World Bank GDP growth forecasts for select East Asia and Pacific economies

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 companies seen to hike 2023 salaries by 5.7%

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).

Philippines improves in Social Progress Index ranking

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.

How minimum wages compared across regions in August

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).

Philippines improves in food security rankings

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.

Philippines drops in property rights list

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.

Philippines: Balance of payments

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.

Philippines’ total debt slows in Q2 2022

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.

Analysts’ expectations on policy rates (Sept. 2022)

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.

Overseas Filipinos’ cash remittances (July 2022)

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.

Philippines falls in ‘digital quality of life’ index

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.
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