MANILA, Philippines — The Marcos administration is looking to lessen imports of rice and corn with a primary mandate to boost production of the two food staples until the end of the year. In a briefing yesterday, President Marcos – who is also the concurrent agriculture chief – said the Department of Agriculture (DA) was […]
Read MoreMANILA, Philippines — The country’s headline inflation rate rose to 6.1 percent in June, the highest in more than three years, driven by rising food prices and transport costs, the Philippine Statistics Authority (PSA) said. In a briefing yesterday, national statistician Dennis Mapa said the 6.1 percent June inflation matched the rate in November 2018, […]
Read MoreMANILA, Philippines — Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla is not discounting the possibility of another 100 basis points in cumulative rate hikes, bringing the benchmark interest rate to 3.50 percent by the end of the year. “The need to exit the very, very unconventional monetary policies that were necessitated by the pandemic […]
Read MoreDESPITE the ongoing Russia–Ukraine conflict and tighter global financial situation, the Asean+3 Macroeconomic Research Office (AMRO) has hiked its 2022 growth forecast for the Philippine economy. However, it has slashed its growth projection for the Association of Southeast Asian Nations Plus Three (Asean+3). AMRO now sees a 6.9-percent expansion for the Philippine economy — as measured by gross domestic […]
Read MoreMANILA, Philippines — The ASEAN+3 Macroeconomic Research Office (AMRO) now expects the Philippines to post the highest growth in ASEAN+3, citing the continued opening of the country’s economy and the government’s continued push for infrastructure development. In a briefing yesterday, AMRO chief economist Hoe Ee Khor said the Philippines is expected to post a 6.9 […]
Read MoreMANILA, Philippines — A regional surveillance organization downplayed the impact of the Bangko Sentral ng Pilipinas’ rate hikes on economic recovery, arguing that there are signs that the economy could sustain its growth path. At a press conference on Tuesday, experts at ASEAN+3 Macroeconomic Research Office (AMRO) hiked their growth forecast for the domestic economy to 6.9% […]
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