Program to quicken pace of spending a ‘dud,’ economist says

Wednesday, October 26, 2011
AN economist on Wednesday said the government’s program to increase and quicken the pace of its spending remained weak even after the Budget Department released P1.395 trillion as of the end of September.
“The Aquino administration’s spending catch-up program is a dud,” University of the Philippines economics professor Benjamin Diokno said in an email to Sun.Star.
Diokno, who headed the Budget Department during the Estrada administration, said actual expenditures net of debt service continue to lag program spending by as much as P195 billion –P847 billion versus P1.04 trillion– as of the end of the third quarter.
Improvements in the disbursement performance, however, have been seen in the third quarter, when the national government spent a total of P371.2 billion.
This is P5.5 billion or 1.5 percent higher than the P365.7-billion recorded in the same quarter of last year: the first time a quarterly expansion was recorded, Abad said.
While still missing the P436.6-billion target by P65.4 billion or 15 percent, the third quarter positive growth reverses the double digit contractions during the first two quarters.
Underspending was also lower in the third quarter, versus the average of 16.7 percent during the second semester.
What is missing in the government’s report, Diokno said, is the breakdown as to how much public infrastructure underspending has taken place.
“But I place it at around 50 percent. As of the end of the third quarter, some 50 percent of hard projects have yet to be bid out or yet to start,” he said.
In a separate statement, Finance Secretary Cesar Purisima expressed confidence of a further uptick in spending towards the end of the year “with the goal of boosting economic growth and alleviating the lives of the poor while keeping in check our fiscal situation.”
The inter-agency Development Budget and Coordination Committee (DBCC) slashed its growth targets to 4.4 percent to 5.4 percent, from the previous 5 percent to 6 percent forecast due to effects of weakening US and European economies.
The economy grew only four percent in the first half of 2011, compared to eight percent in the same period in 2010, an election year.
To stimulate the economy, President Benigno Aquino III unveiled a P72-billion expenditure package that aims to speed up completion of infrastructure and poverty alleviation projects.
But Diokno had said that the economic stimulus program will have marginal effect on public spending this year given the lack of time to carry out the projects. (Virgil Lopez/Sunnex)

Source: http://www.sunstar.com.ph/manila/local-news/2011/10/26/program-quicken-pace-spending-dud-economist-says-187167

The wines of Yats Wine Cellars are designed for the matured wine lovers looking for wines that are interesting, not necessarily impressive, and at a fair price that is usually below those of a comparable big names, and from a matured vintage from 20 years or older. There are over 2000 selections of wine at Yats that fit that description.

If Philippines is part of an upcoming travel and holiday plan, wine lovers might want to visit Clark Freeport Zone just 70 minutes from Manila. This bustling new city that is slated to replace Manila as the new capital of the Philippines has the largest wine shop called Clark Wine Center. Vintages span over a century and the selection of old- and new-world wines covers all major wine regions are all available at this top-rated wine shop near Manila. Pampanga Philippines is a fast growing province. Growth in major cities such as San Fernando, Angeles City and Clark Freeport Zone has given rise to a strong demand for luxury goods, upscale dining and quality living. Absence of a good wine shop for fine vintage wine has caused considerable inconvenience to the affluent community which is forced to drive down to Manila to purchase their wines.

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Leading Philippines wine supplier known for its line of fine vintage wines, Yats Wine Cellars was established in 2000 to address the requirement of a growing population of wine enthusiasts in the Philippines. Yats Wine Cellars caters to the discerning client who requires these qualities in their wines: (1) excellent value, (2) large selection of labels and vintages to choose from and (3) wines properly aged for full enjoyment.

http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
(045) 841 4006 / 0922-870-5173 / 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
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While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

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Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

http://www.HotelClarkPhilippines.com

http://www.ClarkPhilippines.com

http://www.YatsWineCellars.com

Yats Restaurant is an excellent Restaurant to dine, a restaurant with good food, a good place to have birthday party and special events. A Kid-friendly restaurants in Manila

Famous Restaurant in Pampanga, a place to dine with friends in Clark, cozy restaurant with a nice ambience, a nice function place for special occasions. Yats Restaurant is one of the good restaurants in Pampanga, a restaurant with good food, a place that is nice for celebration, ideal for business dinner meeting, a good place to enjoy family reunion, and an attractive restaurant that serves good wines for dinner.

Are you looking for an attractive restaurant or a nice place to eat with friends in Clark, Angeles City Pampanga? Yats Restaurant and Wine Bar is a restaurant with good food and good wines for dinner located at Clark Angeles City Pampanga. Perfect for exclusive dinner venues for groups, recommended for private dinner in Philippines. A Restaurant in Clark for business dinner meeting. Private dinner place or dinner restaurant in Clark Subic Near Manila Angeles City Pampanga. Yats Restaurant is one of the Good Restaurant in Pampanga Angeles City Clark near Manila.

www.YatsRestaurant.com
Looking for interesting hotels near Manila Subic Clark Angeles City Pampanga?
Trouble free hotels and well recognized hotels in Subic Clark Angeles City Pampanga
Clearwater Resort and Country Club offers a good place to stay in Subic Clark Angeles City Pampanga. In offers nice place to have rest in Subic Pampanga outside Manila.
One of the Philippines top hotels in north Luzon.

Where to go in Clark? Hotel Clark Philippines is a De Luxe Hotel in Clark and Subic, a risk free place to stay, cozy and nice ambience, a nice function place for special occasion. It is one of North Luzon Philippines’ top hotels that is trouble free, risk free, and a nice place to have rest in Subic. A well-recognized and interesting hotel.

www.HotelClarkPhilippines.com