MANILA, Philippines ? Inflation accelerated to 2.5 percent in June after four consecutive months of slowdown, driven by increases in the cost of transportation, particularly tricycles, which hiked fares by more than a hundred percent to recoup losses during the lockdown and cope with limited passenger carrying capacity, according to the Philippine Statistics Authority (PSA). […]
Read MoreMANILA, Philippines — The government has raised P1.22 trillion from both domestic and foreign lenders in the first four months as it ramped up its borrowings to finance coronavirus response measures, according to the Department of Finance (DOF). Citing data from the Bureau of the Treasury (BTr), the DOF said national government borrowings from January […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) expects the economy to contract for the remaining quarters of the year amid the more disruptive impact of the COVID-19 pandemic. BSP Governor Benjamin Diokno said the country’s gross domestic product (GDP) may further shrink until the end of the year after contracting by 0.2 percent […]
Read MoreMANILA, Philippines — Credit growth slowed down for the second straight month in May as the government extended the enhanced community quarantine to limit the spread of COVID-19, according to the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin Diokno said preliminary data showed loans extended by universal and commercial banks increased by 11.6 percent […]
Read MoreMANILA, Philippines — Money supply grew at a fastest pace in almost six years in May as measures to soften the impact of the COVID-19 pandemic released more cash into the financial system, according to the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin Diokno said domestic liquidity grew faster at 16.6 percent to P13.68 […]
Read MoreMANILA, Philippines — The government’s tax revenues saw an improvement last June, but still remained lower year-on-year in the first half amid the coronavirus disease 2019 or COVID-19 pandemic, the Department of Finance (DOF) reported yesterday. Citing preliminary data, DOF said the combined collections of the Bureau of Internal Revenue (BIR) and Bureau of Customs […]
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