Most renewable energy plants continue to operate during lockdown
RENEWABLE energy power plants are still running with no impact from the disruptions caused by the coronavirus disease 2019 (COVID-19) emergency, the industry’s regulator said.
Exporters urged to explore online channels following trade show cancellations
THE Department of Trade and Industry’s (DTI) export promotion arm is encouraging exporters to explore online platforms after trade shows were canceled in response to the coronavirus disease 2019 (COVID-19) crisis.
Palay farmgate prices ‘normalizing,’ rise above gov’t support price
THE farmgate price of palay, or unmilled rice, rose in several regions during the dry season to levels exceeding the government’s P19 per kilogram support price.
GOCCs remit nearly P130 billion to help bolster gov’t funds
STATE-OWNED firms have remitted P129.45 billion worth of dividends to the national government to increase the government’s war chest for containing the coronavirus disease 2019 (COVID-19) outbreak, the Department of Finance (DoF) said.
Fitch Solutions slashes PHL consumer spending growth outlook
FITCH Solutions Macro Research said it downgraded its 2020 household spending growth outlook for the Philippines to 3.4% from 5.8% previously before the coronavirus disease 2019 (COVID-19) outbreak.
DoE asks ethanol producers to produce more ethyl alcohol
THE Department of Energy (DoE) has asked ethanol producers to help raise the supply of ethyl alcohol, stocks of which are currently running low after a spike in demand for disinfecting materials during the coronavirus disease 2019 (COVID-19) outbreak.
Stimulus spending seen producing 6.5% deficit
PROPOSED spending measures laid out in the stimulus bill currently in Congress will increase the budget deficit as a proportion of Gross Domestic Product (GDP) to about 6.5%, more than double the level considered prudent, a former socioeconomic planning secretary said.
Declining inflation provides room for further easing — Diokno
THE DOWNTREND in inflation will give the central bank room for further monetary easing to support to the economy during the pandemic emergency, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.
Fitch Solutions cuts 2020 PHL growth outlook to 0.5%, contraction possible if Q1 weak
FITCH SOLUTIONS Country Risk and Industry Research reduced its economic growth forecast for the Philippines to 0.5% in 2020 due to the impact of the lockdown, and warned that a full-year contraction is possible if first-quarter gross domestic product (GDP) comes in lower than expected.
Remittance, BPO revenue declines seen widening current account deficit
THE current account (CA) deficit could widen due to declining overseas worker remittances and business process outsourcing (BPO) revenue, according to Mitsubishi UFJ Group (MUFG) Global Research.
LANDBANK distributes over P308-M subsidy to rice farmers
THE Land Bank of the Philippines (LANDBANK) has distributed over P308 million to farmer beneficiaries eligible for the Department of Agriculture’s (DA) financial subsidy for rice farmers.
On relief packs and tax relief
By Glenda Jay Gee T. Calagui
Establishments have been looking forward to the lifting of the enhanced community quarantine (ECQ), especially as most economic activity ground to a halt after March 16. For more than six weeks, the COVID-19 pandemic and the resulting ECQ have crippled some businesses and the economy. The most vulnerable have been reduced to relying on emergency relief goods after being denied the opportunity to work. The government’s revenue-collecting agencies have missed their targets for the first quarter of this year, mainly due to the lockdown, which runs until May 15.