Philippines: Q2 GDP grew on election spending – analysts Sunday, August 14, 2016 – Estimates range from 6.1% to 7.2%THE economy likely expanded in the second quarter of 2016 year-on-year, boosted by election spending, higher government spending, and private consumption, according to analysts polled by The Manila Times.These growth-positive inputs likely diminised the negative impact […]
Read MorePhilippines: Net FDI down in May Thursday, 11 August 2016 – Elections likely caused investor jitters in May, pulling down foreign direct investments (FDI) by nearly a 10th, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. FDI recorded a net inflow of $364 million, 9.6 percent down from $403 million in the same period a […]
Read MorePhilippines: Exports drop for 15th straight month in June Thursday, 11 August 2016 – Merchandise exports fell 11.4 percent in June, its 15th straight month of decline, due to the persistent weak demand from major export markets, the National Economic and Development Authority (NEDA) said yesterday. Based on Philippine Statistics Authority (PSA) data, total export […]
Read MorePhilippines: Budget releases hit P2.68 T from January to July Wednesday, August 10, 2016 – Budget releases of the new administration surged in July, consistent with President Duterte’s promise to spend more and widen the deficit. A total of P2.68 trillion or 89.1 percent of the P3.002-trillion outlay has been released to agencies in the […]
Read MorePhilippines: BOC creates group to address revenue collection goals Wednesday, August 10, 2016 – The Bureau of Customs has created a group to address its persistent failure to meet revenue collection targets. In a statement yesterday, Customs commissioner Nicanor Faeldon said he established the committee on revenue enhancement (CORE) to find solutions on the “huge […]
Read MorePhilippines: Oil exploration firms appeal COA ruling on income tax payment Wednesday, August 10, 2016 – The Petroleum Association of the Philippines (PAP) is appealing a Commission on Audit (COA) ruling for exploration companies to pay income tax on top of the royalties paid to government. In a briefing yesterday, PAP executive director Benjamin Austria […]
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