NUEVA ECIJA, Philippines — Contenders to be President Rodrigo Duterte’s successor to Malacañang are urging his administration to act on the rapidly rising fuel prices due to Russia’s invasion of Ukraine. Sen. Ping Lacson and Vice President Leni Robredo called for the government to suspend the imposition of excise taxes on fuel, which would immediately […]
Read MoreMANILA, Philippines — The Duterte administration is seen booking the highest share of personal income tax (PIT) collection to the gross domestic product (GDP) after pursuing massive fiscal reforms, according to the Department of Finance (DOF). Finance Assistant Secretary Valery Brion said the contribution of PIT effort averaged 2.4 percent of GDP between 2017 and […]
Read MoreMANILA, Philippines — Headline inflation is seen hitting 3.5 percent this year, still slower than the 2021 level despite increased pressure due to the ongoing Ukraine-Russia war. In its latest economic monitor, international think tank Pantheon Macroeconomics significantly raised its inflation forecast for 2022 to 3.5 percent from 2.8 percent. This as the conflict between […]
Read MoreMANILA, Philippines — The net inflow of foreign direct investments (FDI) soared by 54.2 percent to hit an all-time high of $10.52 billion last year, as global investors returned following the country’s exit from the pandemic-induced recession, the Bangko Sentral ng Pilipinas said. BSP Governor Benjamin Diokno said the amount last year topped the previous […]
Read MoreMANILA, Philippines — Sales of the country’s vehicle assemblers dipped by seven percent in February, but the industry expects to see recovery with the further reopening of the economy. A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) released yesterday showed total vehicle sales reached […]
Read MoreMANILA, Philippines — Foreign trade sustained its nascent climb in January, with both exports and imports inching up despite stringent curbs back then. What’s new External trade expanded 20.1% year-on-year to $16.78 billion in January, the Philippine Statistics Authority reported Friday. This was slower than the 25.9% annual growth rate in December last year, and […]
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