MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is likely to further slash the benchmark interest rates as central banks in Asia-Pacific are seen keeping a highly accommodative stance to boost the recovery of their respective economies from the pandemic-induced recession, according to global rating agency Fitch Ratings. In its 2021 outlook titled “Growth […]
Read MoreMANILA, Philippines — The Philippines is set to become a laggard in Southeast Asia with the deepest economic contraction as it struggles to control the COVID-19 outbreak, according to Maybank Kim Eng. Maybank is now looking at a deeper GDP contraction of 7.8 percent instead of 6.5 percent this year for the Philippines, bigger than […]
Read MoreMANILA, Philippines — Employers and workers are opposing a government plan to push through with a scheduled increase in contributions to the Social Security System (SSS) next year while the pandemic is forcing businesses to shut down and employees laid off. “In general, we are not for any increase at this time because of bad […]
Read MoreMANILA, Philippines — Long-term economic scarring in the Philippines because of the coronavirus pandemic can be expected to be among the worst in the world, according to Oxford Economics. In a recent global research paper, the UK-based research firm said the overall long-term economic scarring would be worse in emerging markets than advanced economies because […]
Read MoreMANILA, Philippines — The government needs to help smoothen the movement of food items to help normalize prices following a spike in November that was caused by the series of typhoons that hit the country, according to the Department of Finance (DOF). In his latest economic bulletin, Finance Undersecretary Gil Beltran said inflation in November […]
Read MoreMANILA, Philippines — Business group Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) expects the economy to recover and post a 7.5 percent growth by next year with the further reopening of more sectors. “We at the FFCCCII strongly support the country’s approach to gradually reopen our Philippine economy, while still upholding strict […]
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