MANILA, Philippines — After last year’s record-breaking economic devastation, the Philippines is off to a sluggish start in resuscitating a weakened economy and is unlikely to see a return to growth until the second quarter. “To be honest, this year will be a slow start and we will ramp up by the middle of the year […]
Read MoreMANILA, Philippines — The Independent Electricity Market Operator of the Philippines (IEMOP) expects wholesale electricity spot market (WESM) prices to remain generally low this year despite an increase in demand. In a virtual briefing yesterday, IEMOP manager for pricing valuation and analysis John Paul Grayda said spot market prices are projected to reach as low […]
Read MoreS&P says credit upgrade possible MANILA, Philippines — The Philippines may emerge as one of the fastest-growing economies in the region over the next two years, according to US-based credit rating agency S&P Global Ratings. The debt watcher sees the Philippine economy rebounding with a growth of 9.6 percent this year and 7.6 percent next […]
Read MoreMANILA, Jan 28 (Reuters) – The Philippine economy shrank at a slower pace in the fourth quarter of last year, helped by higher government spending, but saw a record full-year contraction in 2020 as it grappled with the fallout of the COVID-19 pandemic. Gross domestic product (GDP) shrank 8.3% in the December quarter from a […]
Read MoreMANILA, Philippines (UPDATE 12:14 p.m., Jan. 28) — The Philippine economy expectedly shrank the largest on record last year after the coronavirus pandemic messed not only with the country’s hard-earned economic laurels but also with its ambitions to become a middle-income economy under President Rodrigo Duterte. The health crisis’ impact was so severe that the slump in gross […]
Read MoreAs global economy remains weak MANILA, Philippines — Exports plunged anew in December after recovering in November, reflecting slower global economic recovery and a severe decline in the outbound shipments of agriculture products. Data released by the Philippine Statistics Authority (PSA) yesterday showed total export sales dropped by 0.2 percent on an annual basis in […]
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