MANILA: The Philippine economy exited a pandemic-induced recession with its fastest year-on-year growth in over three decades, but tighter Covid-19 curbs could hamper the recovery and boost expectations monetary policy will remain accommodative for the rest of 2021. Gross domestic product (GDP) rose 11.8% in the June quarter from a Covid-driven slump a year earlier, […]
Read MoreMANILA, Philippines — The government ramped up its borrowings in the first semester to nearly P2 trillion in an effort to speed up the economy’s recovery from the impact of the pandemic. According to the Bureau of the Treasury, the borrowings increased by more than 12 percent to P1.93 trillion in the first half, from […]
Read MoreMANILA, Philippines — Economists are not expecting any surprises as the Bangko Sentral ng Pilipinas (BSP) is likely to keep interest rates at record lows to support the economy’s faster recovery from the pandemic-induced recession. Bansi Madhavani, senior economist at ANZ Research, said the easing inflation reaffirms that the central bank would likely keep an […]
Read MoreMANILA, Philippines — The lingering pandemic was less damaging to the economy in the first quarter than originally reported, state statisticians said Monday. Gross domestic product shrank at an annualized rate of 3.9% in the first three months, softer than preliminary 4.2% on-year collapse reported last May. The latest figure takes into account a larger […]
Read MoreMANILA: The Philippines’ central bank will keep its accommodative monetary policy plans for as long as needed to ensure a strong and sustainable economic recovery from the coronavirus pandemic, its governor said on Monday. Bangko Sentral ng Pilipinas Governor Benjamin Diokno also said he expects a “strong recovery” in the second quarter after a contraction […]
Read MoreSlides back to within government target MANILA, Philippines — Inflation further eased in July, sliding back to within the government target for the first time this year, as transport prices decelerated, but rising costs of some items in the food basket are fueling concerns this would affect prices in the coming months. Headline inflation, the […]
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