The gradual reopening of the Philippine economy in the remaining months of 2020 could narrow the current account surplus, according to Fitch Solutions. In a report late last week, the macroeconomic research arm of the Fitch Group said its core economic scenario saw the economy gradually reopening through late 2020 and early 2021, allowing domestic […]
Read MoreMANILA, Philippines — The gap in the country’s trade balance further widened in July, the most in four months, as imports continue to outpace exports, the Philippine Statistics Authority (PSA) said. Total external trade in goods during the month amounted to $13.13 billion, from $12.137 billion in June. This, however, was still a decline of […]
Read MoreMANILA, Philippines — The Philippines will likely lower its rice imports to 2.2 million metric tons this year from three million MT in 2019 amid improving local production. During the deliberation on DA’s 2021 budget yesterday, Agriculture Secretary William Dar said local production is seen to improve this year and achieve a record high production […]
Read MoreMANILA, Philippines — More Filipinos may be dragged back to poverty by the pandemic next year, a scenario that senators quizzing economic managers on the 2021 budget calls for more government support. By the Duterte administration’s estimates, between 15.5% and 17.5% of the population may be designated as poor next year, Acting Socioeconomic Planning Secretary […]
Read MoreMANILA, Philippines — Poverty in the country can be expected to worsen next year as the jobs and livelihood of more people in urban areas are affected by the prolonged lockdown, the National Economic and Development Authority (NEDA) said yesterday. Acting Socioeconomic Planning Secretary Karl Chua told the Senate finance committee yesterday that poverty incidence […]
Read MoreMANILA, Philippines — Metro Manila and nearby provinces lost an estimated P1.5 trillion in sales for every month that these areas were on lockdown, according to the Department of Finance (DOF). Citing estimates from the National Economic and Development Authority (NEDA), Finance Secretary Carlos Dominguez said during the Sulong Pilipinas Forum on Tuesday that imposing […]
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