MANILA, Philippines — Economists expect the Bangko Sentral ng Pilipinas (BSP) to follow suit with a reduction in banks’ reserve requirement ratio (RRR) this week to free up more funds to boost the country’s slowing economy. ING Bank Manila senior economist Nicholas Mapa said the BSP’s Monetary Board is likely to resume the reduction of […]
Read MoreMANILA, Philippines — The national government’s fiscal deficit as a share of the country’s gross domestic product (GDP) narrowed in the first quarter as expenditure effort declined due to the delay in the 2019 budget, according to the Department of Finance (DOF). In a report, Finance Undersecretary and chief economist Gil Beltran said the government’s […]
Read MoreMANILA, Philippines — The anticipated recovery of the local automotive industry this year remains elusive as sales growth went flat in April, bringing the four-month total still behind last year’s figures. In a joint report released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association Inc. (TMA) yesterday, the […]
Read MoreMANILA, Philippines — Government spending on infrastructure declined by 5.7 percent in March as some line agencies were unable to implement new projects under the reenacted budget, according to the Department of Budget and Management. According to the latest disbursement report of the DBM, infrastructure and capital outlays amounted to P59.7 billion in March, 5.7 […]
Read MoreMANILA, Philippines — Amid a new rice regime, the Philippines is seen increasing its imports for the year to 2.8 million metric tons despite an expected improvement in local production of Filipinos’ main staple. The Philippines is seen sourcing some 2.8 million MT as additional imports are set following policy changes removing quantitative restrictions on […]
Read MoreMANILA, Philippines — Excise taxes collected from sugar-sweetened beverages (SSB) fell short of target in 2018, raising questions on the type of sweetener used by beverage companies for their products, the Department of Finance (DOF) reported. According to data sent by the DOF to reporters, excise taxes on sugary drinks generated P42.6 billion in additional […]
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