MANILA, Philippines — The outflow of speculative funds hit $805 million in the five months to May, reversing the $1.1 billion net inflow in the same period last year, as fewer hot money entered the Philippines for the fourth straight month in May. Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) showed the […]
Read MoreMANILA, Philippines (Update 2, 8:42 p.m.) — The regional wage board in the National Capital Region has approved a P40 increase in the minimum wage, bringing it to P610 a day for non-agriculture workers, the Department of Labor and Employment. The increase granted is less than half of the P150 across-the-board daily minimum wage hike inching forward in […]
Read MoreMANILA, Philippines — The country’s economic growth remained robust in the second quarter, with gross domestic product (GDP) expanding by around six percent, the Bangko Sentral ng Pilipinas (BSP) said. Outgoing BSP Governor Felipe Medalla said in an economic forum that the economy likely expanded by around six percent from April to June this year. […]
Read MoreMANILA, Philippines — The return of El Niño would have minimal impact on the prices of goods and services, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Francisco Dakila Jr. told reporters that the central bank has yet to include the impact of lower than usual rainfall in the Philippines in the latest […]
Read MoreMANILA, Philippines — Private economists further lowered their inflation forecasts for 2023 and 2024 as prices cooled due to the aggressive rate hikes delivered by monetary authorities, outgoing Bangko Sentral ng Pilipinas Governor Felipe Medalla said. In a forum, Medalla said results of the latest survey of private economists for June showed a lower inflation […]
Read MoreMANILA, Philippines — The government recorded a lower budget deficit of P122.2 billion in May as revenue collections increased and expenditures barely moved amid the slow spending rate of state agencies. Data from the Bureau of the Treasury showed that the Marcos administration reverted back to a budget shortfall of P122.2 billion last month after […]
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