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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
www.pna.gov.ph
pnadesk@yahoo.com
+63 352 43 28,
+63 352 43 34,
+63 352 43 35
Latest Press Release
Leadership in the judiciary in the context of ASEAN Integration. (PNA)

Leadership in the judiciary in the context of ASEAN Integration. (PNA)

Exports, consumer spending seen boosting PHL economy in 2015

MANILA, (PNA) -- The Philippine economy is expected to strengthen its growth this year on the back of robust consumption and exports data.

“We expect more bubbly consumer spending in the coming quarters as a result of high job generation and drastically lower inflation due to the collapsing crude oil prices,” said a joint report by the First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P).

It said that while the free-falling crude oil prices have markedly changed the outlook for emerging countries, the Philippines is one of the countries predicted to benefit from the “new normal”.

Crude oil prices have hit five-year lows and not expected to recover any time soon.

The latest issue of the Market Call noted that investments should also regain buoyancy as lower oil prices mean better profits.

“...And construction regains momentum with a bunch of large PPP (public private partnership) projects finally taking off,” it said.

The government targets to roll out nine PPP projects with combined costs of Php702.78 billion in 2015.

The FMIC and UA&P also expect a further sustain export expansion at double-digit pace this year, bolstered by low oil prices and the recovery of the United States (US) economy. The US is one the country’s largest export markets.

The report sees headline inflation averaging 2.4 percent in first quarter of the year with the continuing weakness in crude oil prices, which also impacts on food prices and other consumer goods.

“This low level of inflation is expected to span the whole of first half (of 2015),” it added.

Meanwhile, the FMIC and UA&P said the Philippine economy is poised for a recovery starting fourth quarter if the economic data released in December were to be replicated for the rest of the quarter.

The government will release its 2014 economic report this week. (PNA)