MANILA, Philippines — Foreign investors are back in the Philippine debt market in the second quarter, fueled by optimism over further reopening of the economy and low coronavirus caseloads at the time. Foreign investors’ exposure to government-issued bonds grew 0.2 percentage points quarter-on-quarter to 2.5% by end-June, the Asian Development Bank said in its quarterly “Asia […]
Read MoreMANILA, Philippines — Money sent home by Filipinos abroad continued to grow in July, albeit at a slower pace than the previous month, showing their time-tested resilience as the global economy slowly reopens from coronavirus lockdowns. What’s new Cash remittances sent through banks inched up 2.5% year-on-year to $2.85 billion in July, the Bangko Sentral […]
Read MoreMANILA, Philippines — The construction sector suffered a decline of about 44 percent to P276 billion last year as plans to put up new buildings and expand existing structures were held off by the lockdown. Based on records from the Philippine Statistics Authority (PSA), construction spending sank from P491.8 billion in 2019 due to double-digit […]
Read MoreMANILA, Philippines — The government improved its tax take from fuel marking by nearly 22 percent to P154 billion in the second year of the program due to increased collection from petroleum imports. Finance Secretary Carlos Dominguez yesterday said revenue from fuel marking jumped by 21.65 percent to P153.93 billion in the second year from […]
Read MoreMANILA, Philippines — Pre-election tensions may derail policymaking and reforms, further hampering the country’s recovery from the pandemic-induced recession, according to Fitch Solutions Country Risk & Industry Research. In a commentary titled “Philippines’ Political Jostling Ahead of 2022 Elections A Threat To Policymaking,” Fitch Solutions said it has lowered the Philippines’ short-term political risk index […]
Read MoreMANILA, Philippines — Infrastructure spending of the Duterte administration inched up on an annual basis in July, but dipped considerably from the previous month even as pandemic curbs were more relaxed back then. The national government spent P87.7 billion in capital outlays in July, up 22.2% year-on-year, data from the Department of Budget and Management […]
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