MANILA, Philippines — The law signed by President Duterte which lifed the import restrictions on rice, making the food staple more affordable for Filipinos, would lead to lower inflation, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo said the signing into law of the rice tariffication bill, converting quota restrictions on […]
Read MoreA proposal calling for a shift to high-value crop production could lead to the death of the domestic rice industry, a Cabinet official said on Thursday. “[A proposed] policy to just rely on imported rice and ask our rice farmers to diversify to other crops is a death trap.” Agriculture Secretary Emmanuel Piñol said in a statement. […]
Read MoreMANILA, Philippines — Retail prices of selected construction materials in Metro Manila accelerated in January as price increases were seen in electrical, masonry and miscellaneous building materials, the Philippine Statistics Authority (PSA) reported yesterday. The Construction Materials Retail Price Index (CMRPI) in the National Capital Region (NCR) rose 2.5 percent in January 2019 from 2.4 […]
Read MoreMANILA, Philippines — The Department of Budget and Management (DBM) expects inflation to settle within the government’s two to four percent target by the second quarter, a top official said yesterday. During his weekly press briefing, Budget Secretary Benjamin Diokno said inflation may continue to ease in the coming months, and settle back within the government target for 2019. “Around second quarter,” Diokno […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) expects the Philippines to score higher in the economic freedom index of the Heritage Foundation next year, following the enactment of various laws that set improvements on Filipinos’ property rights and trade freedom. In his latest economic bulletin, Finance Undersecretary and chief economist Gil Beltran said the country may perform better in the […]
Read MoreMANILA, Philippines — The country’s trade balance deteriorated to a record-high deficit of $41.44 billion last year as imports rose sharply while exports waned down, the Philippine Statistics Authority (PSA) reported yesterday. Although the trade gap narrowed to a three-month low in December as imports declined for the first time in a year, the PSA […]
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