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Philippines: Deficit-to-GDP ratio likely below 3%

MANILA, Philippines — The share of the national government’s budget deficit to the country’s gross domestic product (GDP) may have reached 2.6 percent to 2.8 percent in 2017, according to the Department of Finance (DOF). In an interview, Finance Undersecretary and chief economist Gil Beltran said the government’s deficit-to-GDP ratio was estimated to have settled […]

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Philippines: PPMI tapped as partner in retail payment system

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) recently acknowledged the Philippine Payments Management Inc. (PPMI) as a partner in implementing the National Retail Payment System (NRPS), paving the way for the establishment of a more accessible and competitive financial system. In a circular, BSP Governor Nestor Espenilla Jr. said the Monetary Board has […]

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Philippines: Government steps up efforts to ease doing business

MANILA, Philippines — The government’s inter-agency task force on ease of doing business is ramping up efforts and speeding up reforms to improve the country’s competitiveness and remove bureaucratic red tape. Trade Secretary Ramon Lopez, chair of the National Competitiveness Council and the inter-agency Doing Business Task Force, said all instrumentalities of government involved in […]

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Philippines stays out of US piracy list

MANILA, Philippines — The Philippines has managed to stay out of the US list of “notorious markets” for piracy and trademark counterfeiting for the sixth straight year. Results of the 2017 out-of-cycle eeview of notorious markets by the Office of the US Trade Representative (USTR) showed the Philippines maintained its clean record of not hosting […]

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