MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) delivered yesterday another surprising and deep 50-basis-point cut in key interest rates to boost market confidence and further mitigate the downside risks to growth. BSP Governor Benjamin Diokno said in a virtual press briefing that the Monetary Board’s decision to cut the key interest rates brought […]
Read MoreMANILA, Philippines — The Philippines suffered in May the biggest monthly net outflow of foreign portfolio investments in more than six years as investors continued to liquidate portfolios and keep money in cash due to heightened worries over the adverse economic impact of the coronavirus disease 2019 or COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas. […]
Read MoreMANILA, Philippines — Energy Secretary Alfonso Cusi is inviting foreign groups to invest in the Philippines, especially as the new normal opens up more opportunities in the country’s energy sector. In his keynote speech at the Annual Global Conference on Energy Efficiency of the International Energy Agency (IEA), Cusi urged investors to take a closer […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) expects the Philippine economy to contract by 3.6 percent this year amid a deeper global economic slump caused by the coronavirus disease 2019 or COVID-19 pandemic. Yongzheng Yang, IMF resident representative to the Philippines, attributed the downward revision of the Philippines’ gross domestic product (GDP) outlook to […]
Read MoreCollections plunge, spending soars due to lockdown MANILA, Philippines — The national government incurred a budget shortfall in May as it continued to increase disbursements in response to the coronavirus disease 2019 or COVID-19 pandemic amid weak revenue generation, the Bureau of the Treasury (BTr) reported yesterday. Based on the latest data from the Treasury, […]
Read MoreMANILA, Philippines — Four in 10 Filipinos expect their quality of life to worsen in the next 12 months amid the coronavirus disease 2019 (COVID-19) pandemic, according to a recent Social Weather Stations (SWS) survey. The poll, taken from May 4 to 10, found 43 percent of the respondents expecting their quality of life to […]
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