The interagency Development Budget Coordination Committee (DBCC) announced on Tuesday that it had hiked its GDP growth assumption for 2021 from 4 to 5 percent to 5 to 5.5 percent. “As we continuously relax restrictions and increase mobility, economic performance is expected to accelerate further in the last quarter of the year. As we continuously relax restrictions […]
Read MoreTHE Asian Development Bank (ADB) on Tuesday raised its 2021 and 2022 Philippine growth forecasts, citing the country’s ramped-up vaccination program and declining Covid-19 cases. In an update to its 2021 Asian Development Outlook, the Manila-based multilateral said Philippine gross domestic product (GDP) growth would likely hit 5.1 percent this year, up from 4.5 percent previously. The projection is […]
Read MoreMANILA, Philippines — The country’s outbound shipments may not be able to immediately save the country’s trade performance, which was already up for a weak start in the fourth quarter. In its latest economic monitor, Pantheon Macroeconomics said trade data for October has painted a benign start to the last quarter of the year. In […]
Read MoreMANILA, Philippines — Local motor vehicle sales in 11 months this year have exceeded the total in 2020, with sales last month the highest for the year, the group of car and truck assemblers said. A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) released […]
Read MoreMANILA: The Philippines’ total outstanding external debt remained a prudent level as of the end of September with US$105.93bil (RM445.81bil), representing 27.3% of the domestic economy The Bangko Sentral ng Pilipinas (BSP) governor Benjamin Diokno (pic) said in a statement the low ratio of total outstanding external debt to gross domestic product (GDP) means that […]
Read MoreMANILA, Philippines — The Tariff Commission (TC) has started its probe into the merits of imposing a definitive anti-dumping duty on cement imports from Vietnam. In a notice, the TC said it commenced the formal investigation on Dec.9 after it received a request from the Department of Trade and Industry (DTI) and the complete case […]
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