MANILA, Philippines — The country’s external debt breached the $100 billion level after climbing by 4.3 percent to $101.2 billion as of end-June from $97 billion in end-March as the government borrowed more from foreign creditors to augment its COVID war chest, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the […]
Read MoreMANILA, Philippines — The government recorded higher excise tax collection from cigarettes in the first seven months of the year, with two Big Tobacco firms paying hefty levies that the state could use to keep the country’s healthcare system running amid the pandemic. In a statement on Monday, the Department of Finance said the Bureau […]
Read MoreMANILA, Philippines — Dollars sent home by expatriate Filipinos are expected to grow at a faster rate of six percent, from the original forecast of four percent this year, amid the continued reopening of economies hosting overseas Filipino workers (OFWs), according to the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald Abenoja, managing director of the BSP’s […]
Read MoreMANILA, Philippines — Economists expect the Bangko Sentral ng Pilipinas (BSP) to keep the benchmark interest rate steady at an all-time low of two percent despite the upward pressure on commodity prices. ING Bank Manila senior economist Nicholas Mapa said monetary authorities may look past the continued breach in the BSP’s two to four percent […]
Read MoreAs curbs, surging virus cases temper GDP growth MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said more fiscal support and a faster vaccination rollout are crucial as economic recovery remains tentative due to the surging COVID cases. At an economic briefing organized by ANZ Research, BSP Deputy Governor Francisco Dakila Jr. cited the […]
Read MoreMANILA, Philippines — The World Bank Group would cease publication of its “Ease of Doing Business” report — past results of which were protested by the Philippines twice — after a former official was found to have ordered staff to manipulate data to please China. In a statement on Friday, the Washington-based multilateral lender said it […]
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