‘Unity key to improved growth forecast’

By Maricel V. Cruz

SPEAKER Martin G. Romualdez on Thursday said the united effort of the executive and legislative branches of the government is a major contributing factor to the country’s strong economic performance as he elcomed the latest World

Non-monetary benefits eyed for soldiers

By Vince Lopez

AMID grumbling over a government plan to cut military pensions, Defense Secretary Gilberto Teodoro Jr. said Thursday that non-monetary benefits that soldiers and their families get would entice them to stay longer and wait for their mandatory retirement from the service.

Teodoro was addressing concerns that military personnel would opt for early retirement before the new pension plans for military and uniformed personnel (MUP) are put into place.

But in a press briefing, Teodoro said non-monetary benefits such as health care and skills upgrading initiatives in the Armed Forces of the Philippines (AFP) would serve as a prime consideration for enlisted personnel not to retire early.

"I mean, it's a matter of getting an amount now, without the continuing nonmonetary benefits that you will enjoy in your career path,” Teodoro said.

Bank forecast indicating faster than expected growth this year.

According to the World Bank, the Philippines' gross domestic product (GDP) is expected to grow 6 percent this year, upgrading its previous forecasts of 5.4 percent in December and 5.6 percent in April.

“This upgraded forecast reinforces the positive trajectory of the Philippine economy and demonstrates that we are on the right track towards recovery and progress. It is a testament to the resilience of our people, the dynamism of our businesses, and the stability of our economic fundamentals,” Romualdez said.

READY FOR THE BIG ONE? Students take part in a nationwide earthquake drill at an elementary school in Manila on June 8, 2023. AFP

The ‘Big One’: Over 60k fatalities, 120k missing