MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is expected to keep the benchmark interest rate at an all-time low of two percent this week as inflation is likely to ease back to the target toward the end of the year, according to bank economists. Alvin Joseph Arogo, vice president and head of equity […]
Read MoreMANILA, Philippines — The country’s gross international reserves (GIR) is expected to hit a record high of $114 billion this year and $117 billion next year, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. The GIR, the sum of all foreign exchange flowing into the country that serves as buffer to ensure it […]
Read MoreThe Philippines may incur a lower balance of payments (BoP) surplus this year, according to the Bangko Sentral ng Pilipinas (BSP). Data shared by central bank Governor Benjamin Diokno showed on Thursday that the BSP now anticipates a $6.2-billion BoP surplus this year, equivalent to 1.6 percent of the country’s gross domestic product (GDP). The […]
Read MoreMANILA, Philippines — Purchasing properties in the Philippines used to be a complicated process especially for prospective buyers and investors residing in other countries. For instance, overseas Filipino workers (OFWs) seeking to buy a house for their families were often daunted by the tedious paperwork involved. Similar concerns deterred potential property investors based abroad. All […]
Read MoreMANILA, Philippines — The national government continued to incur a budget shortfall in January as spending outpaced revenue collections amid the COVID-19 crisis. The budget deficit reached P14.1 billion during the month, reversing the P23-billion surplus in the same month last year, according to the latest cash operations report of the Bureau of the Treasury […]
Read MoreMANILA, Philippines — The Philippine economy is expected to grow by 7.4 percent this year as the start of COVID-19 vaccination this month is boosting business optimism despite another wave of infections in the country. In its latest analysis, market intelligence firm IHS Markit predicted that gross domestic product (GDP) for 2021 would return to […]
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