MANILA, Philippines – The massive infrastructure spending lined up by the Duterte administration may boost the country’s output by at least 1.5 percent per year, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo said during the Economic Forum 2017 organized by BusinessWorld that the government has committed to spend P8.4 trillion […]
Read MoreMANILA, Philippines – The Philippines could potentially enjoy a credit rating upgrade should the government implement its tax reform program, Budget Secretary Benjamin Diokno said yesterday. Diokno said the approval of the substitute tax reform bill in the Congress, despite the watered down provisions, would put the Philippines in a good fiscal position, and increase […]
Read MoreMANILA, Philippines – The Philippines remained one of the fastest-growing economies in Asia at the start of the year, but the pace of growth fell below expectations. The National Economic and Development Authority (NEDA) reported yesterday gross domestic product (GDP) expanded 6.4 percent in the first quarter – lower than the market forecast of between […]
Read MoreMANILA, Philippines – Economists of investment banks see the country’s gross domestic product (GDP) growth recovering strongly after a weaker-than-expected private consumption resulted to disappointing results in the first quarter of the year. Credit Suisse economist Michael Wan said the surprisingly weak private consumption dragged the GDP growth to 6.4 percent in the first quarter […]
Read MoreMANILA, Philippines (UPDATED 12:03 p.m.) — The Philippine economy posted a 6.4-percent growth in the first quarter of the year, the government announced Thursday. At a televised press conference, Economic Planning Secretary Ernesto Pernia said that the country remains one of the strongest performers among emerging economies in Asia. The Philippine overtook the 5.1-percent growth of […]
Read MoreMANILA — The Philippine economy grew at its slowest pace in more than a year in the first quarter, but resilient exports and strong consumer spending are likely to keep momentum buoyant this year. The pace was the weakest for the Southeast Asian economy since the last quarter of 2015, but the government said the […]
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