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Senate to evaluate government utilization of P82 5 billion for vaccination program

MANILA, Philippines The Senate will convene the Committee of the Whole (COW) to conduct a hearing on Tuesday to exercise its oversight function on the government’s utilization of its P82.5-billion budget for the vaccination program. Sen. Panfilo Lacson said the Senate COW will also evaluate the protocols and guidelines used by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF). The hearing is scheduled at 10.

Luzon may be on red alert until June 8

MANILA, Philippines The Luzon grid is expected to experience power outages until next week after another power plant bogged down yesterday, causing rotational blackouts over prolonged hours. The National Grid Corp. of the Philippines (NGCP) raised the red alert warning on the Luzon power grid from 10 a.m. to 5 p.m. and from 6 p.m. to 10 p.m. yesterday. The yellow alert notice was from 9 a.m. to 10 a.m., from 5 p.m. to 6 p.m. and from 11 p.m..

Another 35 5 million workers to get jabs with expanded A4 list

MANILA, Philippines An additional 35.5 million workers are expected to be inoculated once supply of COVID-19 vaccines are ramped up, following the government’s decision to expand the A4 priority list. The National Economic and Development Authority (NEDA) said more Filipinos can be vaccinated with the inclusion of more workers in the A4 list as adopted by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases. The A4.

Fitch Solutions cuts Philippines growth outlook to 5 3%

Fitch Solutions cuts Philippines growth outlook to 5.3% Lawrence Agcaoili © Boy Santos, file Fitch Solutions cuts Philippines growth outlook to 5.3% MANILA, Philippines Fitch Solutions Country Risk & Industry Research expects a slower economic recovery for the Philippines in the next two years as the country continues to struggle to control the resurgence of COVID-19 infections. In its latest commentary titled “Philippines’ 2021 recovery hampered by the pandemic,” Fitch Solutions said it has slashed the gross domestic product (GDP) growth for the Philippines to 5.3 percent from the original target of 5.8 percent this year and to 6.5 percent next year. The research arm of the Fitch Group expects the COVID-19 pandemic to have a lasting effect as it would continue to disrupt economic activity – at least through the first half of 2022.

Q1 GDP to disappoint

Q1 GDP to disappoint Louise Maureen Simeon © STAR/Boy Santos, file Q1 GDP to disappoint MANILA, Philippines Gross domestic product (GDP) likely inched up 0.8 percent in the January to March period, according to London-based think tank Capital Economics. “Given the spike in (COVID) cases and reintroduction of strict containment measures from the very end of March, first quarter GDP data are already news,” Capital Economics said in its weekly brief. “But for what it’s worth, we suspect they will show that the recovery was already running out of steam,” it said. Last year, the Philippines entered into a recession following consecutive quarters of decline due to prolonged lockdowns to contain the pandemic.

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