MANILA, Philippines — A Japan-based agency has affirmed the Philippines’ credit rating on the back of stable financial system and positive economic outlook, as well as “diminishing” risk of diplomatic ties dampening the economy under the Duterte administration. In a statement, Research & Investment (R&I) Rating Inc. on Tuesday kept the Philippines’ foreign currency issuer […]
Read MoreMANILA, Philippines — Removing the quantitative restrictions (QR) on rice imports would bring several benefits to the economy, such as lower rice prices and poverty reduction, the Department of Finance (DOF) said yesterday. In his latest economic bulletin, Finance Undersecretary and chief economist Gil Beltran said lifting the QR on rice, in favor of imposing […]
Read MoreMANILA, Philippines —The signing into law of a comprehensive tax reform bill, expected to raise billions of pesos to fund ambitious government programs, is a big Christmas gift to Filipinos as it would usher in a “real positive change” for the Philippines next year. Both Finance Secretary Carlos Dominguez III and Sen. Juan Edgardo Angara, […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) expects sustained growth in foreign direct investment (FDI) inflows as well as lower net outflow of foreign portfolio investments next year amid the country’s strong macroeconomic fundamentals and the ramp up of infrastructure investments. Zeno Ronald Abenoja, director of the BSP’s Department of Economic Research, said […]
Read MoreThe Philippines should prepare local exporters to participate in an online trading platform to help their businesses grow as they work together to achieve an export target of between $122 billion and $131 billion by 2022, a Trade official said. Department of Trade and Industry-Export Marketing Bureau Director Senen Perlada is encouraging exporters to innovate […]
Read MoreThe country’s foreign debt stock fell to $72.36 billion in the third quarter of 2017, the Bangko Sentral ng Pilipinas (BSP) said on Friday, down $5.6 billion from a year earlier. Compared to the previous quarter, outstanding external debt was $125 million less, largely due to $805 million in net repayments — mostly by the […]
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