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Agriculture sector expands 3.5% in H1
14 August 2007 – According to the Department of Agriculture, the agriculture sector grew 3.5% in the first half of 2007, but this is significantly slower than the 5.24% growth experienced in the first half last year. Agriculture Sec. Arthur Yap said the government has been doing its best to help farmers recover from losses brought about by the recent dryspell, including implementing quick turnaround schemes for rice and corn.
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Forex rate and foreign reserves level
hit new highs
7 February 2007 – Foreign investments, overseas Filipino workers’ remittances, and exports continued to keep the peso-dollar rate strong. The domestic currency closed to a six-year high of P48.365 against the U.S. greenback at the Philippine Dealing System.
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Philippine population at 88.57 million in 2007
16 April 2008 – The National Statistics Office released today the final results of the 2007 Census of Population, which placed the Philippine population at 88,574,614 as of 1 August 2007. The count is 12 million higher than the recorded 2000 figure of 76.5 million, translating to an average annual population growth rate of 2.04%.
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DENR approves new Rizal landfill
18 January 2008 – To avoid a garbage crisis, the Department of Environment and Natural Resources has issued the Rizal province a permit to operate the new 19-hectare sanitary landfill in Rodriguez, Rizal
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Impact of a re-enacted budget 14 June 2006 – The congressional bicameral conference committee’s discussions on the 2006 budget hit a stalemate after members of the Senate refused to restore a P64 billion cut on the P1.053 billion budget proposed by Malacañang and approved by the House of Representatives.
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Car sales top 100,000-unit mark in 2007
10 January 2008 – The Philippine car manufacturing industry exceeded its full-year sales target of 108,000 units in 2007. This is also the first time the industry has gone past the 100,000-unit mark in a decade.
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BPO revenues and employment up in 2007
18 January 2008 – Despite the threat of the strengthening peso, the country’s business process outsourcing sector still achieved its target of a 40% growth in revenues in 2007.
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$271.8M net outflow of hot money in January–May
17 June 2008 – In the first five months of the year, Bangko Sentral–registered foreign portfolio investments posted a net outflow of $271.8 million, a stark contrast to the $1.7 billion net inflow in the same period last year.
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| Unemployment and underemployment worsen in April
18 June 2008 – In the April 2008 Labor Force Survey released by the National Statistics Office, the unemployment rate, or the proportion of persons without a job or business and who are actively looking for work, reached 8%, higher than the 7.4% posted in the April 2007 labor survey.
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| Property sector posts 18.6% growth
in Q1
11 June 2007 – The bullish property sector continues to soar, posting an 18.6% year-on-year growth in the first quarter. The gross value added of real estate in the first quarter amounted to P16 billion, reflecting the continuing expansion of the industry.
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January–July infrastructure spending below target
22 August 2007 – According to the Department of Budget and Management, the government disbursed P653.6 billion for infrastructure and other public services in January to July. This is P43.7 billion below the programmed spending of P697.3 billion, a target that was set to support the goals of the Arroyo administration’s super regions and “social payback” programs.
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Tourism receipts hit US$4.9B in 2007
11 January 2008 – The Philippines' international tourism receipts reached US$4.9 billion in 2007 as the tourism industry reached a new high in visitor arrivals with 3,091,993 visitors compared to 2,843,345 in 2006.
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Merchandise imports grows 5.3% in dollar terms, drops 1.9% in peso equivalent
25 April 2007 – Merchandise imports growth accelerated by 5.3% in January to February from 4.8% a year ago as the average peso-dollar rate appreciated 6.8% to P48.65/US$ from P52.22/US$ a year ago.
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PUV fares go up
8 July 2008 – A new round of public transportation fare hikes was approved today by the Land Transportation Franchising and Regulatory Board and will take effect on 14 July after new guidelines have been completed and issued to jeepney and bus operators nationwide.
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Oil firms roll back gas prices by P1 a liter
10 July 2008 –Effective today, Chevron, Petron, Shell, Total, Unioil, and Flying V are slashing their gasoline prices by P1 a liter. The rollback will not make much of an impact on soaring pump prices, but after the 18 price hikes so far since January, any rollback is a welcome respite for motorists.
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