Good day. Here are the stories for The Manila Times for Monday, December 25, 2023, Christmas Day.
Today’s episode is brought to you by Wilcon Depot, The Philippines’ leading home improvement and construction supplies retailer—your Trusted Building Partner.
READ: Unprogrammed funds in budget questioned
THE progressive group Bayan Muna said the increase in unprogrammed funds beyond what was allocated in the 2024 national budget is unconstitutional and may lead to corruption. Bayan Muna issued the statement after the House Committee on Appropriations Chairman and Rep. Elizaldy Co (Ako Bicol) said President Ferdinand Marcos Jr. maintained the unprogrammed funds in the 2024 General Appropriations Act. Co said the unprogrammed funds, totaling around 800 billion pesos, will be used for anti-inflationary measures, which include the Ayuda sa Kapos ang Kita program and rice subsidies.
READ: Marcos: Spread hope to needy on Christmas
PRESIDENT Ferdinand Marcos Jr. urged Filipinos to remember the genuine meaning of Christmas and become an instrument of hope and light for those in need this holiday season. In his Christmas message to the nation, the President reminded the people to go beyond the “time-honored Filipino traditions of Simbang Gabi, gift-giving, and feasts with our friends, relatives and families” and live the true meaning the season brings.
READ: Philippines joins global coalition for social justice
THE Philippine government, through the Department of Labor and Employment, joined the Global Coalition for Social Justice for better labor and employment conditions for Filipino workers. Labor Secretary Bienvenido Laguesma, in his acceptance letter to ILO Director General Gilbert Houngbo, expressed strong support for the goals of the coalition, which are fully aligned with Philippine policies.
BUSINESS: PH growth momentum intact despite rate hikes
Topping business, aggressive monetary policy tightening has not unduly affected the overall growth momentum of Philippine economic growth, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. told reporters last week. Key interest rates have been raised by a total of 450 basis points since inflation started rising in the wake of Russia’s invasion of Ukraine. The central bank’s policy rate currently stands at 6.5 percent, the highest since 2007. Gross domestic product growth has cooled as a result, with the year-to-date average as
of end-September at 5.5 percent, much slower than 2022’s full-year result of 7.9 percent and below the 6.0- to 7.0-percent target for 2023. Analysts expect 2023 growth to average below target this year, but the government remains hopeful that holiday spending will allow the bottom end of 6.0 percent to be hit.
SPORTS: Farewell, Samboy
AVELINO “Samboy” Lim, one of the greatest Filipino basketball players of all time, has passed away at the age of 61. Lim’s family announced the news in a statement posted on his Facebook page on Saturday, December 23.
READ: Opinion and editorial
Rigoberto Tiglao, Fr. Ranhilio Aquino, and Francisco Tatad are today’s front page columnists. Tiglao and Fr. Aquino share their Christmas pieces, while Tatad continues his discussion on charter change.
Today’s editorial wants the Christmas spirit to continue amid uncertainties. Read the full version in the paper’s opinion section or listen to the Voice of the Times.
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