MANILA, Philippines — After the Philippine economy grew faster than expected in the third quarter, the World Bank has upwardly revised its 2017 growth projection for the country to 6.7 percent. In a statement issued on Friday, the Washington-based multilateral lender said it upgraded its economic growth forecast for the Philippines from the previous estimate of […]
Read MoreForeign investment approvals surged in the third quarter of 2017, but the year-to-date tally remained low, compared with the figure posted a year ago, the government reported on Thursday. Data released by the Philippine Statistics Authority (PSA) showed that seven monitored investment promotion agencies (IPAs) had approved just P43.01 billion in foreign pledges, up 61.1 […]
Read MorePhilippine monetary officials maintained key interest rates on Thursday as expected, given a “broadly unchanged” inflation environment. Consumer price growth forecasts for this year to 2019 were also retained despite upside risks, the Bangko Sentral ng Pilipinas (BSP) announced. In its final meeting for the year, the policymaking Monetary Board (MB) kept the central bank’s […]
Read MoreMANILA: A small economy that’s constantly battling risks beyond its control like typhoons and oil prices has been one of the most successful in managing inflation in Asia. The Philippine central bank, which has an annual inflation target that’s currently set at 2% to 4%, met its goal six times in the past eight years […]
Read MoreMANILA, Philippines — Unemployment in the country rose in October due to a drop in the number of agriculture workers, government data showed. Based on the results of the Philippine Statistics Authority Labor Force Survey(LFS) for October, the jobless rate in October stood at five percent, slightly up from 4.7 percent in the same month […]
Read MoreThe Energy and Mineral Resources Ministry has said that the Philippines’ plan to significantly increase its coal import tax in 2018 will not hamper coal trade between the two Southeast Asian countries in the immediate future. “At present, the Philippines still needs a huge amount of coal for its power plants. So we believe this new policy […]
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