Friday, 28 April 2017 Brussels Belgium
3rd Quarter 2013 Performance of PH Economy
Friday, 29 January 2016 14:17    Bookmark and Share PDF Print E-mail

STATEMENT OF SEC. BALISACAN ON THE 2013 3RD QUARTER PERFORMANCE OF THE PHILIPPINE ECONOMY

We are pleased to report to you that the Philippine economy grew by 7.0 percent this third quarter. This is the fifth consecutive quarter that growth is at least 7.0-percent, buoyed by the expansion in consumer spending, higher business and consumer confidence, favorable interest rates, stable inflation, strong inflows of overseas Filipinos remittances, high inbound tourism, and an optimistic domestic economic outlook. Our country remains as one of the best performing economies in the region for the quarter, second only to China, and outpacing Indonesia, Viet Nam, Malaysia, and Thailand. Moreover, growth for the first nine months of this year reached 7.4 percent from the same period in 2012, still above the 6-7 percent target that the Development Budget Coordination Committee or DBCC has set for 2013. This implies that the Philippine economy only needs to grow between 2.0 and 5.7 percent in the fourth quarter of 2013 in order to attain the DBCC growth target for the whole year.

Needless to say, we need to remind ourselves that we need to work even harder to ensure that our gains are robust even as we face various threats and risks.

The best example of how disasters can set back economic gains is the performance of the agriculture sector, where output marginally increased by 0.3 percent. On the other hand, the trend in the fisheries sector demonstrates that adaptation can yield positive outcomes. The bottomline, however, is to increase the resilience of families, for which income diversification is key.

On a positive note, there are evidences that we are on track with respect to rebalancing the economy towards an investment- and industry-driven growth from a consumption-led one. Capital formation, which grew by 15.6 percent, has sustained its double-digit growth since the first quarter of this year. Investment in durable equipment jumped to a 22.3-percent growth, driven by expectation of higher demand for transport services particularly air transport, supported by our campaign to promote tourism as a major driver of economic growth. On the supply side, we note the high growth of the industry sector, 8.2 percent from 7.1 percent for the same period last year. This is backed by the manufacturing sector's further expansion to 9.7 percent for the period, which is supported by the 135.2-percent growth in chemical and chemical products. It should also be noted that the manufacturing subsector appears to have inched towards diversification and away from previous concentration on food manufactures. The next strong contributors to growth during the period were basic metal industries, furniture and fixtures, and non-metallic mineral products.

Despite the good performance in the third quarter, however, the combined effects of the powerful earthquake that hit Central Visayas; Typhoon Santi that swooped down Central Luzon, and Typhoon Yolanda that had a devastating impact in Eastern Visayas, Central Visayas and parts of Region IV-B, are expected to shave off a part of growth in the fourth quarter. We also realize that this adverse impact could linger unless we immediately implement reconstruction efforts. To date, NEDA estimates that the combined impact of these disasters could reduce the full-year 2013 real GDP growth rate by 0.5 percentage points. Thus, the recovery and reconstruction plan has to be systematically executed and managed well.

Yesterday, we presented to the President a set of critical immediate actions which form part of the plan for the rehabilitation and recovery of the areas affected by Typhoon Yolanda. The discussions focused on the need to provide more secure shelter, revive economic activity, and restore public infrastructure and facilities. It is important to complete these critical immediate actions as soon as possible knowing the social costs involved if we delay. The actions will also create the enabling environment for private sector to come in and accelerate economic recovery.

Let me also state that the recovery and rehabilitation plan is a product of inter-agency collaboration, with some help from our development partners. Even then, we realize that this should be considered a work in progress as different government agencies continue to conduct damage and loss assessments, gathering more detailed information and validating available data. The comprehensive plan includes immediate, short-term, medium-term as well as long-term interventions to help the affected families and local economies get back on their feet. The President's instruction is for us to "build back better." Through unified and well-coordinated efforts, we will once again prove the world our utmost resilience amid this adversity.


 

Philippine Embassy in Brussels

 

297 Avenue Moliere, 1050 Brussels
E-mail: consular.brusselspe@gmail.com

Consular matters: (+32) 02 340 33 73 
Consular matters: (+32) 02 340 33 74

Trunkline: (+32) 02 340 33 77 to 78

Fax Number: (+32) 02 345 64 25
Duty Officer: (+32) 0488 609.177
E-mail: brusselspe@gmail.com

Hours

Operating Hours of the
Consular Section

- Assessment and processing of application for a travel document is from 9:00 a.m. to 3:00 p.m.

- Mondays to Fridays (except Belgium & Philippine declared holidays)

Note: Applicants should come appropriately attired.

 

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HOLIDAYS

In view of the observance Philippine and Belgian holidays, the Embassy will be closed to the public on the following days:

  • 01 May 2017, Monday - Labor Day
  • 25 May 2017, Thursday - Ascension Day
  • 05 June 2017, Monday - Whit Monday
  • 12 June 2017, Monday - Philippine Independence Day

For urgent matters, please call the Embassy's Duty Officer Phone: 0488-609-177. Thank you.

 

2017 Declared Holidays

Trade & Investment Center

Jose Antonio S. Buencamino

Commercial Counselor
Avenue Louise 207, Bte 5B, 1050
Brussels, Belgium View Map
Tel: +32 2 649.44.00 / 649.89.48
Fax: +32 2 649.89.40
E-mail: brussels@dti.gov.ph
Web: www.dti.gov.ph

 

 

 

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ANTWERP

PETER VAN BOGAERT
Consul General, a.h.

Venneborglaan 90, 2100 Deurne, Antwerp
E-mail: pb.vanbogaert@skynet.be
E-mail: aguansing@skynet.be
Tel No./Fax (03) 325.71. 16

LUXEMBOURG

ALAIN KINSCH
Consul General, a.h.

New Ernst & Young Bldg.35E Avenue John F. Kennedy 2L-1855 Luxembourg
Tel. No. (+352) 42 124 8444
(+352) 42 124 84 06 
Email: alain.kinsch@lu.ey.com

 

 

Agricultural Office

Jose I.C. Laquian

Agricultural Attaché
Tel:  +(32) 02 340 37 90 
Fax: +(32) 02 343 02 69
E-mailagribxl@gmail.com
For more information on the Philippine agricultural sector, please visit the following website: www.da.gov.ph

 

OV and other Advisories

GUIDELINES ON THE AVAILMENT OF AWARDS AND INCENTIVES FOR OVERSEAS FILIPINO CENTENARIANS UNDER R.A. 10868 AND ITS IMPLEMENTING RULES AND REGULATIONS

 

PUBLIC ADVISORY ON DELAYS IN RELEASE OF PASSPORTS

The Department of Foreign Affairs requests the public's kind understanding on the ongoing delays in the release of passports. These delays are due to technical issues on the part of the company printing the passports.

Those with immediate travel plans are advised to wait until their passports are released before confirming their flights.

Please  be  assured  that  the  Department  is  exerting  all  efforts  to  ensure  the resumption of normal services as soon as possible.

OV MATTERS

List of OV in Belgium and Luxembourg whose registration will be deactivated by the RERB in OFOV for failing to vote in the last two consecutive elections (2013 and 2016).

List of Printed IDs of Voters registered in Belgium recently received from COMELEC (available at the Embassy)

List of Printed IDs of Voters registered in Luxembourg recently received from COMELEC (available at the Embassy)

INFOMERCIAL:   REGISTER AND VOTE

Notice of Hearing

 

 

 

 

 

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