AT P44.11/$1
MANILA, DECEMBER
15, 2011 (BULLETIN) The peso exchange rate closed lower at P44.11
to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx)
from P43.88 the previous day. The weighted average rate depreciated to P44.111
from P43.866. Total volume amounted to $1.260.21 billion.
B.S.P. keeps cautious policy stance
The Bangko Sentral ng Pilipinas (BSP) is ready to support economic growth if
needed, saying yesterday that monetary settings would be responsive to global
economic developments provided inflation remains under control. BSP Governor
Amando Tetangco said the Federal Reserve's assessment of moderate expansion in
the US economy supported the Philippines' ''cautious monetary policy,'' and
validated policymakers' view that global economic recovery depended on how fast
the debt crisis in Europe is resolved.
''The BSP's monetary settings will be responsive to these developments. We
will endeavor to support economic growth while maintaining a non-inflationary
operating environment,'' Tetangco said.
85% of stimulus plan disbursed
The Department of Budget and Management (DBM) said bulk of the government's
Disbursement Acceleration Plan has already been released to agencies and
state-owned and -controlled corporations as of December 6.
Budget and Management Secretary Florencio B. Abad said that P61.28 billion,
representing 85 percent of the P72.11-billion package has been disbursed in line
with the government's goal to step up spending before the year-end. (CSL)
House okays bill creating D.I.C.T.
Congress has recently passed on third reading House Bill 4667, creating the
Department of Information and Communications Technology (DICT), to develop and
implement policies and government programs that would boost and improve the
country's competitiveness in the IT field.
Taguig 2nd District Rep. Freddie Tiñga, chair of the House ICT Committee,
said that approval of the bill will solve the country's need for a solid agency
that would focus more on the development of IT and modern communication
facilities. (EHL)
S.H.D.A. sees stronger Pag-Ibig links
The local housing sector is looking forward to a more productive year as the
Subdivision and Housing Developers Association (SHDA) reiterates its support to
Home Development Mutual Fund's (Pag-IBIG) proposed programs for 2012.
Chief News Editor: Sol Jose Vanzi
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