The government recently relaxed the loan terms for tourism businesses to encourage more micro, small and medium enterprises to avail of the loan program. In a statement, the Department of Tourism (DoT) said that under the relaxed terms of the Coronavirus disease 2019 (Covid-19) Assistance to Restart Enterprises (Cares) for Travel program, the grace period […]
Read MoreMANILA, Philippines — The Philippines’ current account surplus may narrow over the next few years as the country recovers from the pandemic-induced recession, according to S&P Global Ratings. The debt watcher said the surplus may narrow to 2.3 percent of gross domestic product (GDP) this year, 1.2 percent in 2022 and 0.1 percent in 2023 […]
Read MoreMANILA, Philippines — The Philippine economy is expected to register a substantial 15 percent growth in the second quarter, largely due to low base effects, but also owing to a tailored approach in restrictions following a second wave of COVID-19 cases, a foreign think tank said. In its latest economic monitor, UK-based Pantheon Macroeconomics said […]
Read MoreMANILA, Philippines — The net inflow of foreign direct investments (FDIs) more than doubled in March as the gradual reopening of the economy further boosted investor sentiment, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the net FDI inflow amounted to $808 million in March, up by nearly 140 percent from […]
Read MoreMANILA, Philippines — The next administrations would have to tighten their belts to prevent further growth of the government’s debt load, which has gotten heavier due to hefty coronavirus borrowings. But the reduction of accumulated debts would be a slow one, as the economy would continue to face perennial problems beyond the Duterte administration that would […]
Read MoreMANILA, Philippines — The Philippines’ dollar reserves slightly went down in May after the government withdrew cash from the country’s dollar stock to settle its maturing debts. What’s new The country’s gross international reserves amounted to $106.98 billion in May, down 0.68% month-on-month, the Bangko Sentral ng Pilipinas reported Friday. Why this matters Foreign reserves […]
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