MANILA, Philippines — Barcelona-based think tank FocusEconomics raised its 2021 inflation forecast for the Philippines to 3.9 percent from the original target of 3.4 percent. This is the second time the think tank raised its inflation forecast after jacking up its projection from 3.1 percent in February. Alexandros Petropoulos, junior economist at FocusEconomics, said the […]
Read MoreMANILA, Philippines — Hotel operators in the Philippines are looking to take in additional bookings from domestic tourists this year to make up for the lack of foreign guests due to travel restrictions set by the government. Paul Ryan Isip, head of capital markets of property consultancy firm JLL Philippines, said hotels still anticipate a […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has retained the cap on interest rates on all credit card retail purchases and cash advances at 24 percent per year or two percent per month amid the low interest regime to help the economy recover from the pandemic-induced recession. In his weekly virtual press conference, […]
Read MoreMANILA, Philippines — The economy contracted by a slightly higher 9.6 percent in 2020 from an earlier estimate of 9.5 percent after data revisions by the Philippine Statistics Authority (PSA) The PSA said the country’s gross domestic product (GDP), a measure of economic output, shrank by a higher rate than the earlier figure reported in […]
Read MoreMANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) still expects inflation to breach five percent in the coming months despite easing to 4.5 percent in March. Jun Neri, lead economist at BPI, said the possibility of inflation breaching the five percent level in the coming months is still significant despite the recent inflation […]
Read MoreMANILA, Philippines — The Philippines’ tourism industry is poised to recover last in Asia as the country struggles to arrest coronavirus spread, likely dealing a huge blow on what was once a booming dollar source for the economy. Together with India, Malaysia and Indonesia, the Philippines is likely to be among the “laggards” in Asia’s […]
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