MANILA, Philippines — The government is bent on meeting this year’s infrastructure spending program even as expenses remain below target as of end-September. Department of Budget and Management (DBM) Secretary Amenah Pangandaman has indicated that infrastructure spending will be achieved despite the slowdown in the first half of the year due to the national elections. […]
Read MorePork, corn, rice, coal MANILA, Philippines — The National Economic and Development Authority (NEDA) is pushing for the extension of the reduced tariffs for pork, corn, rice and coal, at least for another year, as prices remain elevated. Socioeconomic Secretary Arsenio Balisacan said during the Saturday News Forum that the NEDA Board has endorsed the […]
Read MoreMANILA, Philippines — The gross domestic product (GDP) growth of the Philippines will significantly slow to five percent next year from the projected 7.2 percent this year as tailwinds supporting the post-pandemic recovery have matured, ANZ Research said. “Factors that supported the rebound in domestic demand have reached their point of maximum strength and should […]
Read MoreMANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) sees the country’s economic growth slowing to below six percent but is expected to avoid recession next year amid external headwinds. In a virtual press conference, Jun Neri, lead economist at BPI, said the gross domestic product (GDP) growth of the Philippines may ease to […]
Read MoreMANILA, Philippines — As widely expected, the Bangko Sentral ng Pilipinas (BSP) delivered a softer 50-basis-point hike at the last rate-setting meeting of the Monetary Board for the year, as inflation is seen accelerating further and peaking this month. This brings the benchmark interest rate to a 14-year high of 5.50 percent, the highest since […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) will lend $4.3 billion annually over the next three years to the Philippines to support infrastructure, climate change and agriculture projects. “We are discussing with the government our new country strategy and are looking at three core strategic pillars that are aligned to President Marcos’ eight-point socioeconomic […]
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