MANILA, Philippines — The benchmark Philippine Stock Exchange index (PSEi), the stock market gauge, managed to rise yesterday despite reports the economy contracted for the first time in more than two decades. The main composite index went up by 13.89 points, or 0.24 percent, to close at 5,653.16. On the other hand, the broader All […]
Read MoreFirst time in over 2 decades MANILA, Philippines — Multiple economic shocks at the start of the year weakened the Philippine economy in the first quarter, as it posted its worst performance since the Asian financial crisis in 1998, the Philippine Statistics Authority (PSA) reported yesterday. Gross domestic product (GDP), the broad measure of economic […]
Read MoreThe effect of coronavirus disease 2019 or COVID-19 on the Philippine economy for the rest of the year deserves attention. The good prospects entertained for 2020 have been shattered by the onslaught of the pandemic, which required extreme measures that has put the economy to a halt. Assessing the immediate future. What is in store as […]
Read MoreMANILA, Philippines (UPDATE 2 12:43 p.m., May 7)— The Philippine economy shrank for the first time in more than 21 years in the first quarter, the clearest sign of damage from the coronavirus pandemic which both government officials and analysts expect to worsen this quarter. Gross domestic product (GDP), the sum of all goods and services […]
Read MoreIn preparation for a further relaxation of quarantine guidelines in the country after the May 15, Congress is readying the passage of a “new normal” code of conduct for the whole nation to prevent any future spread of the coronavirus infection until a vaccine or some similar more permanent solution is found. A bill, which […]
Read MoreThe share of the Philippines’ national debt to its overall economy is likely to jump in 2020, according to Capital Economics. In a report on Monday night, the London-based research consultancy firm estimated that the country’s debt-to-gross domestic product (GDP) ratio could hit 50 percent this year. The outlook compares with the Philippines’ revised debt-to-GDP […]
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