Thursday, July 10, 2014

Truck ban, pests threaten Philippine exports in 2nd half of 2014

MANILA, July 10 (Xinhua) -- The truck ban imposed by the Manila city government would make it difficult for Philippine exports to grow by at least 10 percent in the second half of the year, experts said Thursday.

The National Economic Development Authority (NEDA) also warned that a prolonged dry spell coupled with the spread of coconut scale insects could slow down shipments of agro-based products in the July to December period.

Philippine export revenues in the second half of 2013 rose by 12 percent year on year.

"I am not optimistic that we can maintain double-digit growth in the second half primarily because of the city of Manila's truck ban which is wreaking havoc on both importers and exporters," said University of Asia and the Pacific's (UA&P) economist Victor Abola.

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