MANILA, Philippines — The impact of the Omicron coronavirus variant on the Philippine economy is expected to be less severe, but growth will still be lower than expectations this year. In an email to The STAR, Oxford Economics assistant economist Makoto Tsuchiya said the forecast growth in gross domestic product (GDP) for the Philippines this […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may shift to a tightening mode in the latter part of the year as the country emerges as the fastest growing economy in Southeast Asia, Malaysian financial giant Maybank said. Suhaimi Ilias, chief economist at Maybank, said the Monetary Board may start hiking interest rates by […]
Read MoreTHE Philippine economy likely increased by 5.8 percent in the fourth quarter of 2021, bringing full-year growth to 5.1 percent, Security Bank Corp.‘s chief economist said. Robert Dan Roces‘ full-year 2021 growth forecast is a reversal of the 9.6 percent contraction in 2020, but still falls short of the government’s 5- to 5.5-percent target. Domestic activity, […]
Read MoreMANILA, Philippines — Fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (PAMALAKAYA) is opposing the Department of Agriculture (DA)’s approval of the importation of 60,000 metric tons (MT) of small pelagic fish, saying such a move will hurt local fishers. In a statement, the group said more fish imports would pull down the farmgate […]
Read MoreMANILA, Philippines — Philippines economic growth likely slowed in the fourth quarter of last year as the damage caused by Typhoon Odette sapped the gains from relaxed COVID restrictions, according to Dutch financial giant ING Bank. Nicholas Mapa, senior economist at ING Bank Manila, said Philippine economic growth likely eased to 6.7 percent in the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has extended relief measures for banks to help sustain credit growth, and at the same time provide continued access to financial services to vulnerable sectors of the economy amid the resurgence in COVID- infections due to the more contagious Omicron variant. BSP Deputy Governor Chuchi Fonacier […]
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