MANILA, Philippines — The country’s external payments position strengthened for the fourth straight month with the balance of payments (BOP) surplus hitting $467 million in February, a complete reversal of the $429 million deficit recorded in the same month last year due to strong inflows, according to the Bangko Sentral ng Pilipinas. Data released by […]
Read MoreMANILA, Philippines — Buyers from mainland China had dominated residential sales in the Philippines amid improving ties between Manila and Beijing, real estate services firm Leechiu Property Consultants said. In a report dated March 18, Leechiu Property said overseas Filipino workers are no longer the top buyers in the residential market following a surge in mainland Chinese […]
Read MoreMANILA, Philippines — London-based Capital Economics expects the Bangko Sentral ng Pilipinas to keep its key policy rates steady in a meeting this week. “We think the BSP will wait until May to adjust policy,” said the research firm in a research note over the weekend. As inflation eased to a one-year low of 3.8 percent in February, the […]
Read MoreMANILA, Philippines — The country’s external debt climbed by eight percent last year due to higher borrowings by the private sector particularly banks, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend. Newly installed BSP Governor Benjamin Diokno said the country’s external debt reached $79 billion or 23.9 percent of gross domestic product (GDP) in 2018 from $73.1 […]
Read MoreMANILA, Philippines — Barcelona-based Focus Economics expects the Philippines to incur a wider trade deficit this year as imports continue to accelerate further. Lindsey Ice, economist at FocusEconomics, said the trade gap could widen to $44 billion instead of $42 billion this year from last year’s $41.44 billion. Ice said Focus Economics now sees imports […]
Read MoreMANILA, Philippines — The growth in remittances is expected to remain subdued over the next few years, but the Philippine economy can hold up despite the effect on consumption if monetary and fiscal policies are loosened this year and employment growth is sustained, London-based Capital Economics said. In a report issued yesterday, the think tank […]
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