MANILA, Philippines — The government slightly slowed down in its releases of cash allocations but state agencies managed to increase their utilization rate as of February following the record P5.268-trillion budget this year. Latest data from the Department of Budget and Management (DBM) showed that notices of cash allocation (NCAs) went down by five percent […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is optimistic the gross domestic product (GDP) will grow close to seven percent in the first quarter amid the series of rate hikes to tame inflation and stabilize the peso. According to BSP Governor Felipe Medalla, the central bank expects a GDP expansion of almost seven […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas hiked interest rates on Thursday in a bid to contain brutal inflation that has sapped the public’s purchasing power. Following the Monetary Board’s meeting on Thursday, the BSP injected 25 basis points into its benchmark lending rate. This brought the key rate to 6.25% since the central bank […]
Read MoreMANILA, Philippines — More economists are betting the Bangko Sentral ng Pilipinas (BSP) will dial down on its rate tightening cycle with a smaller 25-basis-point hike amid the slight easing of inflation last month. Aris Dacanay, economist for ASEAN at HSBC, said the central bank’s Monetary Board is likely to hike key policy rates by […]
Read MoreMANILA, Philippines — The Philippine economy is unlikely to be negatively affected by the string of bank failures in the US and Europe, the National Economic and Development Authority (NEDA) said. “I don’t think that we’ll be badly affected,” NEDA Secretary Arsenio Balisacan said during a roundtable discussion of the Wallace Business Forum, Financial Executives […]
Read MoreTARGETED interventions are needed as young Filipinos were particularly hit in job terms by the Covid-19 pandemic, the World Bank said on Wednesday. “The youth group was disproportionately affected by the pandemic shock on the labor market, and the scarring effect may stay long after the economic activities return,” World Bank Country Director said as […]
Read More
Thailand
