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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
Tourism showroom in Makati. (PNA)

Tourism showroom in Makati. (PNA)

S&P: PHL demographic profile to help boost economic growth

MANILA, (PNA) -- Benefits of having a young population will help bouy the Philipppine economy this 2016 and counter the impact of negative external environment, a Standard & Poor's (S&P) report said.

"The growing and increasingly educated middle class, combined with a booming outsourcing industry, continues to boost consumption and investment," S&P said in its "Economic Research: APAC Economic Snapshots" issue for September 2016.

The demographic profile is in addition to the improvement in the country's economic fundamentals, it said.

These fundamentals, it said, "continue to drive a strong domestic demand story, as indicated by nearly seven percent growth in the first half of the year."

The domestic economy grew, as measured by gross domestic product (GDP), by seven percent in the second quarter this year, up from the previous quarter's 6.8 percent and year-ago's 5.9 percent.

Still, the services sector contributed the biggest share after rising by 8.4 percent from quarter-ago's 7.6 percent and year-ago's 6.7 percent.

The industry sector registered a slower growth of 6.9 percent from the previous quarter's nine percent. It is, however, faster than the 6.1 percent output in the second quarter of 2015.

On the other hand, the agriculture sector posted a negative growth of 2.1 percent, which in turn is slower than the quarter-ago's -4.4 percent. Year-ago, the sector posted a 0.1 percent contraction.

In the first half of the year, the economy expanded by 6.9 percent, near the upper end of the government's six to seven percent growth target this year.

The report said the country's demographic profile is seen to help fuel domestic expansion to "around 6.5 percent over the next few years, despite significant headwinds from sluggish external demand."

The report said the Duterte administration's economic policies "appear sound" as it focus on several areas such as education and infrastructure.

It, on the other hand, cited that "international investors may be getting worried about potential diplomatic complications and short-term law and order issues on the ground."

This risk is the only domestic factor the credit rater considers for the country.

"The main downside risks to the Philippine economy continue to come from external factors, such as a sharper-than-expected downturn in China or repeated bouts of market turbulence," it added. (PNA)