MANILA, Philippines (3rd update: Aug 3 at 11:01 a.m.) — The Philippines would wake up Monday scrambling to adjust to stricter lockdowns due for enforcement in 24 hours, a decision government abruptly made in the wee hours of Sunday after facing renewed public backlash over its pandemic response and an urgent appeal from swamped and exhausted health workers. In […]
Read MoreMANILA, Philippines — The ratio of the country’s consolidated general government debt to gross domestic product (GDP) slightly eased to 34.1 percent in 2019 on the back of the government’s prudent debt management strategy, according to the Department of Finance (DOF). In a statement, the DOF said the general government debt as of end-December 2019 […]
Read MoreMANILA, Philippines — Economists expect inflation to remain benign at 2.5 percent in July due to weak demand for goods owing to the coronavirus pandemic. Ruben Carlo Asuncion, chief economist at Union Bank of the Philippines, said consumption demand remains tepid amid the COVID-19 outbreak. Global oil prices would also remain subdued, keeping price levels […]
Read MoreMANILA, Philippines — Economic output likely contracted by as much as 20 percent in the second quarter, making the Philippines one of the worst-performing economies in Asia, said London-based think tank Capital Economics. The firm said the country’s performance during the quarter will be similar to that of Thailand, which saw a severe decline in […]
Read MoreMANILA, Philippines — Inflation likely stayed manageable this month even as the economy slowly roared back to life from a coronavirus-led shutdown, the Bangko Sentral ng Pilipinas (BSP) said Thursday. In a statement, the central bank’s Department of Economic Research projected consumer prices would rise between 2.2-3% this month. If realized, this would sit comfortably […]
Read MoreMANILA, Philippines — Various consumer groups have expressed dissatisfaction over the lack of concrete plans for the sector. The Power for People Coalition (P4P) has been advocating for relief and reform programs as well as renewable energy development to aid the people’s recovery from the coronavirus crisis and transform the power sector for the better. […]
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