MANILA, Philippines — A price freeze that last year proved ineffective on curbing rising prices has again become the Duterte administration’s top strategy to get surging pork and vegetable inflation under control. President Rodrigo Duterte is set to issue an executive order (EO) that will put a cap on pork and vegetable prices, “hopefully this week,” […]
Read MoreMANILA, Philippines — Economists of private banks have raised their inflation forecasts for 2021 as the economy gradually reopens, according to a survey conducted by the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald Abenoja, senior director of the BSP’s Department of Economic Research (DER), said that private sector economists expect a higher inflation of 2.9 […]
Read MoreMANILA, Philippines — Banks continued to impose tighter overall credit standards for real estate loans amid less favorable economic conditions and deterioration in borrowers’ profile due to the impact of the pandemic. Dennis Lapid, deputy director of the Department of Economic Research at the Bangko Sentral ng Pilipinas (BSP), said the results of the fourth […]
Read MoreMANILA, Philippines — Economic decline in the fourth quarter of 2020 likely continued to slow down, but nonetheless remained steep because of remaining restrictions, according to London-based Capital Economics. In a research paper issued over the weekend, the think tank said the Philippines’ fourth quarter 2020 gross domestic product (GDP) likely contracted by 8.5 percent […]
Read MoreMANILA, Philippines — Motor vehicle and motorcycle production, as well as sales in the Philippines, recorded a double-digit drop from January to November last year compared to a year ago on continued weak market demand due to the pandemic. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed motor vehicles assembled […]
Read MoreMANILA, Philippines — Tourism stakeholders are requesting for the deferment of the payment of local business taxes this year given the severe impact of the COVID-19 pandemic on the operations of the industry. In a letter to Department of the Interior and Local Government (DILG) Secretary Eduardo Año, Tourism Congress of the Philippines (TCP) president […]
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