MANILA, Philippines — The pandemic-induced rise of government debts likely hit its peak already, and a return to pre-crisis fiscal health could happen late next year, Finance Secretary Carlos Dominguez III said Wednesday. As of end-March, government debt, as a share of the economy, has risen to 60.4%, and Dominguez believes that that level remains manageable. […]
Read MoreMANILA, Philippines — Manila-based Asian Development Bank (ADB) is keeping its economic growth outlook for the Philippines at 4.5 percent this year amid a sea of downgrades in Southeast Asia due to the resurgence of COVID-19 cases. In its Asian Development Outlook Supplement released yesterday, ADB said its gross domestic product (GDP) growth forecasts for […]
Read MoreMANILA, Philippines — The Philippines has cited the need for regional and international collaboration in the agriculture sector in a bid to build more sustainable food systems. In a virtual meeting with five other Asian agriculture ministers on Monday, Agriculture Secretary William Dar encouraged his counterparts to unite and strive to achieve desired goals and […]
Read MoreMANILA, Philippines — The country’s sugar production for the current crop year has already surpassed the government’s full-year target, according to the Sugar Regulatory Administration. Data from the Sugar Regulatory Administration (SRA) showed that sugar output reached 2.137 million metric tons as of the first week of July, slightly lower than the 2.14 million MT […]
Read MoreMANILA, Philippines — The Philippine economy will be at the losing end anew once the Delta variant infects more people and prompts the government to impose another round of strict lockdown measures, highlighting the need to expedite COVID-19 vaccination in the country, economists said. The country is facing another threat of COVID-19 case resurgence with […]
Read MoreThe sales of imported cars jumped in the first six months of the year, the Association of Vehicle Importers and Distributors Inc. (AVID) said on Monday. The importer group reported that car sales improved by 55 percent to 30,153 units in January to June from 19,509 units in the same period last year. AVID said June sales alone outpaced […]
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