Expenditures drop, year-to-date target missed The budget deficit narrowed in September from a year earlier, the government reported on Monday, as state spending dropped amid a surge in revenues. The P36.9-billion shortfall for the month was significantly lower than the P75.3 billion posted last year based on data released by the Bureau of the Treasury. […]
Read MorePhilippine economic growth was likely steady in second quarter given continued domestic spending and export gains, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said on Monday. “Solid domestic demand, spurred by national government and consumer spending and rising external demand, appear to be in synch to ensure another […]
Read MoreECONOMISTS expect inflation to settle at 3.1 percent this year, slightly lower than the Bangko Sentral ng Pilipinas’ (BSP) full-year estimate of 3.2 percent. “Analysts noted possible upside risks to inflation such as volatile global oil prices, weaker peso, initial implementation of the comprehensive tax reform program, government spending on infrastructure, rise in utility rates, […]
Read MoreThe government is considering the establishment of exclusive industrial parks for Chinese firms planning to locate in the Philippines, a Cabinet official said. Socioeconomic Planning Secretary Ernesto Pernia said the idea was brought up by prospective investors during a recent non-deal roadshow conducted by Cabinet officials in China. “There were expressions of interest in setting […]
Read MoreTHE country’s balance of payments (BoP) position reverted to a surplus of $24 million in September from a deficit of $7 million in August, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. However, the surplus last month was much lower than the $117-million surplus recorded a year earlier. “The modest BoP surplus derived directly from […]
Read MoreMANILA, Philippines — The Philippines has now tied Vietnam in terms of labor cost attractiveness for manufacturing companies, according to Japanese investors, but the country still has a slight competitive advantage over its regional peers due to the set of incentives provided by the Philippine Economic Zone Authority (PEZA). “We observe that labor cost is […]
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