MANILA, Philippines — The Asian Development Bank (ADB) has retained its growth forecast for the Philippines at 6.5 percent this year on the back of robust domestic demand, increased public investments in infrastructure and social services and positive business sentiment. In an update to its Asian Development Outlook (ADO) 2017, the Manila-based multilateral development bank […]
Read MoreMANILA, Philippines — The Philippines needs a strong fiscal performance to keep the pace of the country’s economic expansion similar to that in the second quarter, according to Dutch financial giant ING Bank. “A strong fiscal performance is needed to keep gross domestic product growth at around 6.5 percent in the third quarter,” ING Bank […]
Read MoreGovernment spending must increase to support the current pace of economic growth, Netherlands-based financial institution ING Bank said on Monday. “A strong fiscal performance is needed to keep GDP growth at around 6.5 percent in third quarter,” ING Bank Manila senior economist Joey Cuyegkeng said. Citing the government’s August cash operations report, Cuyugkeng said that […]
Read MoreMANILA, Philippines — The Philippine Exporters Confederation Inc. (Philexport) is opposing the need for a law implementing a compressed work week as it appeals for a status quo, wherein employers are allowed to decide the suitable work hours for their employees considering the ecosystem within which they operate. “We suggest that the status quo be […]
Read MoreMANILA, Philippines — The country’s inflation rate may exceed 3.4 percent this year due to the impact of higher oil prices as well as the wage hike in Metro Manila, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo said authorities expect inflation to slightly exceed the 3.4 percent recorded in March […]
Read MoreMANILA, Philippines — The Philippines is reviving its plan to join the Trans-Pacific Partnership (TPP) even as the mega-trade deal pushes through without the US, the Department of Trade and Industry said. The country recently conveyed its intention to join the TPP to Japan, one of the stronger economies part of the now 11-country pact, […]
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