MANILA, Philippines — The projected two percent decline in remittances from overseas Filipino workers (OFWs) due to the COVID-19 pandemic may have minimal impact on the economy, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diok-no said risks to OFW remittances remain on the downside due mainly to the continued large repatriation of […]
Read MoreThe government is temporarily reopening some “local” and “customary” border crossings in a bid to revive the economy and minimise the impacts of the Covid-19 pandemic. The move is part of government efforts to balance the imposition of measures to contain the virus with the easing of restrictions to enable businesses to import and export […]
Read MoreThe National Assembly’s Finance and Budget Committee has agreed not to adjust the minimum wage in 2021 and has warned about the pressure on public debt payment. The committee issued a report on inspecting the state budget implementation in 2020; the state budget estimate and the central budget allocation plan in 2021; and the implementation […]
Read MoreMANILA, Philippines — Borrowings secured by the national government ballooned to P2.56 trillion from January to September as it ramped up its debt issuances and loan availments to fund coronavirus response measures, according to the Bureau of the Treasury (BTr). Based on BTr data, the national government’s gross borrowings from January to September surged by […]
Read MoreDeputy Prime Minister Supattanapong Punmeechaow, who is also energy minister, has outlined strategies to boost national revenue next year in a bid to reinvigorate the economy in the fallout of Covid-19. He said the government will continue wooing targeted foreign investors to the much-touted Eastern Economic Corridor (EEC). The EEC has already made progress in […]
Read MorePresident Joko “Jokowi” Widodo called on ministers and regional leaders on Thursday to keep inflation in check and expedite stimulus spending in an effort to boost purchasing power amid the COVID-19-induced economic downturn. The country had to keep inflation at a “balanced point”, Jokowi said, so that businesses could continue their operations while the movement […]
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