The Philippines concluded 2024 with dollar reserves over $100 billion for a second straight year, as reported by the Bangko Sentral ng Pilipinas. The reserves, comprising foreign currency holdings, government securities, gold, and IMF positions, underline the country’s robust financial standing and economic resilience.
Labor unions in the Philippines are urging the government to pause the increase in SSS member contributions, emphasizing worker welfare and legal obligations. This highlights ongoing discussions about balancing social security funding and worker burdens, with the government asked to play a supportive role.
The Philippine government plans to develop its maritime industry, recognizing its role in economic growth and trade. This initiative includes modernizing ports, collaborating with the private sector, adhering to international standards, and promoting sustainability. It aims to boost competitiveness, create jobs, and foster growth in the country’s maritime sector.
Gabriela party list Representative Arlene Brosas voices concerns over US naval presence near the Philippines, citing sovereignty issues amid US-Philippines military cooperation.
Gymnast Carlos Yulo is named PSA Athlete of the Year after winning two gold medals at the Paris Olympics. His achievements highlight dedication and national pride.
Calls for reform in the Philippines urge President Marcos Jr. to freeze congressional pork barrel funds, aiming to prevent election misuse and ensure transparency. The debate highlights ongoing challenges in balancing governmental oversight with local development needs.
In 2024, the Philippines showcased resilience amid challenges, from natural disasters to sovereignty threats. Armed forces, government support, and international partnerships played key roles, setting the stage for future growth.
The Bureau of Corrections has released 1,000 inmates between November and December, reaching 7,707 freed this year. This move aims to decongest prisons and aid reintegration.
The Department of Agriculture in the Philippines is planning to declare a “food security emergency” to control escalating rice prices. Agriculture Secretary Francisco Tiu Laurel Jr. is considering this step to stabilize the market amid concerns of price manipulation and inflation. The DA may use unutilized funds to buy rice and employ measures like removing brand labels on imported rice to prevent exploitation.
The COA reveals a severe overcrowding crisis in Philippine jails, with congestion rates reaching 2,827% in 2023. The report highlights issues like slow judicial processes, drug cases, and budget constraints, urging collaboration and reform to improve conditions for inmates.