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Philippines: Q3 residential estate prices down 0.4%

Residential real estate prices in the country slipped by 0.4 percent year-on-year in July to September, while it contracted 14.1-percent quarter-on-quarter, data from Bangko Sentral ng Pilipinas (BSP) showed. BSP on Wednesday said the negative year-on-year growth of the Residential Real Estate Price Index (RREPI) in the third quarter is its first since beginning the […]

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Philippines: Low rates likely until 2022 – BSP

MANILA, Philippines — The Bangko Sentral ng Pilipinas may keep a low interest rate environment until end-2022 to help the country fully recover from the impact of the pandemic, BSP Governor Benjamin Diokno said. In an interview with Bloomberg Television, Diokno said the BSP still has some monetary space available despite cutting the benchmark rate […]

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Philippines: Tax amnesty deadline extended for fifth time

MANILA, Philippines — The Department of Finance (DOF) has given delinquent taxpayers more time to settle their deficiencies as part of the government’s efforts to ease the taxpayers’ burden amid the pandemic. The DOF has issued Revenue Regulations 32-2020 and 33-2020 extending until June 2021 the respective deadlines for people to avail themselves of the […]

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Philippines: Record-breaking 2020: the economy in charts

MANILA, Philippines — 2020 was a turbulent year, but apart from public health, the economy probably took the brunt of damage from the unprecedented coronavirus crisis.  From economic growth slowing down, trade grinding to a halt, the stock market falling and even our most reliable migrant workers coming home in droves, economic officials correctly characterized this […]

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