THE government’s budget deficit rose to P210.3 billion in March following a double-digit revenue drop, Treasury bureau data showed on Tuesday. Spending also fell, by 2.62 percent, but earnings plunged by nearly 12 percent, leading to a shortfall 12.04 percent higher compared to year-earlier P187.7 billion. Year to date, the budget gap rose to P270.9 […]
Read MoreMANUFACTURING growth slowed further in April, S&P Global reported on Tuesday, with the latest Philippine purchasing managers’ index (PMI) hitting an eight-month low, and also falling below the average since 2016. At 51.4, the PMI result was still positive and marked a 15th straight month of improved operating conditions. It was lower, however, than March’s […]
Read MoreMANILA, Philippines — Inflation likely stayed above seven percent in April, way above the two to four percent target set by the Bangko Sentral ng Pilipinas (BSP), according to economists. ANZ Research chief economist Sanjay Mathur, economist Debalika Sarkar, and senior strategist Irene Cheung said inflation last month further eased to 7.3 percent from a […]
Read MoreMANILA, Philippines — The revised regulations on value added tax (VAT) zero-rating is seen to encourage Philippine Economic Zone Authority (PEZA)-registered business enterprises (RBEs) to source more of their service requirements locally. In a message to reporters, PEZA director-general Tereso Panga explained that before the revised guidelines, RBEs were exposed to VAT payments because the […]
Read MoreMANILA, Philippines — Card payments in the Philippines are expected to continue to post double-digit growth this year, as consumer spending increases, according to data and analytics firm GlobalData. In a statement, GlobalData said card payments in the country are likely to grow by 10.1 percent to reach P2.5 trillion this year. It said last […]
Read MoreMANILA, Philippines — Consumer price growth is projected to have eased in April, as the Bangko Sentral ng Pilipinas observed energy costs and some food costs soften earlier this month. In a statement on Friday, the BSP expected inflation to settle between 6.3-7.1% in April. Even if the upper-range of the forecast is realized, this would […]
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