MANILA, Philippines — The Philippines is expected to be the second worst hit among emerging markets (EMs) as the Russia-Ukraine war continues to reverberate through commodity price shocks and heightened inflationary pressures. In its latest research brief, Oxford Economics said the Philippines ranked second out of 21 EMs in terms of commodity shock from the […]
Read MoreMANILA, Philippines — The Philippine economy has to expand by more than six percent every year until 2028 to ensure that the government can repay the debts piled up by the Duterte administration during the COVID pandemic. Finance Secretary Carlos Dominguez III yesterday said the incoming administration should not only come up with a fiscal […]
Read MoreECONOMIC growth should top 6.0 percent over the next five years for the Philippines to pay off pandemic-related debt, Finance Secretary Carlos Dominguez 3rd said on Thursday. “The biggest challenge for the next administration is really to grow out of the debt that we incurred during the pandemic,” he said in a Bloomberg interview. The borrowings, he added, were “natural because […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) will closely monitor and supervise cash agents as it ramps up efforts to achieve its twin goals of financial inclusion and payments digitalization. The central bank has partnered with the Alliance for Financial Inclusion (AFI) to launch the agent registry for cash agents. BSP Governor Benjamin […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) expects the Philippine economy returning to its pre-pandemic growth level in 2024 after closing the output gap arising from the impact of the pandemic by next year. IMF resident representative Ragnar Gudmundsson said in an email that the Philippines has shown signs of economic recovery from the […]
Read MoreMANILA, Philippines — The rise of the tourism sector’s contribution to the Philippine economy in 2021 helped the country rank as the world’s fourth fastest-growing economy last year. This was stressed by World Travel and Tourism Council President Julia Simpson at a press conference on the first day of the global summit being hosted by […]
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