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Philippines may be out of recession in Q2 but recovery prospects still dim
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Philippines out of recession but recovery hopes dim
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Full utilization of Bayanihan 2 funds would have reduced PH economic contraction, says lawmaker
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Metro Manila (CNN Philippines, February 10) The impact of the economic decline in the Philippines would not have been as bad had the government been more aggressive in the disbursement of the ₱162.5-billion funds under the Bayanihan to Recover as One Act or Bayanihan 2, a congressman said on Wednesday.
Marikina Rep. Stella Quimbo said economic contraction would have been reduced from 9.5% to 8.2% in 2020 if only the government was more transparent in the utilization of the Bayanihan 2 funds. She also said that more than ₱252 billion or over 1.3% would have been added to the country s gross domestic product last year had the funds been disbursed faster.
Good News Pilipinas
BPI: Strict biosecurity needed to survive and thrive amid African Swine Fever
The Bank of the Philippine Islands (BPI) says hog raisers in the country need to improve their risk management standards and sustainability consciousness and that they must push for a stricter biosecurity program as the African Swine Fever (ASF) outbreak continues to hound the Philippine agriculture.
ASF has already taken a big toll on the country’s pig population. The key to surviving this hog epidemic is a well-studied and properly implemented biosecurity program that will help hog raisers set up practicable measures to prevent or control the spread of infection within a pig farm, said BPI Sustainable Development Finance (SDF) Head Jo Ann Eala.