MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) continues to push for multilateral cross-border payments connectivity in the region as countries recover from the impact of the pandemic. BSP Governor Felipe Medalla highlighted the importance of increasing public investment on IT infrastructure and involving private players in making the goal of multilateral cross-border payments connectivity […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) expects the Philippine economy to grow faster than initially anticipated this year, following the stronger-than-expected performance in the first quarter with the easing of pandemic-induced restrictions. In its Asian Development Outlook 2022 Supplement released yesterday, the multilateral institution said it raised the growth forecast for the Philippines […]
Read MoreMANILA, Philippines — The ratio of government debt to the economic output, as measured by the gross domestic product (GDP), increased the most in the Philippines and Thailand since the end of 2019, according to Moody’s Analytics. Before the COVID-19 pandemic, the Philippines managed to trim the public debt ratio to a record-low 39.6 percent […]
Read MoreMANILA, Philippines — The Asian Development Bank upwardly revised its growth forecast for the Philippines, joining a small number of Asian economies that received a better economic outlook as rising interest rates and consumer prices threaten the region’s recovery from a more persistent pandemic. In a supplement to its flagship “Asian Development Outlook” report released Thursday, […]
Read MoreMANILA, Philippines — The Philippines recorded a balance of payments (BOP) deficit of $1.57 billion in June, five times the $312 million shortfall recorded in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP). The deficit last month was two percent lower than the $1.61 billion shortfall recorded in May. “The […]
Read MoreTHE Asean+3 Macroeconomic Research Office (AMRO) sees Philippine gross domestic product (GDP) reaching 6.9 percent for 2022 and 6.5 percent for 2023. Speaking at the 2021 AMRO’s Annual Consultation Report on the Philippines webinar, AMRO chief economist Hoe Ee Khor said that economic recovery in the Philippines remained on track despite recurrent waves of Covid-19 infections. Asean is the Association of Southeast […]
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