MANILA, Philippines — The Department of Finance (DOF) expects the Philippines to score higher in the economic freedom index of the Heritage Foundation next year, following the enactment of various laws that set improvements on Filipinos’ property rights and trade freedom. In his latest economic bulletin, Finance Undersecretary and chief economist Gil Beltran said the country may perform better in the […]
Read MoreMANILA, Philippines — The country’s trade balance deteriorated to a record-high deficit of $41.44 billion last year as imports rose sharply while exports waned down, the Philippine Statistics Authority (PSA) reported yesterday. Although the trade gap narrowed to a three-month low in December as imports declined for the first time in a year, the PSA […]
Read MoreMANILA, Philippines — The Philippines’ trade gap narrowed to a three-month low in December, after exports stayed weak while import growth slowed sharply during the month, the country’s statistics agency reported Tuesday. Trade deficit in December stood at $3.75 billion, slimmer than $3.97 billion gap posted a year ago and $3.90 billion shortfall registered in November. […]
Read MoreMANILA, Philippines — The amount of foreign direct investments (FDIs) flowing into the Philippines declined by 3.2 percent in the first 11 months of 2018 as investors remained wary of the trade war between the US and China, as well as rising inflation in the domestic front. The Bangko Sentral ng Pilipinas (BSP) reported yesterday […]
Read MoreMANILA, Philippines — Project approvals by the Board of Investments (BOI) took off at the start of the year, surging 91 percent in January from the same month a year ago. In a statement yesterday, the BOI said it approved P97.9 billion worth of projects in the first month of the year, up from P51.3 billion in […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) decided yesterday to keep interest rates unchanged to allow the economy to absorb the effects of the previous rate hikes. In a statement, BSP Governor Nestor Espenilla said the Monetary Board believes the prevailing monetary policy remains appropriate after the tightening episode that saw interest rates rise by […]
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