MANILA, Philippines — Debt watcher S&P Global Ratings expects more rate cuts from the Bangko Sentral ng Pilipinas (BSP) over the next two years amid the continued inflation downtrend and soft economic growth. In a report, S&P said it expects the BSP to slash interest rates by 75 basis points this year and by 50 […]
Read MoreTHE Asean+3 Macroeconomic Research Office (AMRO) on Tuesday kept its Philippine economic growth forecasts for this year and next despite seeing anemic factory and export output in the region. In the July update of its Asean+3 Regional Economic Outlook, AMRO maintained its gross domestic product (GDP) growth projection for the country at 6.3 percent for […]
Read MoreMANILA, Philippines — The country’s budget deficit shrunk in the first six months due to lower government spending, according to the Bureau of the Treasury (BTr). According to the latest cash operations report of the BTr, the national government incurred a fiscal deficit of P42.6 billion from January to June, 77.9 percent lower than the […]
Read MoreMANILA, Philippines — Motor vehicle production in the Philippines continued to fall behind the rest of Southeast Asia as it posted the biggest decline in output at 29.5 percent in the five months to May this year. Data from the ASEAN Automotive Federation showed the Philippines churned out 25,892 motor vehicles as of end-May, lower […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) will push for the approval of higher excise taxes on electronic cigarette and vaping products in the 18th Congress, a top official said over the weekend. In a text message to reporters, Finance Secretary Carlos Dominguez said the DOF is planning to submit a proposal to the […]
Read MoreMANILA, Philippines — The food retail industry in the country will continue to expand with total sales expected to reach a record-high $50 billion, driven by rising income and a growing population. In the latest report of the United States Department of Agriculture-Foreign Agricultural Service (USDA-FAS), the domestic food retail market is seen increasing by […]
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