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Philippines: Q3 GDP growth revised upward to 7%

MANILA, Philippines — Philippine economic growth in the third quarter of 2017 was revised upwards from 6.9 percent to seven percent, the Philippine Statistics Authority (PSA) said. Contributing to the upward revision were gains in manufacturing, trade and repair of motor vehicles, motorcycles, personal and household goods, and mining and quarrying. PSA said it revised […]

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Moody’s sees 6.7 percent GDP growth for Philippines in Q4 2017

MANILA, Philippines — The Philippine economy likely grew 6.7 percent during the last three months of 2017 on account of strong domestic demand, Moody’s Analytics said. “The Philippines’ economy has been a standout in recent years, underpinned by strong domestic demand and favorable demographics,” Moody’s said in its January 18 market outlook. “Domestic demand likely […]

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Philippines: Deficit-to-GDP ratio likely below 3%

MANILA, Philippines — The share of the national government’s budget deficit to the country’s gross domestic product (GDP) may have reached 2.6 percent to 2.8 percent in 2017, according to the Department of Finance (DOF). In an interview, Finance Undersecretary and chief economist Gil Beltran said the government’s deficit-to-GDP ratio was estimated to have settled […]

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Philippines: PPMI tapped as partner in retail payment system

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) recently acknowledged the Philippine Payments Management Inc. (PPMI) as a partner in implementing the National Retail Payment System (NRPS), paving the way for the establishment of a more accessible and competitive financial system. In a circular, BSP Governor Nestor Espenilla Jr. said the Monetary Board has […]

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