MANILA, Philippines — The country’s road to economic recovery is now getting less and less bright amid the sustained surge in COVID-19 cases, even as the government has reimposed strict lockdown measures, a global data analytics firm said. In its weekly economic preview, IHS Markit said it now expects lower gross domestic product (GDP) growth […]
Read MoreMANILA, Philippines — The Philippines is expected to double the volume of pork imports from the global market this year amid a shortfall in supply due to the African swine fever (ASF), as well as the adjustments to the country’s tariff rate system. In the latest report of the United States Department of Agriculture (USDA)-Foreign […]
Read MoreImproving economic sentiment drove new business registrations in February to 7,265, up 13% from the same period last year, with rice farming among the top three for the first time. Thosapone Dansuputra, director-general of the Business Development Department, attributed the increase to Covid-19 vaccinations, state assistance for small and medium-sized enterprises and a plan to […]
Read MoreVietnam is forecast to lead the fastest growing ASEAN economies in 2022, according to a recent report of the International Monetary Fund (IMF). In its World Economic Outlook released earlier this week, IMF predicted Vietnam’s 2022 economic growth at 7.2 percent, followed by the Philippines (6.5 percent), and Malaysia and Cambodia (both 6 percent). Cambodia […]
Read MoreMANILA, PHILIPPINES – Media OutReach – 12 April 2021 – The Philippines has enacted a landmark law that cuts corporate income tax by as much as 10 percent and rationalizes fiscal incentives, thereby serving as the biggest stimulus for businesses in the country’s history. On March 26, President Rodrigo R. Duterte signed Republic Act No. 11534 or […]
Read MoreMANILA, Philippines — The peso may weaken further over the next two years on the back of weak domestic growth, as well as the rising US Treasury yields in the first half of the year, according to Australia-based ANZ Research. In its latest Asia economic outlook, ANZ said the local currency may depreciate to 48.90 […]
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