MANILA, Philippines — The government has borrowed $23.4 billion, or about P1.18 trillion, from overseas sources to fund its pandemic efforts, but plans to bring down its financing program starting next year as revenue collections recover with the economy’s reopening. Finance Secretary Carlos Dominguez said yesterday a total of $21 billion was borrowed from foreign […]
Read MoreMANILA, Philippines — The Philippines is set for a strong rebound this year as momentum picks up, but economic scarring will likely hamper growth in the coming years and fall below government expectations, the World Bank said. In an economic update yesterday, the multilateral lender raised its 2021 gross domestic product (GDP) growth forecast for […]
Read MoreTHE country’s headline inflation eased to a four-month low of 4.2 percent in November from 4.6 percent in October, the Philippine Statistics Authority (PSA) said. In a briefing on Tuesday, National Statistician Dennis Mapa said this is still higher than the 3.3 percent seen in November last year. It was, however, the lowest recorded since the 4.0 percent seen […]
Read MoreMANILA, Philippines — Economists see the Philippine central bank reversing to a tightening cycle and raising its key interest rates over the next two years as the Philippines gradually recovers from the pandemic-induced recession. Chua Hak Bin, regional co-head of Macro Research at Maybank Kim Eng, said the Bangko Sentral ng Pilipinas (BSP) may raise […]
Read MoreMANILA, Philippines — Consumer price growth continued to decelerate for the third straight month in November, giving Filipinos a reprieve from elevated inflation that’s making surviving the economic fallout from the pandemic more challenging. Inflation, as measured by the consumer price index, slowed down to 4.2% year-on-year last month from 4.6% in October, the Philippine Statistics […]
Read MoreMANILA, Philippines — There were fewer jobless Filipinos recorded in October, thanks to looser pandemic restrictions that have allowed people to find work. However, the quality of available jobs deteriorated in the face of hard economic times and high inflation. A survey of 43,181 households in the country showed there were 3.50 million people who […]
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