MANILA, Philippines — The Philippine economy grew by 6.8 percent in the first quarter, in line with market expectations, to remain one of the best performers in Asia next to Vietnam and China. Philippine Statistics Authority data showed that for the 10th consecutive quarter, gross domestic product (GDP) growth hit 6.5 percent and above. For […]
Read MoreMANILA, Philippines — The country’s trade deficit widened by 24 percent to $2.61 billion in March as imports continued to outgrow exports for the fifth straight month, the Philippine Statistics Authority (PSA) reported yesterday. In its latest report, the PSA said exports contracted by 8.2 percent to $5.5 billion in March from $6 billion a […]
Read MoreMANILA, Philippines — Sen. Paolo Benigno “Bam” Aquino IV on Thursday filed a bill allowing the suspension of additional petrol taxes under the government’s tax reform law should the three-month inflation average exceed official targets. Under Senate Bill 1798, government agencies will be empowered to suspend the excise tax on fuel under the Tax Reform […]
Read MoreMANILA, Philippines — The Philippines’ trade deficit persisted last month on the back of marginal increase in imports and weaker exports, the government reported on Wednesday. The country’s balance of trade in goods swung to a $2.61 billion deficit in March, wider than the $2.10 billion shortfall a year ago but narrower than the $3.06 […]
Read MoreMANILA, Philippines — Freezing the implementation of the Tax Reform for Acceleration and Inclusion Act could be more harmful than helpful, as it could disrupt the government’s revenue targets, the country’s Budget chief said Wednesday. “Suspending the law is to me out of the question. It has to be implemented,” Budget Secretary Benjamin Diokno said […]
Read MoreMANILA, Philippines — Policymakers must closely monitor rising consumer prices, with Philippine inflation seen to keep going up to breach the central bank’s target, the International Monetary Fund said on Wednesday. “Inflation should remain within the target band… but the authorities will need to watch carefully for building inflation pressure, as well as rapid credit […]
Read More
Thailand
