MANILA, Philippines — The Philippine economy is strong enough to absorb rate hikes aimed at curbing rising inflationary pressures and stabilizing the peso, according to the Bangko Sentral ng Pilipinas. BSP Governor Felipe Medalla told participants of a roundtable discussion between key economic officials and US-based business and financial communities in Washington that a 25-basis-point […]
Read MoreMANILA, Philippines — The country’s rice inventory inched up by 3.5 percent in August, the Philippine Statistics Authority (PSA) said. In its latest rice and corn stocks inventory report, the PSA said total rice stocks inventory stood at 1.633 million metric tons (MT) as of August 1, higher than the 1.578 million MT registered in […]
Read MoreMANILA, Philippines — The country’s meat imports breached the one billion-kilo mark as of the end of September, still driven by pork and chicken shipments. Latest data from the Bureau of Animal Industry (BAI) showed the country imported 1.01 billion kilos of meat and meat products from January to September, up 11.9 percent from the […]
Read MoreMANILA, Philippines — The exposure of Philippine banks to the volatile property segment eased slightly to 21.8 percent in the first half from 22.2 percent in the same period last year, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data from the BSP showed investments and loans extended by the banking industry to the […]
Read MoreMANILA, Philippines — Inflation remained painfully high in September after a devastating typhoon that hit the country during the month exacerbated persistent supply problems. In a briefing on Wednesday, the Philippine Statistics Authority reported inflation quickened 6.9% year-on-year in September. This was much faster than the 6.3% recorded in the preceding month. This exceeded the national […]
Read MoreJoining the ranks of high-income countries is the holy grail of developing economies. The World Bank (WB) defines high income countries as having Gross National Income (GNI) per capita of $12,696 or more. This universal aspiration came into sharp focus recently as the NEDA announced that the Philippines will aim to be a high-income country […]
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