MANILA, Philippines — The Philippine economy may grow by 5.8 percent this year, faster than its earlier 5.6 percent projection, due to sustained consumption and amid expectations of a rebound in China’s growth, according to S&P Global Market Intelligence. “Continued rapid GDP (gross domestic product) growth of around 5.8 percent y/y (year-over-year) is expected in […]
Read MoreMANILA, Philippines — The government brought down its borrowings by 16 percent last year as the economy continued to recover from the pandemic, with its financing program hitting just 98 percent. Latest data from the Bureau of the Treasury showed total borrowings in 2022 went down to P2.16 trillion from the P2.58 trillion in obligations […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has stressed the need to address the current challenges brought about by tighter global financial markets and elevated inflation to be able to maintain the “A-” credit rating of the Philippines. BSP Governor Felipe Medalla said monetary authorities would continue to use the necessary policy levers […]
Read MoreMANILA, Philippines — Nearly half or 48% of Filipinos believe that the economy will pick up in 2023, a survey by the Social Weather Station has found. This outnumbered the 33% who said that it will stay the same and the 9% of Filipinos who said that the economy will worsen in the next 12 […]
Read MoreMANILA, Philippines (Corrected, 11:55 a.m.) — The Philippines exceeded its foreign direct investments target in 2022 despite headwinds and a projected global recession dampening investor sentiment. Data from the Bangko Sentral ng Pilipinas revealed on Friday that FDI amounted to net inflows in 2022, but plunged 23.2% year-on-year to $9.2 billion haul. FDIs represent firmer commitments from foreign investors that generate […]
Read MoreMANILA, Philippines — Listed utility firm Manila Electric Co. raised its power rate in March after a scheduled maintenance of Malampaya facility pushed up generation costs for the month. In a statement on Friday, Meralco said its overall electricity rate went up by P0.5453 per kWh to P11.4348 per kWh this month. That means a typical […]
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