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Philippines News Agency

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The Philippines News Agency

The Philippines News Agency (PNA) is a web-based newswire service of the Philippine government. The PNA Headquarters are housed at the 2nd floor of the PIA building along Visayas Avenue, Quezon City. PNA's website address is http://www.pna.gov.ph

It has been 35 years since PNA was launched in an era when newswire operations relied mainly on teletype machines and typewriters. PNA has steadily paced the highly competitive and changing arena of Philippine journalism; it is now slowly but surely coming to par with the challenges posed by the globalization of media communications. This has deeply shaped modern journalism and the news media organizations that have been instrumental in creating the very conditions that made globalization a reality.

PNA has evolved today as an Internet-based news service agency that caters to the global demand for news and information to its subscribers, readers and a host of other clients. PNA's mission is spelled out clearly: to provide the government, the Presidency, the public, as well as its media and non-media clients, both local and foreign based, sober, factual, impartial and objective news and information. PNA provides news 24/7, including photos of major events, feature stories, sports news and events, local and global opinions, general information, as well as global news and feature stories. PNA employs about a hundred journalists and stringers across the country, with several foreign-based correspondents.

PNA beat reporters and stringers are deployed practically in every government office and agency, including the main offices and camps of police and security forces, to provide news 24/7 for local, regional and global subscribers and readers. PNA likewise maintains active news exchanges with news agencies of ASEAN member-countries and the Organization of Asia-Pacific News Agencies (OANA).

Philippines News Agency
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Latest Press Release
President Aquino delivers his speech during the International Information Technology-Business Process Management (IT-BPM) Summit (IIS) 2014. (PNA)

President Aquino delivers his speech during the International Information Technology-Business Process Management (IT-BPM) Summit (IIS) 2014. (PNA)

Expected weaker global growth in ’15 to offset upside risks to inflation

MANILA, (PNA) -- The power rate hike petitions are among the upside risks to the Philippines’ inflation rate in 2015 but a central bank official said the expected weaker global growth is projected to provide counterbalance.

The Bangko Sentral ng Pilipinas(BSP) forecasts inflation to average at 4.5 this year, 3.8 percent in 2015, and 3.3 percent for 2016.

BSP Deputy Governor Diwa Guinigundo told reporters Tuesday that these projections remain within the three to five percent target for this year and the two to four percent target for the next two years.

He said although there are a lot of upside risks to inflation next year such as the electricity-related factors, these are expected to be offset by the projected weaker global growth, which in turn will lower demand as well as prices of commodities.

He said government’s efforts to ensure supply of basic commodities through the purchase of about 500,000 metric tons of rice from Thailand and Vietnam and addressing of the port congestion issue are also expected to lessen risks to inflation.

Another factor is the onset of the harvest season, which will bring in additional supply of commodities like rice.

“So harvest season, higher rice importation and much less port congestion, I think will help bring about a more conducive inflation environment,” he added. (PNA)