MANILA, Philippines — Moody’s Investors Service has maintained a stable outlook for Philippine banks as the tighter monetary conditions brought about by the aggressive rate hikes by the Bangko Sentral ng Pilipinas (BSP) is not likely to derail the recovery from the impact of the pandemic. In a report on the Philippine banking system, the […]
Read MoreMANILA, Philippines — Inflation is estimated to have edged higher to over nine percent in February and expected to remain elevated this month, according to an economist. Alvin Ang, chair of the Ateneo de Manila University’s Department of Economics, said in an interview with The Chiefs aired over One News, that based on their projections, […]
Read MoreMANILA, Philippines — The country’s budget shortfall slightly narrowed last year, with its share to the overall economy also easing, after the government secured better revenue streams as business activities returned to normalcy with COVID cases declining. Data from the Bureau of the Treasury showed that the deficit in 2022 shrank by 3.35 percent to […]
Read MoreMANILA, Philippines — Local factories ran into some headwinds in February as operating conditions continued to pose challenges, despite the boons offered by the Philippine economy’s reopening. A survey of around 400 manufacturers in the country found that the Philippines’ Purchasing Managers’ Index (PMI), a gauge of manufacturing output, grew at a softer pace of […]
Read MoreMANILA, Philippines — The government’s budget balance settled into deficit territory again but proved lower in 2022, as revenues scored the benefits of a reopened domestic economy. However, concerns loomed as a limited fiscal space continued to narrow spending on sorely needed socioeconomic programs. Data released by the Bureau of the Treasury on Wednesday showed that […]
Read MoreMANILA, Philippines — Credit growth softened in January, as the impact of the Bangko Sentral ng Pilipinas’ aggressive interest rate hikes to tame consumer demand fueling painfully-high inflation seeped into the economy. Excluding lending among each other, outstanding loans of universal and commercial banks rose 10.4% year-on-year in January. This was slower than the 13.4% […]
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