MANILA, Philippines — The Philippines may import more rice and corn this year due to lower rice production and the extension of lower tariffs, according to the United States Department of Agriculture (USDA). In a report, the USDA-Foreign Agricultural Service (FAS) raised its rice import forecast for the Philippines to 3.8 million metric tons (MT) […]
Read MoreKEY interest rates will likely be raised anew as inflation is expected to have accelerated last month and remain elevated in the first few months of 2023, analysts said. While December consumer price growth may not have not breached the Bangko Sentral ng Pilipinas’ 7.8 to 8.6 forecast for the month, a continued rise in […]
Read MoreMANILA, Philippines — The proposed establishment of the pioneering sovereign wealth fund in the country is seen addressing the dearth in sources of long-term capital, according to state-run Development Bank of the Philippines. DBP president and CEO Emmanuel Herbosa said the Maharlika Investment Fund (MIF) is imperative to broaden investments in critical areas such as […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has issued rules for the participants in an infrastructure that provides real-time settlement of payments, funds transfer instructions, and other obligations individually on a transaction-by-transaction basis to ensure the smooth flow of funds in the financial system. BSP Governor Felipe Medalla said that the Peso Real […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to roll back some of this year’s rate increases late next year as the country is expected to post slower economic growth and inflation in 2023, according to United Kingdom-based think tank Pantheon Macroeconomics. In a report yesterday, Pantheon Macroeconomics chief emerging Asia economist […]
Read MoreMANILA, Philippines — The country’s budget shortfall narrowed in November as the growth in revenues managed to outpace overall state spending during the month, according to the Department of Finance. DOF data showed that the deficit in November shrank by 3.7 percent to P123.9 billion from P128.7 billion in the same period last year. The […]
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