An official of the Bangko Sentral ng Pilipinas allayed fears of an asset bubble in the domestic economy.

BSP Deputy Governor Diwa Guinigundo said the proportion of real estate credit to gross domestic product is rising but it is not at alarming level yet.

In 2013, real estate credit to GDP ratio rose by 6.1 percent from 5.5 percent in the previous year.

Moody's eyes 6.4% growth

Moody's Investors Service continues to see robust growth for the Philippine economy for this year and 2015 with the growth level still at 6.0 percent level.

It projects growth for 2014 to reach 6.5 percent although next year's target is a tad lower at 6.4 percent.

Its projection for this year is the lower end of the government's 6.5-7.5 percent growth target while its forecast for 2015 is lower than the government's 7.0 to 8.0 percent target.

Unopposed Lizares
reelected as director

Paul Lizares was re-elected as member of the Board of Directors of Central Negros Electric Cooperative representing District 8 (Talisay City) during its district election Saturday.

Lizares, who was unopposed, garnered a total of 17 votes, Cheryl Tortal, vice chairman of the district election coordinating committee said STAR yesterday.

Lizares, and the winners for the districts 4 (Bacolod east) and 5 (Bacolod west) will take their oaths as new members of the board during the annual general members assembly on June 28.