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ADB eyes $4.3 billion annual lending to Philippines until 2025

MANILA, Philippines — The Asian Development Bank (ADB) will lend $4.3 billion annually over the next three years to the Philippines to support infrastructure, climate change and agriculture projects. “We are discussing with the government our new country strategy and are looking at three core strategic pillars that are aligned to President Marcos’ eight-point socioeconomic […]

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ADB hikes Philippine growth forecast to 7.4% this year

MANILA, Philippines — The Asian Development Bank (ADB) has raised its gross domestic product (GDP) forecast for the Philippines this year, following the country’s surprisingly strong economic performance in the third quarter, but it expects growth to slow next year. In the ADB’s Asian Development Outlook Supplement for December released yesterday, the multilateral lender said […]

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Philippines: Vehicle sales up 31% in months

MANILA, Philippines — Vehicle sales in the country continued to post double-digit growth in the 11 months of the year, driven by growing consumer demand, data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed. In a joint report, CAMPI-TMA said year-to-date new motor vehicle sales increased […]

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Philippines: Trade gap narrows in October

MANILA, Philippines — The country’s trade gap continued to narrow in October as exports rose while imports grew at a slower pace, the Philippine Statistics Authority (PSA) said. Preliminary data released by the PSA yesterday showed the balance of trade in goods or the difference between the value of the country’s exports and imports amounted […]

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Philippines: GDP growth to fall below 2023 target

MANILA, Philippines —  The Philippine economy is seen continuing its growth trajectory next year although at a moderate pace and falling below government expectations amid a slowdown in the global arena. In a briefing yesterday, Sun Life Investment Management and Trust Corp. (SLIMTC) said the economy is bound to face headwinds due to global recessionary […]

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