MANILA, Philippines — The prevailing weakness of the peso versus the dollar should not be a cause for concern as the economy continues to benefit from it, Socioeconomic Planning Secretary Ernesto Pernia said. While a weaker exchange rate has been making imports more expensive, it is a potential boon to exports if outbound shipments of […]
Read MoreMANILA, Philippines — The Chamber of Mines of the Philippines (COMP) has warned that the delay in the resolution of important mining regulations is attracting high risk investors. “Given uncertainties in the mining sector, we may attract high risk investors who are willing to take shortcuts. And this is not good for us,” COMP executive […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) said it is eyeing a two-tier tax rate for delinquent taxpayers under the proposed tax amnesty program. In a speech before the Rotary Club of Manila, Finance Secretary Carlos Dominguez said the government is pushing for a general amnesty program on all unpaid internal revenue taxes, excluding […]
Read MoreMANILA, Philippines — The Philippines is being urged to take part in the Trans-Pacific Partnership and to reach out to the Pacific Alliance in order to take advantage of opportunities offered by trade blocs. In a memorandum to Trade Secretary Ramon Lopez, the Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) Philippines said the […]
Read MoreMANILA, Philippines — Prices of goods and services further spiked by 5.2 percent in June, the highest in more than five years and significantly surpassing market expectations, taking even economic managers by surprise. Earlier this week, the Department of Finance said it expected headline inflation – the rate of change in the consumer price index […]
Read MoreMANILA, Philippines — The overall increase in prices of key consumer items spiked to a fresh five-year high in June, beating the central bank’s forecast for the month and market estimates. Inflation accelerated to 5.2 percent in June from May’s 4.6 percent. Year-to-date, inflation averaged 4.3 percent, above the Bangko Sentral ng Pilipinas’ 2-4 percent […]
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