MANILA, Philippines — The proportion of the national government’s debt to economic output rose to 44 percent in the first quarter of the year due to the increase in domestic borrowings, the Department of Finance (DOF) said yesterday. In an economic bulletin, Finance Undersecretary and chief economist Gil Beltran said the debt-to-GDP ratio expanded to […]
Read MoreMANILA, Philippines — Strong foreign exchange inflows continued to strengthen the country’s balance of payments (BOP) position, recording a surplus for six straight months with $467 million in April, according to the Bangko Sentral ng Pilipinas. The latest figure was a complete reversal of the $270 million deficit recorded in April last year. The BOP […]
Read MoreMANILA, Philippines — Singapore is ready to accept agricultural exports coming from the Philippines after successful sanitary inspections of several poultry and hog farms. Agriculture Secretary Emmanuel Piñol said Singapore is now open to receiving the initial shipment of table eggs, chicken, pork and vegetables from the Philippines after the recent on-site inspection of technical […]
Read MoreMANILA, Philippines — The likely entry of more administration allies in the Senate ensures policy continuity during the remainder of President Duterte’s six-year term and is seen to ease the passage of economic reforms, financial experts said. “The strong performance by Duterte’s supporters in the midterm elections should lead to further progress on pushing through […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has brought down the level of deposits banks are required to keep with the central bank by 200 basis points (two percentage points) over a three-month period, releasing about P190 billion in additional funds to boost the slowing economy. BSP Governor Benjamin Diokno said the Monetary […]
Read MoreMANILA, Philippines — Economists expect the Bangko Sentral ng Pilipinas (BSP) to follow suit with a reduction in banks’ reserve requirement ratio (RRR) this week to free up more funds to boost the country’s slowing economy. ING Bank Manila senior economist Nicholas Mapa said the BSP’s Monetary Board is likely to resume the reduction of […]
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