[MANILA] The Philippine economy expanded faster than expected in the fourth quarter of 2021, with consumer spending picking up as the Covid-19 infection rate slowed ahead of the Christmas holidays, data showed on Thursday. The South-east Asian country’s gross domestic product rose 7.7 per cent in the December quarter from a year earlier, faster than […]
Read MoreThe Philippine economy rebounded more strongly than expected in 2021 after a relaxation of Covid-19 rules fuelled consumer spending and got more people back to work, officials said Thursday as they forecast a return to pre-pandemic growth this year. Gross domestic product expanded 5.6%, the statistics agency said, after a 9.6% slump the previous year […]
Read MoreMANILA, Philippines — President Duterte’s economic team is now looking at the possibility of making the tariff reduction and higher volume of pork imports a permanent policy to further address inflation concerns in the country. According to the private sector representative in the policy-making body of the Bangko Sentral ng Pilipinas (BSP), the economic team […]
Read MoreMANILA, Philippines — The Philippine economy grew beyond the government’s expectations last year, with growth in the fourth quarter surprising on the upside despite the onslaught of Typhoon “Odette” and a prolonged pandemic. Gross domestic product, the sum of all products and services created in an economy, grew 5.6% year-on-year in 2021, a dramatic turnaround from […]
Read MoreMANILA, Philippines — Foreign investors hesitate to locate their new and expansion projects in the Philippines as they find the country’s cost of doing business too expensive and ownership rules too restrictive. In a report, investment promotion agencies (IPAs) said the pandemic, cost of doing business, as well as foreign ownership limits, prevent firms abroad […]
Read MoreMANILA, Philippines — Revisions in gross domestic product (GDP) data in the third quarter of 2021 brought down the economy’s growth rate to 6.9 percent, the Philippine Statistics Authority (PSA) reported yesterday. GDP adjustments are regularly done as a consideration to the late release or updates of some pertinent data. It is also consistent with […]
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