MANILA, Philippines — The Philippines successfully raised the share of digital payments to 20 percent of retail transactions last year from only one percent seven years ago amid the shift in consumer behavior due to the quarantine measures brought about by the global health pandemic, according to the Bangko Sentral ng Pilipinas (BSP). BSP Deputy […]
Read MoreMANILA, Philippines — The renewed tighter restrictions in the capital due to surging COVID-19 cases may put the Philippine economy at risk of a double-dip recession, a global think tank said, but the government maintained that the economy remains on track for recovery and growth. In its latest economic monitor, UK-based Pantheon Macroeconomics said the […]
Read MoreMANILA, Philippines — Cigarette manufacturers planning to set up operations in special economic zones (SEZs) will soon be required to register with the Bureau of Internal Revenue (BIR) in an effort to curb illegal tobacco trade, said the Department of Finance (DOF). Finance Secretary Carlos Dominguez III said some locators registered with the Philippine Economic […]
Read MoreMANILA, Philippines — The peso may weaken against the dollar over the next two years as the Philippines continues to struggle in containing the still raging pandemic, according to Fitch Solutions Country Risk & Industry Research. Fitch Solutions now expects the local currency to settle at an average of 48.4 to $1 instead of strengthening […]
Read MoreMANILA, Philippines — New restrictions imposed by the government to stem rising COVID-19 cases are expected to delay the country’s economic recovery, according to the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII). During the Tapatan sa Aristocrat forum yesterday, FFCCCII president Henry Lim Bon Liong said that at the start of the […]
Read MoreMANILA, Philippines — Emerging economies in Asia like the Philippines should continue to strengthen their fiscal response to ensure economic recovery as the pandemic’s end is nowhere within sight. In the latest Asian Development Bank blog, ADB principal economist Jong Woo Kang expressed concern that emerging countries are not spending enough to shore up their […]
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