MANILA:The Philippine central bank said bond sales will become its main tool to control liquidity in the financial system, with its maiden sale of the securities on track for this quarter. “The Bangko Sentral ng Pilipinas securities, over time, shall be considered the BSP’s main liquidity tool for locking in structural liquidity surplus, ” the […]
Read MoreMANILA, Philippines — The government’s economic planning body is standing pat on its forecast 5.5 percent gross domestic product (GDP) contraction this year despite the emergence of other risk factors on top of the prevailing COVID-19 pandemic. In a presentation before the Senate committee on finance yesterday, acting Socioeconomic Planning Secretary Karl Chua said the […]
Read MoreMANILA, Philippines — The transformation of the local agriculture industry, anchored on the shift away from specific crops and toward a more demand-driven sector, is necessary to fast-track the economic recovery of the Philippines amid the coronavirus disease pandemic. During the virtual launch of its latest report yesterday, the World Bank said transforming agriculture into […]
Read MoreMANILA, Philippines — The country’s agricultural trade value dropped 20 percent to $4.07 billion in the second quarter of the year amid lesser exports due to constraints brought about by the pandemic. Latest data from the Philippines Statistics Authority (PSA) showed agricultural imports comprised 64.3 percent of the bulk of the trade while exports made […]
Read MoreMANILA, Philippines — Global rating agency Fitch Ratings expects the Philippines to suffer a deeper economic contraction of eight percent this year, and noted a continued erosion of the country’s fiscal buffers amid the coronavirus pandemic. In a report, Fitch Ratings said the Philippine economy may decline by much more than the previous estimate of […]
Read MoreMANILA, Philippines — The total number of businesses registered with the Department of Trade and Industry (DTI) went up by 12 percent in eight months this year as a growing number of firms resorted to online submissions. In a statement yesterday, the DTI said data from its Business Name Registration Division showed the total number […]
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