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High fuel prices sap economic optimism among Filipinos

April 16, 2011

MALACANANG said Thursday that a drop in optimism among Filipinos can be traced to oil price hikes, which it is already trying to address.
A Social Weather Stations (SWS) survey in March found that fewer respondents felt that their lives would improve in the next 12 months.
From a “very high” net personal optimism rating of +35 in November, the SWS survey reported a “high” of +24.
Optimism for the economy also fell from +30 in November to +4 in March.
Presidential Communications Operations Secretary Herminio Coloma Jr. said the results were expected considering the period the surveys were conducted.
He said the survey was conducted at a time when “the most dominant event is the oil price hike,” he said.
“They also have a chart that shows the survey conducted during the previous administrations, and I noticed that every time the oil prices increase or there is a spike in oil prices, the level of optimism is affected,” he added.
Coloma said the government is studying options to mitigate the impact on the public of continuing oil price hikes.
He welcomed the survey results, saying “those optimism or attitude ratings are very helpful because we look at this as an impetus for us to intensify our efforts to implement the programs of government that we have committed ourselves to.”
One of those programs is a subsidy intended to lighten the burden of rising fuel prices on drivers and operators of public utility vehicles.
President Benigno Aquino III said earnings from the Malampaya natural gas project in Palawan could be used to fund the subsidy.
However, Senate President Juan Ponce Enrile has advised caution on using Malampaya funds, saying the money has been earmarked for oil and gas exploration.
He added reallocating the money might need approval from the legislature.
“You cannot pay out money from the Treasury without an appropriation authorized by Congress. I’m sure that they know what they’re doing but I’m just cautioning that they should be very very careful,” he said. (Jill Beltran/Virgil Lopez/Jonathan de Santos)

Source: http://www.sunstar.com.ph/manila/local-news/2011/04/15/high-fuel-prices-sap-economic-optimism-among-filipinos-150660

Philippines Clark Freeport offers attractive investment opportunities. Assistance in law, taxes and other business and investment matters can be obtained from Clark Business and Investment Assistance.

Clark Philippines operates under a slightly set of rules from the rest of the country. There are many advantages but as usual, there are also areas that investors need to be well apprised to avoid unnecessary problems.

Clark Freeport Zone offers many attractive incentives that collectively make it a good business investment opportunity as well as a wonderful choice for semi- or full-retirement. In addition to the tax incentives of a Freeport Zone, Clark has a remarkably good record in terms of crime rate. In fact, there is no recollection of any major crimes inside Clark Freeport Zone at all and even minor crimes are rare and far between. Whereas traffic and pollution are two major deterrents to retiring, living or setting up a business in major cities in the Philippines such as Manila and Cebu, Clark Freeport are not marred by these problems. Clark is blessed by good infra structures left behind by the Americans built when Clark was their largest foreign airbase.

Investors are well advised to obtain legal counseling as the first step of their exploration of investment opportunities in Clark Freeport. Clark Business and Investment Assistance is well experienced to offer this service to would-be investors – called locators. This outfit can also address tax concerns but more importantly helps investors navigate the tricky waters of finalizing a deal.

This web site contains articles and information that will be helpful to visitors, residents and tourists traveling out of town from Manila on a short getaway to Subic, Angeles City, Pampanga and Clark Philippines. There are several web sites that contain information that might also be pertinent to what is happening in North Luzon.

For assistance with organizing and planning weddings and garden receptions, log on to http://www.PhilippinesWeddingVenue.com

For assistance with lodgings, accommodations, hotels and resorts near Manila in Subic, Pampanga, Angels City and Clark Philippines log on to http://www.HotelClarkPhilippines.com


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Saturday, April 16, 2011 About the Philippines

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