MANILA, Philippines — The Bureau of Internal Revenue (BIR) has expanded the coverage of its digital platforms to 4.63 million business taxpayers last year, up by more than five percent from 4.41 million in 2021. The BIR yesterday said its digitalization transformation (DX) program now captures all of the new players in its taxpayer registry. […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) has raised its 2022 gross domestic product (GDP) growth forecast for the Philippines to 6.5 percent from the original target of 6.3 percent, making the country the fastest growing economy among members of the Association of Southeast Asian Nations-5 (ASEAN-5). Based on the April 2022 World Economic […]
Read MoreMANILA, Philippines — Tokyo-based debt watcher Rating and Investment Information Inc. (R&I) has affirmed the BBB+ credit rating and stable outlook of the Philippines on the back of the country’s solid recovery, healthy government finances, rising investments, and a stable banking sector. The Japanese credit rating agency said the Philippines has been demonstrating solid economic […]
Read MoreMANILA, Philippines — The Philippines finally booked a balance of payments (BOP) surplus in March, ending two straight months of deficit, as the government tapped the offshore debt market to fund COVID response measures as well as key infrastructure projects, according to the Bangko Sentral ng Pilipinas (BSP). The country’s BOP position yielded a $754 […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) emphasized anew the importance of taking part in the Regional Comprehensive Economic Partnership (RCEP) agreement, saying the country’s Southeast Asian neighbors are already enjoying the benefits of the mega-trade deal. “We cannot afford to delay or not participate in this FTA (free trade agreement) deal […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers rose by only one percent to hit their lowest level in three months, according to the Bangko Sentral ng Pilipinas (BSP). The central bank said personal remittances increased by 1.2 percent to hit a three-month low of $2.79 billion in February from $ 2.76 billion in the […]
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