MANILA, Philippines — The Philippines is on its way to full recovery, as the pace of economic growth is expected to further accelerate in the second quarter of the year, according to outgoing Bangko Sentral ng Pilipinas Governor and incoming Finance Secretary Benjamin Diokno. Diokno, in a speech during the launch of the World Bank’s […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) wants the discount privileges granted to senior citizens and persons with disabilities (PWDs) honored in e-commerce platforms. “Online shopping platforms need to reprogram their offering to incorporate a feature that allows discounts for persons with disabilities and senior citizens,” Trade Secretary Ramon Lopez said in […]
Read MoreMANILA, Philippines — Global headwinds weighed on foreign trade in April, state statisticians reported Thursday, and such disruptions are expected to persist in the coming months. What’s new External trade rose 16.2% year-on-year to $17.03 billion in April, data from the Philippine Statistics Authority showed. This was slower than the 18.7% annual growth rate in March. […]
Read MoreMANILA, Philippines — The country’s debt level remains manageable, but the government must pursue a fiscal consolidation plan to avoid a further dent on economic growth, the World Bank said. In a briefing yesterday, World Bank Philippines senior economist Kevin Chua said a fiscal consolidation program would promote macroeconomic stability and support long-term economic growth. […]
Read MoreMANILA, Philippines — Festering global supply chain issues hurt local manufacturing output in April, with fading base effects showing a clearer picture of the impact. What’s new Results of PSA’s monthly survey of selected industries revealed the volume of production index (VoPI), a measure of manufacturing output, rose at a slower rate of 3.4% year-on-year […]
Read MoreMANILA, Philippines — The Philippines will likely fail to achieve its economic target for this year due to a weak external environment and inflationary concerns, but its growth rate will still be among the fastest in East Asia and the Pacific. In its latest economic update, the World Bank retained its gross domestic product (GDP) […]
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