Category: Economy

NEDA WELCOMES THE PASSAGE OF THE CREATE ACT

MANILA – The National Economic and Development Authority (NEDA) thanks President Rodrigo Roa Duterte and the Congress for enacting Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which will provide one of the country’s largest stimulus measures ever for the benefit of micro, small, and medium enterprises (MSMEs) that are reeling from the impact of the COVID-19 pandemic.

MORE JOBS RESTORED WITH SAFE REOPENING OF ECONOMY, ADDRESSING REMAINING RESTRICTIONS STILL NEEDED – PH ECONOMIC MANAGERS

The latest labor force survey (LFS) data show that across sectors, the country is gradually getting back the jobs lost due to the pandemic. However, the smaller progress in the past quarter suggests the need to address remaining restrictions before the economy can get closer to normal, according to the country’s economic managers in a joint statement released by the National Economic and Development Authority (NEDA).

GOV’T INTENSIFIES EFFORTS TO ADDRESS INFLATION – NEDA

While the inflation rate increased from 4.2 percent in January to 4.7 percent in February 2021, the inflation target remains at 2 to 4 percent as the government intensifies efforts to address higher food prices, said the National Economic and Development Authority (NEDA).