MANILA, Philippines — The net outflow of speculative funds or hot money more than tripled to $3.94 billion from January to October compared to last year’s $1.22 billion despite the strong inflows in October, according to the Bangko Sentral ng Pilipinas (BSP). The BSP traced the higher net outflow of foreign portfolio investments during the […]
Read MoreMANILA, Philippines — The Philippines may incur P3.4 trillion in economic losses this year due to the pandemic and the destruction brought about by the recent typhoons, a lawmaker and economist said. In a virtual economic forum organized by Security Bank, Marikina City Rep. Stella Quimbo said the economic damage arising from the pandemic-induced recession […]
Read MoreMANILA, Philippines — The Philippines may not be able to get out of the pandemic-induced slump until the health crisis has passed over most of the world, the World Bank said yesterday. In a presentation during the BusinessWorld Virtual Economic Forum yesterday, World Bank country director for the Philippines Ndiame Diop said the unique impact […]
Read MoreThe government’s fiscal gap ballooned year-on-year to P61.4 billion in October amid lower revenues and expenditures during the month, according to the Bureau of the Treasury (BTr). Data from the Treasury bureau showed on Wednesday that the shortfall was bigger than the P49.3-billion deficit a year earlier, but smaller than the P138.5-billion gap in September. […]
Read MoreMANILA, Philippines — The country’s fiscal deficit widened by almost three-fold from January to October as government spending continued to outpace revenue generation, the Bureau of the Treasury (BTr) reported yesterday. According to the latest cash operations report of the BTr, the government’s budget shortfall from January to October reached P940.6 billion, a sharp 170 […]
Read MoreMANILA, Philippines — Growth will likely return to its pre-pandemic trajectory by the middle of 2022 when the economy has fully adapted to interventions and precautions implemented in line with its reopening, according to acting Socioeconomic Planning Secretary Karl Chua. Speaking during the BusinessWorld Virtual Economic Forum yesterday, Chua said while there would certainly be […]
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