MANILA, Philippines — The Philippine economy is facing a tough 2023 amid a new set of global headwinds that could creep into the domestic front, with growth expected to fall below government expectations, the state-run think tank said. In its latest discussion paper, the Philippine Institute for Development Studies (PIDS) said domestic activity may weaken […]
Read MoreMANILA, Philippines — Wholesale prices of goods in the country rose at a much faster pace in September from the previous month as food, fuel and three other commodity groups registered higher increases, the Philippine Statistics Authority (PSA) said. Data from the PSA showed the annual growth of the General Wholesale Price Index (GWPI) nationwide […]
Read MoreMANILA, Philippines — The Philippine economy may grow above seven percent this year before slowing down significantly next year amid major external headwinds, according to S&P Global Ratings. In a report, the debt watcher raised its gross domestic product (GDP) growth forecast for the Philippines to 7.1 percent from the original target of 6.3 percent […]
Read MoreMANILA, Philippines — The Philippines’ budget deficit is expected to remain wide as the Marcos administration prepares to execute a plan to bring the gap to pre-pandemic levels, according to Singapore-based DBS Bank Ltd. In a report, DBS economist Chua Han Teng said the Philippines aims to reduce the budget shortfall by one percentage point […]
Read MoreMANILA, Philippines — An engineers’ group on Tuesday called on companies to give higher compensation to engineers and scientists, especially for entry-level workers, to help them keep up with the rising cost of living in the country and to retain top talent. Pro-People Engineers and Leaders (PROPEL), an organization composed of engineers and those promoting the […]
Read MoreMANILA, Philippines — The economy will likely grow by over seven percent this year, and be comparatively strong next year even as there are external and domestic challenges, the National Economic and Development Authority (NEDA) said. “After a likely over seven percent growth in 2022, yes, we may slow down, given still elevated external headwinds […]
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