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Philippines: Government hikes budget for debt payment

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 […]

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More Filipinos went jobless, sought more working hours in June

MANILA, 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 […]

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Philippines: Factory output slows in June

MANILA, 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 […]

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Philippines rejects private sector’s 267 billion pesos offer to upgrade ageing airport

A 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 […]

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