MANILA, Philippines (Updated, 10:57 a.m.) — Inflation quickened at a pace not seen in over three years in June, a development that would likely prompt the Bangko Sentral ng Pilipinas to be more aggressive in taming prices as Filipinos tighten their belts. At a news briefing on Tuesday, the Philippine Statistics Authority reported that inflation, as measured […]
Read MoreMANILA, Philippines — The government is looking to propose subsidies for the vulnerable and the poor under next year’s budget to help those most affected by rising fuel and commodity prices. Socioeconomic Planning Secretary Arsenio Balisacan told reporters yesterday the government would no longer be able to ask for additional funding for targeted subsidies this […]
Read MoreMANILA, Philippines — Most economists believe inflation likely quickened further to about six percent in June from 5.4 percent in May amid the steady rise in fuel prices, higher electricity rates and the weaker peso. China Bank chief economist Domini Velasquez said inflation may have accelerated to six percent last month, driven by persistently elevated […]
Read MoreMANILA, Philippines — Businesses are putting on hold their expansion plans amid the continued depreciation of the peso against the dollar as well as accelerating inflation, but are planning to hire more workers in the third quarter, according to the results of a survey conducted by the Bangko Sentral ng Pilipinas. BSP senior director Redentor […]
Read MoreMORE businesses want to hire more employees in the third quarter (Q3) of this year than they intend to expand their operations, a recent survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed. Business Expectation Survey (BES), the percentage of businesses planning to expand in the industry sector has dropped to 17.9 percent from […]
Read MoreDESPITE the effect of rising fuel costs on consumer demand, the new chief of the central bank is optimistic that the Philippine gross domestic product (GDP) growth would reach at least the lower end of the government’s objective this year. “It will be difficult to match 8.3 percent [economic growth] in the first quarter because […]
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