Philippine Asian News Today Vol 18 no 24 | Page 16

A16 PHILIPPINE ASIAN NEWS TODAY December 16 - 31 , 2016
The Department of Public Works and Highways ( DPWH ) announced the opening of the NAIA Expressway Christmas Lane on December 21 , in time for the
UBS said the Philippine peso could fall to the P51 to one US dollar level next year due to slower economic growth , a deteriorating external position , and higher inflation rate .
“ We expect growth to slow in the Philippines — while the external balance has deteriorated , removing a

NAIA Expressway Christmas Lane to Open on Wednesday holiday rush .

The NAIA Expressway Christmas Lane will connect Entertainment City and Diosdado Macapagal Boulevard to NAIA Terminal 3 and Skyway . This is expected to complement the first phase of the project , which connected Macapagal and Pagcor Entertainment City in Pasay City to NAIA Terminals 1 and 2 in Parañaque City .
“ This project would effectively improve traffic flow in the area and will cut travel time by at least 40 % that is why we wanted to open this lane in time for the Christmas Season ,” DPWH Secretary Mark Villar said .
“ We are committed to finishing the second section of the project , which would provide easier access to the
South Luzon Expressway . We will maintain 24 / 7 operations until the project is completed ,” he added .
“ Maganda ang patutunguhan kung maganda ang daloy ng trapiko ,” Department of Transportation ( DoTr ) Secretary Art Tugade noted .
The P20.45-billion NAIA Expressway Project is a four-lane , 12.65-kilometer elevated expressway ( including ramps ) and 2.22-kilometer at-grade road traversing Sales Avenue , Andrews Avenue , Parañaque River , MIAA Road and Diosdado Macapagal Boulevard .
When all phases are completed , the Naia Expressway Project is expected to

2017- Exchange Rate Seen at P51 :$ 1

buffer to global capital flows as the Fed is due to raise rates ,” UBS said in a report released Tuesday .
It forecasts Philippine gross domestic product ( GDP ) growth to moderate to 5.6 percent in 2017 .
Meanwhile , it anticipates a small current account surplus of 0.3 percent of GDP in 2017 “ as weaker domestic demand curbs import growth .”
The policy-setting US Federal Open Market Committee earlier this month voted unanimously to increase the key federal funds rate to a range of 0.5 to 0.75 percent . It also projects three increases in 2017 , putting the rate at 1.4 percent at the end of the year .
It would then rise to 2.1 percent at the close of 2018 .
UBS said rising inflation and higher oil prices will also hurt the Philippines , as it is a net oil importer .
It said oil prices may rebound to average $ 60 a barrel in 2017 and $ 70 a provide easy access to and from NAIA Terminals 1 , 2 , 3 and 4 and will interface with the South Luzon Expressway through Sales Interchange , Manila Cavite Toll Expressway and Macapagal Boulevard .
A total of 16 off and on ramps are being constructed along strategic locations at Villamor Airbase , Resorts World , Naia Terminal 3 , MIAA Road , Imelda Avenue , Cavitex , Seaside Drive and Diosdado Macapagal Boulevard .
“ By first quarter of 2017 , we hope to provide the public full access of NAIA Expressway , including Runway Manila ,” Villar said .( Interaksyon )
barrel in 2018 , that “ should push up headline inflation in the Philippines .”
“ These dynamics are likely to induce currency weakness ,” it said .
The Philippine peso remained at an eight-year low against the greenback on Tuesday , closing at P49.81 :$ 1 . ( M . Caraballo , MT )
WWW . PHILIPPINEASIANNEWSTODAY . COM