MANILA, Philippines — The national government’s debt pile is estimated to reach P8.77 trillion by the end of next year as the government continues to pursue an aggressive spending strategy for infrastructure and social programs, according to the Department of Budget and Management (DBM). Based on the DBM’s latest Budget of Expenditures and Sources of […]
Read MoreMANILA, Philippines — Credit growth picked up pace in July after slowing down for two straight months as banks are now armed with additional funds from the reduction in the reserve requirement ratio. Bangko Sentral ng Pilipinas Governor Benjamin Diokno said preliminary data showed loans extended by big banks grew at a faster rate of […]
Read MoreMANILA, Philippines — Manufacturing conditions improved at a modest pace in August as firms ramped up input purchasing and hiring during the month, according to the latest IHS Markit Philippines Manufacturing Purchasing Managers Index (PMI). The headline PMI for Philippine manufacturing fell to 51.9 in August, down slightly from 52.1 in July but is still […]
Read MoreMANILA, Philippines — DBS Bank Ltd of Singapore expects the Bangko Sentral ng Pilipinas (BSP) to slash interest rates by another 50 basis points this year as inflation is seen hitting bottom next month due to base effects. Maysita Crystallin, economist for the Philippines and Indonesia at DBS, said inflation may remain stable for the […]
Read MoreMANILA, Philippines — The Philippines will adopt stricter measures on the entry of imported goods as it eyes non-tariff measures as a major policy direction to protect the local agriculture sector. In a meeting with the Philippine Chamber of Agriculture and Food Inc., Agriculture Secretary William Dar said non-tariff measures and a legislated land use […]
Read MoreMANILA, Philippines — A Supreme Court (SC) ruling which increases the internal revenue allotment (IRA) share of local government units (LGUs) has been flagged by economic managers as a risk to the country’s fiscal stability. In its Fiscal Risks Statement 2020, the Development Budget Coordination Committee (DBCC) cited the SC’s decision on the Garcia and […]
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