MANILA, Philippines — The government plans to increase the share of debt burden in the proposed record P5.768 trillion budget for next year. Based on the Budget of Expenditures and Sources of Financing (BESF), 12.1 percent of the budget or equivalent to P699.2 billion will be allocated to settle debts for 2024. This is slightly […]
Read MoreMANILA, Philippines — The proportion of unemployed Filipinos rose in June, while the quality of available jobs worsened, state statisticians reported Wednesday. There were 2.33 million Filipinos who were either jobless or out of business in June, higher than the 2.17 million unemployed persons recorded in May, data from the Philippine Statistics Authority showed. This […]
Read MoreMANILA, Philippines — The country’s manufacturing industry expanded at a slower pace in June because of production declines from the food and metal industries. The Philippine Statistics Authority (PSA), in a report, said that the volume of production index (VoPI) for the manufacturing industry grew by 3.4 percent in June. When compared, the VoPI grew […]
Read MoreMANILA, Philippines — The country’s dollar position found itself in familiar territory in June by landing into a deficit, but an analyst expects the shortfall to narrow by yearend. Data sent by the Bangko Sentral ng Pilipinas on Wednesday showed that the country’s balance of payments hit a deficit of $606 million in June. This […]
Read MoreA PHILIPPINE inter-agency panel chaired by President Ferdinand Marcos Jr on Wednesday (Jul 19) rejected a 267 billion pesos (S$6.5 billion) unsolicited offer from a local consortium to operate and upgrade the country’s ageing main international airport. The panel said it preferred to invite bids for the airport modernisation project, which based on the government’s […]
Read MoreMANILA, Philippines — Any delays in renewing the European Union’s Generalized Scheme of Preferences Plus (GSP+) could pose serious problems to Philippine exporters, so says a trade think tank. The current scheme will expire by the end of 2023 if the EU does not renew it. However, the European Commission expressed willingness to renew the […]
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