ECONOMIC managers on Monday decided to maintain existing growth targets but adjusted other assumptions for this year up to 2028 following a review of the government’s priorities and developments here and abroad. The gross domestic growth (GDP) goals for 2023 and 2024-2028 were kept at 6.0-7.0 percent and 6.5-8.0 percent, respectively, but that for this […]
Read MoreDue to still elevated food, energy prices MANILA, Philippines — Inflation is expected to remain high this year and could even hit as much as seven percent as prices of food and energy are still elevated. During the Development Budget Coordination Committee (DBCC) briefing yesterday, the economic team jacked up its inflation assumption for this […]
Read MorePHILIPPINE economic growth is expected to slow below 6.0 percent this year and the next following last year’s above-target 7.6 percent, a senior S&P economist said on Monday. “Because of base year effects, we expect that the growth rate of the Philippines this year will moderate somewhat because last year was so strong,” S&P Global […]
Read MoreMANILA, Philippines — The National Economic and Development Authority (NEDA) expects inflation to ease to four percent by the end of the year. During a Palace briefing yesterday, NEDA Secretary Arsenio Balisacan said inflation is now on a downward trajectory. “We are actively monitoring the situation and implementation of the necessary measures to ensure that […]
Read MoreMANILA, Philippines — The Bureau of Internal Revenue (BIR) plans to impose a one percent withholding tax on online platform providers that individuals use to sell goods and services amid the continued surge of digital transactions. In a draft briefer and revenue regulation posted on its website yesterday, the BIR is proposing to impose a […]
Read MoreMANILA, Philippines — The first meeting of the Marcos administration’s advisory body on inflation floated familiar proposals to combat brutally-high inflation, but analyst thinks the state could do more to curb price growth. The array of measures, targeted towards the short- and medium-term, included resorting to importation to curb supply gaps, bolstering hog repopulation programs, […]
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