MANILA, Philippines — The country’s agriculture sector fell by 1.7 percent in 2021, mainly driven by declines in the livestock sector. Data from the Philippine Statistics Authority (PSA) showed that the value of production in local agriculture inched up to P495.5 billion in the last quarter of 2021 rom P492.8 billion in the same period […]
Read MoreMANILA, Philippines — The Philippines recorded a narrower $1.34 billion balance of payments (BOP) surplus in 2021, falling short of the $1.6 billion target for the period, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin Diokno said the country’s BOP reverted to a surplus in December with $991 million from a deficit of […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) has hiked its economic growth forecast for the Philippines in 2021 and expects a return to pre-pandemic levels by the end of this year. Ragnar Gudmundsson, IMF resident representative for the Philippines, said in an e-mail that the country’s gross domestic product (GDP) expanded by 4.6 percent […]
Read MoreMANILA, Philippines — Wholesale prices of building materials in Metro Manila surged in November as the easing of the alert level system prompted more construction activities, the Philippine Statistics Authority (PSA) said. The latest Construction Materials Wholesale Price Index (CMWPI), which is used as a reference in the costing of government projects, swelled 5.4 percent […]
Read MoreMANILA, Philippines — S&P Global Ratings expects Philippine banks to enjoy a sustained credit growth of five to seven percent this year amid the return of corporate and individual borrowers as the country continues to recover from the impact of the pandemic. In a report, Nikita Anand, primary credit analyst at S&P, said the Philippine […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) vowed to tame inflation after breaching the two to four percent target last year amid rising global oil prices and elevated food prices. In an open letter to President Duterte, BSP Governor Benjamin Diokno said that inflation may return to the government’s target range of two […]
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