MANILA, Philippines — The national government’s debt payments surged almost five-fold to P152.4 billion in August following the settlement of matured domestic securities during the period, according to the Bureau of the Treasury. Based on the latest data from the BTr, total debt payments in August soared by 383 percent to P152.4 billion from P31.58 […]
Read MoreMANILA, Philippines — The National Economic and Development Authority (NEDA) urged the public yesterday to give the Rice Tariffication Law a chance to take effect in the structural transformation of the economy and contribute to the growth of the agriculture sector. In a webinar yesterday on the effect of the law, Acting Socioeconomic Planning Secretary […]
Read MoreMANILA, Philippines — Banks continue to grapple with higher bad loans amid the economic fallout caused by the COVID-19 pandemic, the Bangko Sentral ng Pilipinas (BSP) said. The central bank said the gross non-performing loan (NPL) ratio of the banking sector rose for the eighth straight month, hitting its highest level in almost seven years […]
Read MoreMANILA, Philippines — Virtual currency transactions skyrocketed in the first semester amid the shift in consumer behavior due to the COVID-19 pandemic, the Bangko Sentral ng Pilipinas said. BSP Governor Benjamin Diokno said in a virtual press briefing the value of virtual currency transactions tripled to P59 billion from January to June as volume soared […]
Read MoreMANILA, Philippines — The Philippines is on its way to a stronger recovery as gross domestic product (GDP) is now seen to grow by 7.8 percent next year instead of the original projection of a 5.2 percent expansion, a unit of credit rating firm Moody’s said. Steven Cochrane, chief economist for Asia-Pacific at Moody’s Analytics, […]
Read MoreMANILA, Philippines — Karl Benson Molina from Rizal would typically look forward to the start of “ber” months as this also means work. A full-time talent development manager that earns on the sidelines as events host, Molina said this year is different, no thanks to the pandemic. “Usually as soon as September arrives, I would get […]
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