MANILA, Philippines — The Philippine construction industry is expected to enjoy double-digit growth this year as revived infrastructure projects are seen helping the country recover from the pandemic- induced recession, according to Fitch Solutions Country Risk & Industry Research. The research arm of the Fitch group said the Philippine construction sector would post a double-digit […]
Read MoreMANILA, Philippines — Philippine economic recovery from the coronavirus pandemic is expected to be slower than its peers in Southeast Asia, according to US-based investment bank Citigroup. Johanna Chua, managing director and head of Asia Pacific economy and market analysis at Citigroup, said it would take the Philippines until 2022 to recover from the pandemic. […]
Read MoreMANILA, Philippines — The Duterte administration’s infrastructure spending fell back to lockdown levels in November, but a catch-up likely materialized in the last month of the year, a rebound that would be difficult to sustain in 2021. Direct spending on infrastructure by the national government amounted to P44.3 billion that month, down 25.4% year-on-year, latest […]
Read MoreMANILA, Philippines — Prices of processed meat products are expected to remain stable after the government retained the low tariff rate on imported mechanically deboned meat (MDM), a vital raw material used in meat processing. President Duterte yesterday formally signed Executive Order 123, which retained the current most favored nation (MFN) tariff rates on MDM […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) said the worst is over for the Philippines and the economy is seeing signs of recovery with improvements in different economic indicators as preparations for the COVID-19 vaccine rollout are underway. “We are still facing risk, but I would also say that the worst is over. […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) reported a 14.3 percent decline in earnings to P34.5 billion from January to November last year compared to a year-ago level of P40.24 billion on the back of lower revenues and the net loss on foreign exchange rate fluctuations. Revenues of the regulator, which is made […]
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