MANILA, Philippines — The Asian Development Bank (ADB) has raised its growth forecast for the Philippines to 6.7 percent this year and 6.8 percent in 2018, citing strong household consumption, manageable inflation and infrastructure investment. In a supplement to the Asian Development Outlook (ADO) 2017, the multilateral development bank said this year’s growth outlook for […]
Read MoreMANILA, Philippines — The balance of trade swung to a higher 28 percent deficit in October as imports continued to outpace exports, the Philippine Statistics Authority (PSA) reported. Based on data from the PSA, total external trade in goods grew by 10.4 percent in October to $13.58 billion, from $12.30 billion registered in the previous […]
Read MoreMANILA, Philippines — The Philippines continued to book higher foreign direct investments (FDIs) for the fifth straight month, surging 61.8 percent in September on the back of the country’s strong macroeconomic fundamentals and high growth prospects. Buoyed by investor confidence in the Philippine economy, the Bangko Sentral ng Pilipinas (BSP) reported that net FDI inflows […]
Read MoreMANILA, Philippines — The bicameral conference committee has finally harmonized the Senate and the House of Representatives’ versions of the proposed Tax Reform for Acceleration and Inclusion Act, with senators having their way on one controversial provision: the coal tax hike. With both chambers of Congress set to ratify the bill, President Rodrigo Duterte is […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) expects inflation to remain manageable in the coming months given the solid macroeconomic fundamentals of the country, its chief economist said yesterday. In a statement, Finance Undersecretary Gil Beltran said inflation currently remains at a comfortable level, with the consumer price index growing an average 3.13 percent […]
Read MoreMANILA, Philippines — London-based digital money transfer service provider WorldRemit has picked the Philippines for its new regional center in its bid to drive its next phase of growth. The newly opened center in the Philippines, which is expected to create a hundred jobs by the end of 2019, will handle customer queries along with […]
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