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Philippines: Debt-to-GDP ratio seen at record low this year

MANILA, Philippines –  The national government’s outstanding debt may reach P6.47 trillion by end-2017, corresponding to about 40.76 percent of the country’s gross domestic product, the Bureau of the Treasury said. National Treasurer Rosalia De Leon said the country’s outstanding debt for 2017 may increase 6.24 percent to P6.47 trillion from the P6.09 trillion recorded […]

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Philippines: Ecozone investments soar 71% to P120.2 B

MANILA, Philippines – Investments registered at the Philippine Economic Zone Authority (PEZA) continue to pour in, surging 71 percent in the first half of the year on the back of sustained investor confidence in the current administration, the country’s ecozone regulator said. PEZA director general Charito Plaza said investment pledges approved by the agency from […]

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Philippines: Govt debt grows 7.8% to P6.34T in May

NATIONAL government debt rose 7.8 percent year-on-year to P6.34 trillion in May, but fell from April after the government redeemed some of its securities and a stronger peso cut the value of the try’s dollar bonds, the Bureau of the Treasury (BTr) said on Monday. The Treasury did not offer any explanation for the year-on-year […]

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Philippines a net gainer from peso depreciation

MANILA, Philippines – The economy stands to gain more from a depreciating peso, the Department of Finance (DOF) said. In an interview, Finance Secretary Carlos Dominguez said the Philippines is a net gainer from peso depreciation as the rise in revenue outpaces the increase in disbursements for every peso shed by the local currency against […]

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WB downgrades 2017 Philippines growth forecast to 6.8%

MANILA, Philippines – The World Bank downgraded its economic growth forecast for the Philippines this year to 6.8 percent, but retained its growth projection of 6.9 percent for 2018. The revised 2017 projection considers recent economic trends and compares with the 6.9 percent growth forecast in April, the multilateral lending institution said. “Reflecting slower public […]

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