival of President Quezon’s remains to August 1, 1946. President Quezon’s remains were subsequently interred in Manila North Cemetery. His remains stayed there until 1978, the year of President Quezon’s Birth Centennial and the completion of the Quezon Memorial Circle.
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