PHL GDP seen contracting 1.8% under no-second-wave scenario
Moody's Analytics said it expects the Philippine economy to contract 1.8% in 2020, assuming no coronavirus second wave late in the year.
"n our judgment...
NEDA sees poverty-reduction goal still attainable despite pandemic
The government remains on track to hit its target poverty rate of 11% by 2022 despite “temporary” setbacks in poverty-reduction efforts due to the...
PHL recovery seen lagging region due to high new-infection levels
THE Philippine economic recovery is expected to lag the region due to its poor performance in containing the coronavirus outbreak, Oxford Economics said.
In...
Auto sales plunge 66% in March after dealerships shut down
The automobile industry said auto sales by volume fell 66% year-on-year in March after the Luzon lockdown shuttered car dealerships over the second half...
LGUs, pop-up/mobile markets distribute P5.8 billion worth of produce
LOCAL government units (LGUs), farmers' cooperatives and associations, and community leaders bought P5.8 billion worth of farm and fishery products that were included in...
NEA loans to rural utilities hit P293-M in first 5 months
The National Electrification Administration (NEA) said it released around P293 million worth of loans to utilities operating in the countryside during the first five...
House approves P1.3-trillion stimulus bill on 3rd reading
THE House of Representatives on Thursday approved on third and final reading a P1.3-trillion stimulus package called the ARISE (Accelerated Recovery and Investments Stimulus for the Economy) bill, the new name for what had been known as the proposed Philippine Economic Stimulus Act (PESA).
PHL, World Bank sign $500-M loan agreement
THE government on Wednesday signed a $500-million loan agreement with the World Bank, the proceeds of which will fund the coronavirus containment efforts and aid small-business workers and the vulnerable population.
20-year extension sought for power subsidy for poor
A MEASURE extending for 20 years the lifeline rate subsidy granted to low-income households has been filed in the Senate.
More hotels allowed to reopen but guests limited
THE Inter-Agency Task Force on the Management of Emerging Infectious Diseases (IATF-EID) expanded its definition of hotels allowed to resume operations but continued to limit their clientele to precious bookings, stranded persons, overseas workers observing quarantine, and health care workers.
Remittance decline due to COVID-19 seen much worse than in 2007-09 financial crisis
THE decline in remittances to developing countries will be much worse than the 5% drop recorded in the wake of the 2007-2009 global financial crisis, the Institute of International Finance (IIF) said.
Agri dep’t offers farmers incentives to consolidate
THE Department of Agriculture (DA) said it will structure its incentive and assistance programs to favor farms that consolidate in order to increase the harvest and lower costs.