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The Central Bank Monetary Board is expected to meet on March 21 to set the monetary-policy settings anew. Meanwhile, the vessel queuing at the ports has been improving in line with the short-term solutions being undertaken by the government, with the number of vessels down to at least 15 from the previous 37 vessels at most. And, since container yards in the country are already fully loaded with empty containers, most trucking companies now have a number of empty containers in their possession, which results in their not being able to carry laden containers.

HE opening up of the Philippine rice market could push its imports this year to a record-high 2. Ana also said the standoff between the Senate and the House of Representatives on the budget will cause investors to punish the country, further undermining GDP growth this year.

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The lawmaker also said the senators have the right to suggest to the President to veto the part of the national budget that they think unconstitutional. It may, Bello noted, be revived under a tripartite arrangement, this time with the participation of workers in crafting its provisions. The economic team also said other risks include tighter financing conditions in emerging markets due to the strengthening of the US dollar and rising risk premiums, as well as heightened geopolitical tensions. The Sunday March 10 water level as of 11 a. If the House did not do its duty, then the budget would be vague and opaque. Initial numbers conveyed to senators by the Department of Finance DOF , according to Lacson, showed such pushback of the budget approval until August could mean losses of P million daily to the economy, which, in turn, will shave off at least 1. August as inflation continues to decline, the economist said. They said this is the reason the government continues to hang its hopes on the passage and implementation of the rice tariffication law. He said the decision to delay the passage of the national budget was a wrong one. Other provisions of the junked three-year deal being opposed by labor groups is its moratorium on the labor inspection for firms, which will absorb its contractual workers and noninclusion of workers in its crafting. Ana said. I believe, however, that election and consumer spending can offset potential adverse effects of delays in government spending. AVAO CITY—Another emerging city in the region, Panabo City, joined the elite circle of emerging billionaire cities in the country, thanks largely to its sprawling banana plantations cultivated for export and its bustling port for shipping them. The senator suggested this can only be resolved if the House sticks to what was approved in the bicameral conference committee. Neda, DOF and DBM will also be on the lookout for downside risks such as those coming from the US-China trade tensions, slowing global demand, higher tariffs, and protectionist policies that stifle investments and disrupts global value chains. This will be followed by a basis-point cut in June and a basis-point cut in. Rea Cu. We itemized our amendments. HE Bangko Sentral ng Pilipinas BSP could cut its monetary-policy rates by as much as basis points this year, according to an international bank economist, as inflation is expected to soften further into In a recent research assessment, Standard Chartered Economist for Asia Chidu Narayanan said they are revising their earlier expectation of a rate hold for the entire , to a total of basis points spread over the May, June and August meetings. For the rate cuts, Narayanan said they see a basis-point cut in May, as the BSP will likely be comforted by inflation prints showing further easing in March and April. Once in effect, the SOT bill will impose additional restrictions for companies engaged in contractu-. After several mone t a r y - p ol ic y a c t ion s, from the BSP, as well as nonmonetary policies from the n at ion a l gover n ment , i nf lation started to go down in November to 6 percent, to 5. Government data submitted to the World Trade Organization indicated that this could be the biggest volume of rice to be imported by the Philippines in history, overshadowing the volume it purchased in In , the Philippines imported 2. We identified already a space for empty containers in Carmona. President Julius Cainglet said that this was the decision of the members of labor coalition Nagkaisa during their talk with Labor Secretary Silvestre H. The Philippine Statistics Authority PSA announced recently that the monthly inflation print went back to withintarget in February to 3. If the measures agreed upon succeed, the MICP said that it sees around 17, empty twenty-foot equivalent units loaded out in a week compared to its high average of only 10, TEUs. Likewise, lower quality Indica index declined by 7. Only then can the Senate President sign it. Economists Calixto V. Lower inflation is likely to further tighten already-tight monetary conditions. Narayanan said. Bicameral Conference Committee. The shipping companies no longer publicly issue arrival notices, so the customs broker or trucker needs to go to their respective offices to get a hold of arrival notices for containers. His predecessor, Governor Nestor A. Bello belied the allegation of the labor sector and said the MOU actually aims to encourage senators to pass the SOT bill by showing that employers are willing to voluntarily regularize their contractual workers. The economists also do not see any way around the situation. Senate President Vicente C. Zapata said the processing by shipping lines for arriving containers has also added to congestion in the ports. Camarines Sur Rep. In the same interview, Lacson confirmed that senators from the majority and minority blocs are behind in affirming their position that Sotto would not sign on a document that includes what was not discussed in the bicameral talks but was included in the enrolled bill. Story on A MID issues on the lumpsum funds in the stalled P3. It is a problem since the current administration opted to finance infrastructure projects through Official Development Assistance ODA and the national budget. Sotto III will not sign the enrolled bill because of this, stalling the endorsement of the budget to President Duterte for signing into law. In its monthly grains report, the USDA projected that rice exports to the Philippines would expand by 4 percent to 2. He was unfazed by Sen. He said if the current administration only considered undertaking more publicprivate partnerships PPPs to finance its infrastructure projects, this problem could have been avoided. In terms of penalties, it was pointed out that P10, per day is charged for the delay in the release of a footer container and. Inflation came from a peak of 6. HE Senate and the House of Representatives appeared headed for a standoff over last-minute changes in the P3. Why hostage the national budget over unfounded and unreasonable fear? The economic losses daily from extending the period of the reenacted budget till August , according to initial DOF estimates cited by Sen. It is available to accept all empty containers due for return. Lacson spending by P46 billion, which will affect the growth in gross domestic product GDP. Port congestion. Chikiamco said one immediate impact on government spending is the slower implementation of BBB projects. Even a supplemental budget, they said, would have little effect on speeding up government spending for infrastructure projects. In his first press conference, Diokno talked about the downward trend of the inflation path and its possible implication in the monetarypolicy meeting. Erastus Sandino B. And for good reason, because the Constitution clearly states that after a bill is passed on last reading, no further amendment may be introduced. That means lower growth as our growth is still driven by government spending. Reached separately by phone, Finance Secretary Carlos G. In a news conference on Friday in Manila, CTAP members said the shipping lines doing business in the country need to have their own container yards for storing empty containers, which will free up space at the ports and ensure a seamless operation for truckers. Ana said even if a supplemental budget is approved, there has already been a delay. Lacson Sr. For the full-year , GDP growth also decelerated to 6. Despite the anticipated increase in imports, the USDA maintained its rice output forecast for the Philippines at We now expect CPI inflation to average 2. P5, for a footer container at the ports. Andaya Jr. This insistence on tinkering unilaterally with the budget bill after its ratification in plenary by both chambers opens up the House to liability for falsification of public documents, as these are records of the legislative process, Lacson warned in a radio interview on Sunday. According to Andaya, the proposed General Appropriations Act, when ratified by the Senate and the House of Representatives, contained lump-sum funds that needed to be further itemized by both houses of Congress. It can also be interpreted as a conspiracy to use the budget for partisan purposes in this election period. Bello III last month. The USDA attributed the hike in imports to the implementation of the rice trade liberalization RTL law, paving the way for a new trade regime for the Philippines. As such, Narayanan said they are also revising their inflation forecast for the Philippines, to take into consideration the faster-than-expected slowdown in the growth of consumer prices in the country. Socioeconomic Planning Secretary Ernesto M. Appropriations on Sunday reiterated there is nothing illegal in itemizing the national budget even after its ratification by both chambers of Congress. Espenilla Jr. Worse, it shows that the Executive is weak, and that can have repercussions on other reforms as well that require legislation.