MANILA, Philippines — The Philippines sank deeper into a dollar deficit in September as foreign currency fluctuations sent the national government’s debt payments into steep territory. What’s new The country’s balance of payments (BOP) amounted to a deficit of $2.3 billion in September, wider compared with the $412 million deficit a year ago, the Bangko […]
Read MoreMANILA, Philippines — The National Economic and Development Authority (NEDA) expects the continued uptick in inflation this year and in 2023 to cut the country’s economic growth by 0.6 percent next year. “We are particularly concerned about higher inflation. Our analysis shows that sustained increases in inflation in 2022 and 2023 will cause a slowdown […]
Read MoreMANILA, Philippines — The Philippine economy may grow by just 4.1 percent next year, below the government’s target of 6.5 to eight percent, due to elevated inflation and the risk of a global recession, according to Economist Impact, the research arm of The Economist Group. Economist Impact regional policy and insights head Andrew Staples warned […]
Read MoreMANILA, Philippines — The Marcos Jr. administration projected on Tuesday that the Philippines’ economic growth will be tempered next year, especially since they expect the country will be at the mercy of global headwinds that stoked inflation. This is what the public should expect, according to Socioeconomic Planning Secretary Arsenio Balisacan, since global headwinds led […]
Read MoreMANILA, Philippines — The amount of US dollars sent home by overseas Filipino workers (OFWs) to their families in the Philippines grew at a faster rate of more than four percent in August, according to the Bangko Sentral ng Pilipinas (BSP). It said personal remittances – the sum of net compensation of employees, personal transfers, […]
Read MoreMANILA: The Philippines will continue to use interest rates to mitigate against inflation and may step in to defend a depreciating peso, President Ferdinand Marcos Jr said on Tuesday. “We may have to defend the peso in the coming months, but the overall forecast is that we are still doing better than other countries in […]
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