MANILA, Philippines — The Duterte administration’s budget deficit swelled to its widest monthly level this year so far in March, hurt by a latest collapse in revenues likely to persist as the government awaits returns from lower tax rates while the pandemic bill explodes without signs of a compelling economic revival. The bad news is there are […]
Read MoreMANILA, Philippines — International arrivals in the first quarter declined by about 98 percent as the government imposed a travel ban on foreigners, tourism data obtained by The STAR showed. Visitor arrivals from January to March declined to 29,383, from 1.39 million during the same period last year. Inbound travel was still allowed in the […]
Read MoreAs high unemployment seen to linger MANILA, Philippines — The Asian Development Bank (ADB) has joined other international agencies and local think tanks that cut growth projections for the Philippine economy this year. In a virtual briefing yesterday, ADB country director Kelly Bird said the Manila-based multilateral lender has substantially slashed its gross domestic product […]
Read MoreMANILA, Philippines — The Philippines has lost momentum in recovering from the pandemic due to the reimposition of movement restrictions and must now accelerate economic activities to catch up with regional counterparts, a think tank said yesterday. In a research briefing, UK-based Oxford Economics said the Philippines faces downside risks in growth expectations for the […]
Read MoreMANILA, Philippines — An expansionary monetary support remains warranted as the reimposition of strict mobility restrictions may impede the country’s faster recovery from the pandemic-induced recession, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. In a virtual forum, Diokno said the Monetary Board is likely to keep its monetary policy accommodative in support […]
Read MoreMANILA, Philippines — The Duterte administration’s budget deficit swelled to its widest monthly level this year so far in March, hurt by a latest collapse in revenues likely to persist as the government awaits returns from lower tax rates while the pandemic bill explodes without signs of a compelling economic revival. The bad news is there are […]
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