THE WORLD BANK (WB) upgraded its growth forecast for the Philippines for this year and 2023, citing an “accommodative” fiscal policy conducive to recovering domestic demand despite a hawkish central bank and a pessimistic global economic outlook.

PHILIPPINE EMPLOYERS will probably increase their budget for pay increases next year amid a tight labor market and rising prices, according to Willis Towers Watson (WTW).

The Philippines improved four places to rank 81st out of 169 countries and scored 67.46 out of 100 in the latest edition of the annual Social Progress Index by American nonprofit organization Social Progress Imperative.

This infographic compares the current daily minimum wages set by the country’s Regional Tripartite Wages and Productivity Board and the inflation-adjusted minimum wages as of August based on latest preliminary data from the Philippine Statistics Authority (PSA).

The Philippines improved two spots to place 67th out of 113 countries in the latest iteration of the Global Food Security Index (GFSI) developed by UK-based Economist Impact with support from US-based Corteva Agriscience.

The Philippines slipped a notch to place 83rd out of 129 countries in the latest International Property Rights Index (IPRI), produced annually by Washington, D.C.-based think tank Property Rights Alliance.

THE PHILIPPINES’ balance of payments (BoP) position remained in a deficit for a fifth straight month in August, mainly due to the National Government’s foreign debt payments, the central bank said on Monday.

The Philippines’ total debt amounted to $429.7 billion in the second quarter of the year, about 2.5% lower than $440.8 billion a year ago, latest data from the Global Debt Monitor report of the Institute of International Finance showed.

THE BANGKO SENTRAL ng Pilipinas (BSP) is likely to continue its rate hike cycle on Thursday, with several analysts forecasting a 50-basis-point (bp) increase as the US Federal Reserve is also expected to further tighten policy this week.

CASH REMITTANCES jumped to the highest in seven months in July, as overseas Filipino workers (OFW) likely took advantage of the weaker peso to send their families more money amid elevated inflation.

THE Philippines’ ranking in index measuring digital wellbeing went down seven places amid lower scores in Internet connection affordability, quality, and stability, as well as cybersecurity.