THE Philippine government’s debt would decline during the next few years if economic growth is kept above 6 percent and the tax base is expanded, debt watcher Fitch Ratings said. In a report, Fitch said current announcements, such as those made by Finance Secretary Benjamin Diokno, seem to indicate a desire to improve tax administration in […]
Read MoreMANILA, Philippines — The Philippines is one of the countries in Asia-Pacific highly vulnerable to volatile food and energy prices as the Russia-Ukraine war continues to disrupt the supply and raise the cost of agricultural products as well as fertilizers and other inputs, according to Moody’s Investors Service. In a report, the debt watcher said […]
Read MoreMANILA, Philippines — As the Philippine peso hovers within 17-year lows, money sent home by Filipinos abroad are getting a boost. Ideally, the gains should translate to stronger purchasing power for the families of these expats, but not for Melissa Tresvalles, a 31-year-old overseas Filipino worker in Saudi Arabia. “Despite the bigger value of my […]
Read MoreMANILA, Philippines — With the country’s second quarter economic performance expected to disappoint, the Bangko Sentral ng Pilipinas (BSP) is likely to be done with rate hikes following last week’s off-cycle rate increase, according to United Kingdom-based think tank Pantheon Macroeconomics. Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics, said the BSP’s recent 75-basis […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has been cautioned not to overdo rate hikes, as Moody’s Analytics and Fitch Solutions Country Risk & Industry Research expect monetary authorities to further raise key interest rates until the end of the year. Sonia Zhu, associate economist at Moody’s Analytics, said that hiking interest rates […]
Read MoreMANILA, Philippines — Foreign borrowings approved by the Bangko Sentral ng Pilipinas (BSP) surged by 48 percent to $8.34 billion in the first half from $5.64 billion in the same period last year as the government tapped the offshore debt market to raise funds for its financing requirements and its pandemic response measures. BSP-approved foreign […]
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