MANILA, 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 […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) has raised its gross domestic product (GDP) forecast for the Philippines this year, following the country’s surprisingly strong economic performance in the third quarter, but it expects growth to slow next year. In the ADB’s Asian Development Outlook Supplement for December released yesterday, the multilateral lender said […]
Read MoreMANILA, Philippines — Vehicle sales in the country continued to post double-digit growth in the 11 months of the year, driven by growing consumer demand, data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed. In a joint report, CAMPI-TMA said year-to-date new motor vehicle sales increased […]
Read MoreMANILA, Philippines — The country’s trade gap continued to narrow in October as exports rose while imports grew at a slower pace, the Philippine Statistics Authority (PSA) said. Preliminary data released by the PSA yesterday showed the balance of trade in goods or the difference between the value of the country’s exports and imports amounted […]
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