Lower tariffs on chicken and fish products could result in nearly P3 billion in potential revenue losses for the government, a senior Finance department official said. “For two products (chicken and fish) it’s about P2.8 billion,” Finance Undersecretary Gil Beltran told reporters when asked about the potential revenue loss if tariffs were reduced to a uniform 5 […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers contracted in June, tumbling to the lowest level in three months amid the decline in the deployment of Filipino workers due to the government’s repatriation program in the Middle East, the Bangko Sentral ng Pilipinas reported yesterday. BSP Governor Nestor Espenilla Jr. said personal remittances consisting of cash and […]
Read MoreMANILA, Philippines — Monetary and fiscal authorities vowed swift and timely action amid the extraordinarily volatile markets due to external and domestic headwinds that continue to affect the Philippines. Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. said the Financial Stability Coordination Council (FSCC) continues to assess potential risks to the stability of the local financial system. Espenilla, who is also […]
Read MoreMANILA, Philippines — Several business groups joined the call of Philippine economic managers for fiscal prudence, more dialogues and a well-considered approach in the proposed shift to federalism. Last Sunday, seven business groups expressed support to the country’s economic managers who ruged the Congress to weigh the costs and risks involved on the proposed shift from […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) is pushing for the adoption of a similar system as rice tariffication on sugar wherein imports would be allowed to enter the country with a tariff. Trade Secretary Ramon Lopez told reporters the proposal would involve allowing sugar imports as long as tariffs are paid as a form of […]
Read More(Philippine Daily Inquirer/ANN): Foreign direct investments (FDI) continued to surge into the Philippines for the January-May 2018 period, with registered net inflows hitting $4.8 billion, or a growth of 49 per cent from the comparable period in 2017, the Bangko Sentral ng Pilipinas (BSP) said. In a statement, the central bank said investment inflows were boosted […]
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