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+ Follow ECONOMY MINISTER ZAFER CAGLAYAN Tag
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[Title] => Turkish minister offers resignation over scandal
[Summary] => Turkey's interior affairs minister has offered his resignation to Prime Minister Recep Tayyip Erdogan over a massive corruption and bribery scandal that has resulted in the arrest of his son and 23 other people.
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ECONOMY MINISTER ZAFER CAGLAYAN
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By Suzan Fraser | December 23, 2013 - 4:22am
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Credit growth accelerated for a fourth straight month in May, reaching its fastest pace in more than a year as businesses stepped up borrowing and household credit remained resilient, signaling that earlier monetary easing is beginning to filter through the broader economy.
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The Philippines is now classified as an upper-middle income country, following an upgrade by the World Bank in its latest country income classification update.
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The Philippine economy can still absorb another interest rate increase if needed, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said, as inflation remains elevated while growth is expected to recover in the second half.
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The Philippines will need to post at least 3.7 percent growth in the next three quarters to achieve the revised growth target for the year, according to the Department of Economy, Planning and Development.
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Every July, we mark National MSME Month in the Philippines – and rightly so. MSMEs are the engine of our economy.
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