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BusinessWorld
June 10, 2021 | 12:02 am
REUTERS
YIELDS ON THE central bank’s term deposits increased on Wednesday due to concerns over US inflation, which could affect the US central bank’s future policy path, and as the market priced in a possible easing in restriction measures due to the decline in the daily tally of local coronavirus cases.
Demand for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) amounted to P599.126 billion on Wednesday, going beyond the P520 billion on the auction block and the P572.605 billion in bids logged last week.
Broken down, tenders for the seven-day term deposits amounted to P140.165 billion, lower than the P150-billion offer as well as the P158.544 billion in bids seen during the previous auction.
May inflation steadies at 4 5% - BusinessWorld bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published May 6, 2021, 10:58 AM
The National Economic and Development Authority (NEDA) raised the need to urgently augment the local pork supply through importation, noting that the meat remained as the top contributor to inflation last month.
Socioeconomic Planning Secretary Karl Kendrick T. Chua said the temporary reduction of pork tariffs and the increase of its minimum access volume (MAV) will immediately curb the rising pork inflation for the benefit of some 100 million Filipinos.
Socio Economic Planning Secretary Karl Kendrick Chua (FACEBOOK/ MANILA BULLETIN FILE PHOTO)
“Meat has been persistently the top contributor to inflation this year, hence we urgently need to temporarily augment our pork supply through importation. Retaining the status quo will cause 100 million Filipinos to suffer longer from high food prices,” Chua said in a statement.
BusinessWorld
May 6, 2021 | 8:01 pm
REUTERS
THE agriculture industry said the governmentâs decision to moderate drastic tariff reductions represents a âmoral victoryâ for hog raisers, who will need to compete with the increased volume of imports.
The Samahang Industriya ng Agrikultura (SINAG) said in a statement on Thursday that the Department of Agriculture (DA) also needs to revoke all sanitary and phytosanitary import clearances that had been issued under the original terms of Executive Order (EO) 128.
âThis is a moral victory for the local hog industry and a slap in the face of the pro-importation and anti-local hog raiser Secretary of Agriculture,â SINAG said.