MANILA, Philippines — The Philippines will need to “heavily” depend on heightened state spending to fuel economic growth, as household consumption will likely remain in retreat due to rising prices of goods and higher borrowing costs, a global bank said. Data from the Bureau of the Treasury showed disbursements jumped 26 percent year-on-year to P298.6 […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas is rushing the launch of more automated clearing houses (ACHs) particularly on government transactions as it aims to increase the level of cashless transactions to 20 percent by 2020 from the current level of about one percent. Vicente de Villa III, officer-in-charge of the central bank’s financial technology sub-sector (FTSS), said […]
Read MoreThere are too many simplistic and misleading explanations going around about inflation, why it happened and what ought to be done. The problem is… government was in denial about the danger posed by inflation until it came around with a bang. President Duterte blamed our lack of oil resources for inflation and he said that explains […]
Read MoreMANILA, Philippines — Government spending on infrastructure surged by nearly 71 percent to P68.4 billion in August from P40.1 billion in the same month last year due to the completion of road and flood control projects, and the modernization of the military, the Department of Budget and Management (DBM) reported yesterday. “The increase was mostly […]
Read MoreMANILA, Philippines — Based on the cost of private healthcare plans, the Philippines medical inflation rate is projected to reach 13.1 percent this year, according to Mercer Marsh Benefits’ 2018 Medical Trends Around the World. This is expected to be the highest medical inflation rate in Asia, despite the fact that the Philippines’ population—median age of […]
Read MoreMANILA, Philippines — Economists of private banks raised anew their inflation forecasts over the next three years amid rising global oil prices, higher food prices, a weak peso, and the effects of the implementation of the tax reform program. A survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed higher inflation forecasts of 5.3 instead of 4.5 percent for this […]
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