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(Eagle News) — For the Palace, a “reenacted budget as a result of budget impasse” will ultimately hurt the country’s economy. In a statement issued on Thursday, Jan. 31, Presidential Spokesperson Salvador Panelo said it would, after all, “translate to lost opportunities for higher growth..” He said economic managers were “estimating a loss of 1 to 2.3 percentage points in the full-year gross domestic product” in the event the 2019 budget is not passed. He […]
(Eagle News)–Rep. Rolando Andaya Jr. on Saturday, Jan. 26, reiterated his call for Budget Secretary Benjamin Diokno to attend a House of Representatives’ panel inquiry into alleged anomalies in the national budget. Andaya renewed the call following what he said were “developments” that include Public Works Secretary Mark Villar supposedly confirming on record what he has been saying all along—that “Diokno was the mastermind behind the P75-billion insertion in the DPWH (Department of Public Works […]
by Catherine TRIOMPHE Agence France Presse NEW YORK, United States (AFP) — Most never needed help from a food pantry. But a month since the US government shutdown began, dozens of federal employees have been lining up in Brooklyn for basics. Customs, tax and emergency management officials are all among the crowd, having gone unemployed since December 22. Others deemed “essential” like transportation workers or prison guards are forced to continue working without pay, taking […]
(Eagle News) — The Senate approved on third and final reading on Monday, January 21, the proposed P3.757 trillion national budget for 2019 with 14 senators voting in favor of it. There were no abstentions, and no negative votes. Senate President Vicente “Tito” Sotto III said that with the passage of the budget, the Senate hopes this will reach President Rodrigo Duterte for his signature by the first week of February. The Senate approved the […]
by Michelle FITZPATRICK / Tom BARFIELD Agence France Presse Official data suggested Tuesday that Germany avoided a recession at the end of 2018 but confirmed a sharp slowdown in growth last year as Europe’s largest economy cooled off from boom times. Economic growth sank to 1.5 percent in 2018 from 2.2 percent in the previous two years, federal statistics authority Destatis said. In absolute terms, Germany’s 2018 GDP was around 3.4 trillion euros ($3.9 […]
by Michelle Fitzpatrick Agence France Presse FRANKFURT AM MAIN, Germany (AFP) — Germany will find out on Tuesday if Europe’s top economy ended 2018 in a technical recession, with fears over slowing momentum fuelling calls for Berlin to use its fiscal leeway to bolster growth. Federal statistics office Destatis will publish a preliminary estimate of Germany’s fourth quarter and full-year gross domestic product figures for 2018, data closely watched across the eurozone for signs […]
TOKYO, Japan (AFP) — Japan said Friday it will have to amend its upcoming budget to fund compensation for people whose benefits were underpaid for years because of a scandal involving erroneous labour data. The labour ministry admitted this week that it has for years failed to collect complete data for its monthly employment report, which is closely watched as an indicator of wages and work hours. The data helps determine various government benefits, including […]
(Eagle News)–President Rodrigo Duterte has signed a joint resolution extending the validity of key components of the 2018 national budget until Dec. 31, 2019. Executive Secretary Salvador Medialdea made the announcement in a message to reporters on Thursday, Jan. 3. According to Medialdea, in particular, the President signed Joint Resolution No. 3 that extends the validity of the “MOOE and CO components of the 2018 GAA (General Appropriations Act) Joint Resolution Extending the Availability of the […]
by Michael Mathes Agence France Presse WASHINGTON, United States (AFP) — An intensifying spending standoff sent US lawmakers scrambling Monday to avert a partial government shutdown, with Republican and Democratic leaders deadlocked over President Donald Trump’s demands for border wall funding. As Washington barreled toward a shuttering of key federal agencies in just four days, the White House appeared dug in on Trump’s call for Congress to budget $5 billion in 2019 to fund a […]
DOHA, Qatar (AFP) — Qatar, the world’s largest exporter of liquified natural gas, will run its first budget surplus in three years in 2019 due to higher energy prices, a government statement said Thursday. The surplus will reach 4.3 billion Qatari riyals ($1.2bn, 1 billion euros) because of an expected sustained rise in prices. The statement also said Qatar would delay plans to introduce a value-added tax (VAT), initially anticipated for this year. But it […]
(Eagle News) — Senator Panfilo Lacson on Thursday, Dec. 13, urged Executive Secretary Salvador Medialdea not to endorse Budget Secretary Ben Diokno’s possible recommendation for a special session to allow for the passage of the national budget for 2019 before the year ends. Lacson made the appeal during the plenary deliberation on the P6.773-billion proposed budget for the Office of the President and its attached agencies. The Senate and the House of Representatives are slated to […]
(Eagle News)–Senator Panfilo Lacson urged the reduction or removal of what he said were uncalled for congressional insertions worth P4.3 billion in the House version of the proposed P3.7-trillion budget for 2019. Lacson made the statement after House Majority Leader Rolando Andaya Jr., also Camarines Sur’s first district representative, said the allocations — allegedly P2.4 billion worth of projects in House Speaker Gloria Macapagal Arroyo’s second district in Pampanga, and P1.9 billion in projects in Andaya’s province — […]
