MANILA, Philippines – The economy stands to gain more from a depreciating peso, the Department of Finance (DOF) said. In an interview, Finance Secretary Carlos Dominguez said the Philippines is a net gainer from peso depreciation as the rise in revenue outpaces the increase in disbursements for every peso shed by the local currency against […]
Read MoreMANILA, Philippines – The World Bank downgraded its economic growth forecast for the Philippines this year to 6.8 percent, but retained its growth projection of 6.9 percent for 2018. The revised 2017 projection considers recent economic trends and compares with the 6.9 percent growth forecast in April, the multilateral lending institution said. “Reflecting slower public […]
Read MoreMANILA, Philippines – While significant progress has been made in opening up the ASEAN markets by easing tariffs, the excessive use of non-tariff measures (NTMs) remain as barriers to intra-regional trade, according to a paper by the Philippine Institute of Development Studies (PIDS). Duties on several goods changing hands within Southeast Asia are now at […]
Read MoreMANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said it expects inflation to hover at a range of 2.4 percent to 3.2 percent in June following lower fuel and energy prices. “The BSP forecast suggests that June inflation could settle within the 2.4 to 3.2 percent range,” BSP Governor Amando Tetangco Jr. said in […]
Read MoreMANILA, Philippines – Foreign currency loans extended by local banks continued to grow as of end-March as disbursements exceeded principal repayments, the Bangko Sentral ng Pilipinas (BSP) said over the weekend. BSP Governor Amando Tetangco Jr. said outstanding loans granted by foreign currency deposit units (FCDUs) of banks reached $14.35 billion as of end-March, 14.7 […]
Read MoreMANILA, Philippines – Foreign businessmen are keeping their bullish prospects for the country intact as they commended the Duterte administration’s first year performance despite noting a couple of moves deemed “inappropriate.” “We acknowledge the notable achievements of the current administration thus far. With this, it is fair to say that they have done a commendable […]
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