MANILA, Philippines — The net inflow of foreign direct investments (FDIs) fell for the first time this year, contracting by 25.4 percent to a year-low of $429 million in May from $575 million in the same month last year because of concerns about rising COVID-19 cases worldwide due to new and more contagious variants. Data from […]
Read MorePhl exits recession MANILA, Philippines — The Philippines found its way out of recession on a record growth in three decades, but economists said recovery remains nowhere near in sight with the return to lockdown in economic areas, particularly Metro Manila. The Philippine economy, as measured by the gross domestic product (GDP), jumped 11.8 percent […]
Read MoreMANILA, Philippines — The Philippine economy contracted at a softer pace of 3.9 percent in the first quarter, the Philippine Statistics Authority (PSA) reported yesterday. The PSA said the country’s gross domestic product (GDP), a measure of economic output, shrank by 3.9 percent in the January to March period, smaller than the 4.2 percent reported […]
Read MoreMANILA, Philippines — The Bureau of the Treasury has deferred the issuance of retail dollar bonds (RDBs) amid the revert to stricter lockdown. National Treasurer Rosalia de Leon yesterday said the Treasury would no longer pursue its plan to sell RDBs in August to Filipinos living abroad as it adjusts its operations to the reimposition […]
Read MoreMANILA, Philippines (Update 2, 3:06 p.m.) — The Philippines is finally out of recession in the second quarter, posting its best annual growth rate in 32 years, but the rebound was shallow and new lockdowns triggered by the fast-spreading Delta variant are threatening to reverse gains. Gross domestic product — or the sum of all goods and services created […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is reminding government and private entities to submit their planned foreign borrowings for next year not later than Sept. 30. The central bank conducts an annual survey to get an indication of the magnitude and timing of the economy’s financing requirements for the following year, as […]
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