{"id":111870,"date":"2017-08-14T21:34:36","date_gmt":"2017-08-15T01:34:36","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=111870"},"modified":"2017-08-14T21:34:36","modified_gmt":"2017-08-15T01:34:36","slug":"neda-nothing-to-worry-about-weak-peso","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/08\/14\/neda-nothing-to-worry-about-weak-peso\/","title":{"rendered":"NEDA: Nothing to worry about weak peso"},"content":{"rendered":"<figure id=\"attachment_111872\" aria-describedby=\"caption-attachment-111872\" style=\"width: 415px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/NEDA-logo_6.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-111872\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/NEDA-logo_6.jpg\" alt=\"The NEDA chief further said it would be worrisome only if the peso falls at a sudden pace, similar to that during the second EDSA Revolution. (PNA PHOTO)\" width=\"415\" height=\"260\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/NEDA-logo_6.jpg 415w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/NEDA-logo_6-300x188.jpg 300w\" sizes=\"auto, (max-width: 415px) 100vw, 415px\" \/><\/a><figcaption id=\"caption-attachment-111872\" class=\"wp-caption-text\">The NEDA chief further said it would be worrisome only if the peso falls at a sudden pace, similar to that during the second EDSA Revolution. (PNA PHOTO)<\/figcaption><\/figure>\n<p>MANILA, Aug. 14\u2014 Filipinos should not worry about the peso\u2019s depreciation as this boosts consumption spending and makes exports competitive, said the country\u2019s chief economist.<\/p>\n<p>\u201cThese are really driven by market forces so there is no really worry. What we need to worry about is wild swings,\u201d said Socioeconomic Planning Secretary Ernesto Pernia.<\/p>\n<p>Pernia, the National Economic and Development Authority (NEDA) Director-General, said the peso\u2019s weakness could benefit the economy.<\/p>\n<p>\u201cIt is going to make our exports more competitive, our OFWs (overseas Filipino workers) remittances will be a boost to consumption spending which is also an economic driver, economic growth stimulus. It\u2019s also (good) for BPOs (business process outsourcing,\u201d he added.<\/p>\n<p>The NEDA chief further said it would be worrisome only if the peso falls at a sudden pace, similar to that during the second EDSA Revolution.\u00a0The peso averaged at PHP50.99 to a dollar in 2001 from PHP44.19 in 2000, due to the volatility in regional currencies and concerns about the peace and order situation at that time.<\/p>\n<p>The local currency closed last week near its 11-year low at 50.98 due to latest carping remarks between the United States and North Korea.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA, Aug. 14\u2014 Filipinos should not worry about the peso\u2019s depreciation as this boosts consumption spending and makes exports competitive, &hellip;<\/p>\n","protected":false},"author":33,"featured_media":111872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,95],"tags":[18683,12570,21173,21172],"class_list":["post-111870","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news-ph","tag-national-economic-and-development-authority-neda","tag-overseas-filipino-workers","tag-socioeconomic-planning-secretary-ernesto-pernia","tag-weak-peso","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/111870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=111870"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/111870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/111872"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=111870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=111870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=111870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}