THE prices of local goods and commodities will grow slower than earlier expected for the year, the Bangko Sentral ng Pilipinas (BSP) said after the Philippine Statistics Authority (PSA) announced a slowdown in inflation in April.

In a statement on the medium-term inflation, the BSP said their latest models indicate that inflation could settle at the low end of the government’s target range at 2 percent on average for this year. This is lower than the earlier 2.2-percent forecast for 2020.

Businessman Manuel V. Pangilinan said more investments in the country’s  telecommunications infrastructure to cope with the so-called “New Normal,” as companies roll out strategies that will shield their employees from coronavirus disease 2019 (Covid-19).

Pangilinan, managing  director and CEO of Hong Kong-based First Pacific Co. Ltd., said there would be change of attitude and behavior among the working class, driven mostly by fear of the quarantine implemented by the government as a means to control the spread of Covid-19.

AN economist-lawmaker on Monday revealed that the country loses around P18 billion for each day of lockdown, especially amid coronavirus fears that would hinder an effective reopening of the national economy.

With this, Marikina Rep. Stella Luz Quimbo, co-chairman of House Defeat Covid-19 Committee economic cluster, stressed the need for the passage of an economic stimulus plan to effectively restart the opening of the economy.

PROPOSED spending measures laid out in the stimulus bill currently in Congress will increase the budget deficit as a proportion of Gross Domestic Product (GDP) to about 6.5%, more than double the level considered prudent, a former socioeconomic planning secretary said.

THE Asset magazine cited Bank of the Philippines Islands (BPI) Lead Economist Emilio Neri Jr., as the Philippines’ Best Local Currency Bond Individual in Research for 2019.

In the Asset Benchmark Research Awards, Neri was given “Rank 1”, which is the first time such ranking was topped by a local bank.

Having been acknowledged as one of the best in the industry, Neri was recognized by institutional investors to be among the top economists who made accurate forecasts for economic and financial market indicators.

Conclusion

Part One

Recent policy discourse in the Philippines is revolving around what seems to be buzzwords: industry 4.0 and climate resiliency. The common denominator between this unlikely pair is straightforward. Both topics require policy-makers to not discount the future. While one warns about climate-change impacts on vulnerable populations, the other warrants concerns on potential labor displacement if Filipino companies choose to automate as the world gears up for industry 4.0.

The Philippine Economic Society (PES) formally inducted Batch 2019 of the Young Economists Honor Society (YEHS) program during the closing of the 57th PES Annual Meeting and Conference on 07 November 2019 at the Novotel Manila, Araneta Center, Quezon City.

The YEHS is an annual recognition given since 2017 by the PES to the top graduates of economics and economics-related programs offered by higher education institutions in the Philippines.

Around 300 economists and allied professionals attended the 57th Annual Meeting and Conference of the Philippine Economic Society on 07 November 2019 at the Novotel Manila, Araneta Center, Quezon City, with the theme, “Rethinking Development Strategies: Integrating Technology, Promoting Competitiveness, Reinvigorating Industries.” 

This year’s conference theme reexamined current development paradigms in light of advances in digitalization, computing, and artificial intelligence, which are expected to reverberate throughout the macroeconomy.