MANILA, Philippines — Government efforts to diversify merchandise exports and improve market mix are coming into realization with the growing share of non-electronic products, the Department of Trade and Industry (DTI) said. According to DTI, the value of merchandise exports from January to November last year was shared almost evenly by electronics and non-electronics with […]
Read MoreMANILA, Philippines — The Department of Budget and Management has allocated about P28.8 billion for various programs to cushion the impact of the Tax Reform for Acceleration and Inclusion Act (TRAIN). In a statement, Budget Secretary Benjamin Diokno said the government has incorporated mitigating measures in the 2018 budget to offset the expected uptick in […]
Read MoreMANILA, Philippines — Income tax holidays and other perks enjoyed by large corporations cost the government over P300 billion in foregone revenue annually, according to the Department of Finance (DOF). Citing data gathered from the Tax Incentives Management and Transparency Act (TIMTA), Finance Undersecretary Karl Kendrick Chua said the government lost P301.22 billion in revenue […]
Read MoreMANILA, Philippines — The World Bank (WB) has maintained its 6.7 percent growth forecast for the Philippines until 2019, still on the back of strong fundamentals and a monetary policy supportive of growth. In its January 2018 Global Economic Prospects report, the multilateral finance institution sees the domestic economy consistently growing by 6.7 percent from […]
Read MorePhilippines will continue to outpace many of its Southeast Asian neighbors in terms of economic growth, the World Bank said as it released estimates for this year up to 2020. “The Philippines will continue to be the fastest-growing economy in the Association of Southeast Asian Nations (Asean) despite some stabilization of investment growth,” the Washington-based […]
Read MoreMANILA, Philippines — Despite some “stabilization” of investment growth, the Philippines will continue to be the fastest-growing economy in Southeast Asia, the World Bank said on Tuesday. In an update of its twice-yearly economic report, the World Bank said the Philippines’ potential growth accelerated to around 5-6 percent in 2013-17. That was more than a […]
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