MANILA, Philippines — The Philippines incurred a budget shortfall of P180.91 billion in September, bringing the total budget gap from January to September to P1.139 trillion as the government’s pandemic-related expenses continue to surge, the Bureau of the Treasury (BTr) said yesterday. The nine-month deficit was nearly 30 percent higher than the P879.21 billion shortfall […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has revived plans to use plastic or polymer to print banknotes that are more hygienic, environment friendly, durable and secure than the cotton and abaca fiber composite being used now. In a virtual press briefing, BSP Deputy Governor Mamerto Tangonan said the central bank is currently […]
Read MoreMANILA, Philippines — Economic recovery for Southeast Asia is expected to be more pronounced next year, as the region learns to live with COVID, with the Philippines expected to post the strongest rebound. In its weekly economic preview, market intelligence firm IHS Markit said the economic scenario for 2022 continues to be positive for ASEAN […]
Read MoreAverage 4.3% forecast exceeds gov’t target MANILA, Philippines — Economists of private banks hiked their inflation forecast to 4.3 percent from the original target of 4.1 percent, higher than the central bank’s two to four percent target this year amid upward price pressures, according to the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald Abenoja, managing […]
Read MoreMANILA, Philippines — The government will spend P1 billion to provide fuel subsidy to Public Utility Vehicles (PUV) drivers reeling from rallying oil prices that, if left unchecked, could stoke inflation and hurt a fragile economic recovery. The money will be released to the Land Transportation Franchising and Regulatory Board (LTFRB), which will grant cash […]
Read MoreBanks see strict credit rules for commercial real estate loans in the fourth quarter of the year, but a loosening for individual borrowers, according to the Bangko Sentral ng Pilipinas (BSP). The central bank said lenders’ responses in its Third Quarter 2021 Senior Bank Loan Officers’ Survey (SLOS) continued to signal anticipation of net tougher […]
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