MANILA, Philippines — The United States Department of Agriculture (USDA) has identified the Philippines as a key contributor to the anticipated rise in global rice consumption next year. In a report, the USDA said it forecasts global rice consumption to increase in marketing year 2023-2024 to 523.772 million metric tons from the previous forecast of […]
Read MoreMANILA, Philippines — The Philippines’ average gross domestic product (GDP) growth may drop below five percent in the second half due to higher interest rates, according to Japanese financial giant Nomura. Nomura economist for ASEAN Euben Paracuelles and analyst Rangga Cipta said the Philippine economy may grow by an average of 4.9 percent in the […]
Read MoreMANILA, Philippines — The Philippines is targeting to level up from just a seller of ores by developing its processing capabilities in the next two decades, based on the roadmap outlined by the Mines and Geosciences Bureau (MGB). In a report, the MGB said the government is looking for ways to level up the country’s […]
Read MoreAN official of the Department of Trade and Industry (DTI) said the government’s Philippine Export Development Plan (PEDP) is essential for investments. In a recorded video interview with The Manila Times, DTI Assistant Secretary Allan Gepty said the plan, which covers 2023 to 2028, is the country’s strategic roadmap in enhancing the competitiveness of the country’s […]
Read MoreMANILA, Philippines — Headline inflation may ease further to 3.9 percent toward the end of the year, which may prompt the Bangko Sentral ng Pilipinas (BSP) to cut interest rates as early as the fourth quarter, according to MUFG Global Markets Research. In a report, MUFG said inflation may drop below the BSP’s two to […]
Read MoreMANILA, Philippines — The World Bank has upgraded its 2023 growth forecast for the Philippines as it expects resilient domestic demand to drive growth, despite high inflation. In its Philippines’ Economic Update June 2023, the World Bank said it is projecting a six percent gross domestic product (GDP) growth for the Philippines for this year, […]
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