MANILA, Philippines — RAM Rating Services Berhad of Malaysia expects a 6.7 percent economic growth for the Philippines this year. The economic growth forecast of the Kuala Lumpur-based debt watcher is lower than the 6.9 percent expansion registered last year but well within the 6.5 to 7.5 percent target set by the Cabinet-level Development Budget […]
Read MoreMANILA, Philippines — The national government borrowed P519.97 billion from both domestic and foreign lenders in the first seven months, a sharp 55.7 percent from P334.03 billion in the same period last year, data from the Bureau of the Treasury (BTr) showed. For July, however, the government’s gross borrowings declined 52.4 percent to P14.21 billion […]
Read MoreThe Finance department will keep pressing the Senate to approve the entirety of tax reforms deemed crucial for the government’s infrastructure push. “We respect the Senate — the legislature — that is obviously what they perceive their function to be. Of course we will continue trying to convince them that what is required is a […]
Read MoreThe government shouldn’t insist on spearheading infrastructure development at the expense of unsolicited proposals, a businessman behind two long-delayed projects said. “Unsolicited proposal is provided by law. You cannot just say ‘we are not interested in that, we’ll do ODA (official development assistance) or we’ll do solicited’,” Penson & Co. President and CEO Ricardo Penson […]
Read MoreContinued remittance inflows and a better-than-expected current account position could keep the Philippine peso in P51:$1 territory for the rest of year, ING Bank said on Monday. “The second-quarter current account report and July remittance growth support our guarded optimism for USD/PHP,” the bank said in a market report. The second quarter’s small current account […]
Read MoreMANILA, Philippines — Efforts to temper currency fluctuations as well as lower revenues pulled down the earnings of the Bangko Sentral ng Pilipinas (BSP) in the first seven months of the year as the peso emerged as the worst performing currency in the region. The net income of the BSP fell 22.4 percent to P8.5 […]
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