MANILA, Philippines — The proportion of Filipinos either unemployed or out of business continued to drop in October, but the jobs being generated are low quality and do not pay enough amid rising cost of living. A nationwide survey of 43,641 households showed there were 2.60 million jobless Filipinos in October, translating to an unemployment […]
Read MoreMANILA, Philippines — The country’s economic managers expect to further reduce the share of the budget deficit to national output this year on the back of above-target revenue performance as the economy reopens. The Cabinet-level Development Budget Coordination Committee (DBCC) said it is looking at the fiscal deficit, when measured against gross domestic product (GDP), […]
Read MoreMANILA, Philippines — The World Bank raised its gross domestic product (GDP) growth forecast for the Philippines this year after a stronger-than-expected performance in the third quarter, but cautioned that growth would slow next year, citing unfavorable developments in the global environment that could affect the domestic economy. In its Philippines Economic Update report, the […]
Read MoreMANILA, Philippines — The World Bank upgraded its forecast on the domestic economy’s growth in 2022 but expects some slowdown next year as persisting headwinds continue to loom overhead. In the yearend edition of its Philippine economic update, the Washington-based lender said it now expects the economy to expand 7.2% year-on-year in 2022, from its […]
Read MoreMANILA, Philippines (Updated 11:10 a.m.) — Filipino consumers did not get their much-needed respite from high prices last month after inflation quickened faster than expected in November. At a briefing on Tuesday, the Philippine Statistics Authority reported that inflation surged 8% year-on-year in November. This was faster than the 7.7% recorded in the previous month and the highest […]
Read MoreMANILA, Philippines — The Bureau of Customs (BOC) raked in a record P790.3 billion in revenues as of end-November, effectively overshooting its own target and that of the goal set by the government for the whole year. Latest data showed BOC’s total collections reached P790.3 billion from January to November or 9.5 percent higher than […]
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