MANILA, Philippines — The Department of Finance (DOF) has opposed a proposal to suspend excise taxes on fuel, arguing that the government stands to lose P131.4 billion in revenues that can be used to fund pandemic measures. The DOF said the government would give up P24.7 billion in excise revenues and another P106.7 billion in […]
Read MoreMANILA, Philippines — The Philippines remains highly at risk of facing hiccups due to still low vaccination rates even as the economy is slowly reopening, a global think tank said. In a report, Oxford Economics said its latest recovery tracker for Asia-Pacific showed that overall momentum has been hampered over the past few months due […]
Read MoreMANILA, Philippines — Inflation in the country will remain in an uptrend until next year, but its peak should already be expected in the last quarter of 2021. In a report, Oxford Economics said the situation remains under control even as inflationary pressures remain in some emerging Asia-Pacific economies such as the Philippines, India, Malaysia […]
Read MoreMANILA, Philippines — The country’s inventory of frozen pork slightly dropped in the second week of October but the volume remains significantly higher than the previous year due to the influx of imports. Latest data from the National Meat Inspection Service (NMIS) showed that the inventory of frozen pork in accredited cold storages declined by […]
Read MoreMANILA, Philippines — The Philippines has the second worst pension system in Southeast Asia, a global survey showed. According to Mercer’s Global Pension Index 2021, the Philippines ranks among one of the worst countries in terms of giving out retirement incomes, together with Japan, Mexico, South Korea, Turkey, India, Argentina and Thailand. On a scale […]
Read MoreInflation rates this year have been higher than expected by monetary authorities. The target band rate of two to four percent has been met only once so far. The actual rates of inflation have been above the target range. BSP raises inflation expectations. As a result, the Bangko Sentral decided to raise inflation expectation for […]
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