Photo show the skyscrapers of the Ortigas Center in the central business district as seen from Pasig City on January 9, 2024 afternoon.
In the next year as the economy was reopened from the strict pandemic health restrictions, public and private spending resumed and domestic output started to recover. Output accelerated and lifted the economy again. It emphasizes the continuation of the investment program on infrastructure, focusing on good job creation and the reduction of poverty. The year-on-year growth targets are ambitious, aiming to achieve by the latter year a 6.5 percent to 8 percent annual growth.
A major enabling support to this development plan is to expand the infrastructure program of the government. The infrastructure investment program that escalated in the previous Duterte administration is being sustained and expanded by the current plan. These external disturbances can be troublesome to our economic performance. So long as they do not seriously disrupt our economic fundamentals, they can be seen only as factors to take seriously into account. Yet, they can help reduce for some types of countries a percentage or half a percent from their potential economic growth.
Even as the Ukraine war has dragged on without full resolution, new and serious threats to world peace have occurred.The direct attack of Iran on Israel’s heartland last week was massive – more than 300 missiles and drones carrying warheads – only to be neutralized by modern anti-missile systems. How Israel responds to this attack can determine whether a wider war in the Middle East will happen or not.
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