8-month deficit expands more than 6-fold MANILA, Philippines — The country’s fiscal deficit widened further to P740.7 billion in the eight months to August, a sharp 515 percent increase from P120.4 billion a year ago as the coronavirus pandemic continued to weaken revenues amid an increase in spending, the Bureau of the Treasury (BTr) said. […]
Read MoreTHE Philippines seeks investments in nuclear energy as it is moving closer to adoping this power source, according to the Department of Energy (DoE). In his speech at the International Atomic Energy Agency (IAEA) Scientific Forum on Tuesday, Energy Secretary Alfonso Cusi said he hoped “our update would open doors for potential collaborative opportunities in […]
Read MoreMore than half of respondents in the survey of a life insurance company believe that the Philippine economy would take a longer time to bounce back from the impact of the coronavirus disease 2019 (Covid-19) pandemic. At a briefing on Wednesday, Melissa Henson, senior vice president and chief marketing officer of Manulife Philippines, revealed that […]
Read MoreAn Australia-based research body sees a stable Philippine peso for the rest of the year, but warned that the currency may weaken once domestic demand picks up next year. In a report on Wednesday, ANZ Research projected the local unit to end 2020 at P48.40:$1, stronger than its P50.63:$1 finish in 2019. The peso is […]
Read MoreThe Management Association of the Philippines (MAP) on Tuesday expressed hope the European Union (EU) will not remove the country’s zero-tariff export status. “We fervently hope that the removal of the GSP (generalized system of preferences plus) by the EU countries will not push through. It will make our products less competitive and will seriously […]
Read MoreMANILA, Philippines — The Philippines is expected to see a huge drop in local pork and chicken production this year as the African swine fever (ASF) remains a concern and demand is still weak. Based on the latest monthly report of the United States Department of Agriculture (USDA) Foreign Agricultural Service, domestic production is seen […]
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