House clears 2019 budget hurdle
THE LEGISLATIVE DEADLOCK over the P3.757-trillion national budget for 2019 appears finally headed for resolution, with the House of Representatives “physically retrieving” on Wednesday the copy it transmitted to the Senate on March 11.
Growth seen hinging largely on domestic demand
THE PHILIPPINES will have to rely on domestic activity to boost growth at a time of a global economic slowdown, but a foreign consultancy flagged that the current deadlock on 2019’s national budget will likely weigh on the country’s economic prospects.
Bad debts outpace total bank loans’ rise
SOURED DEBTS held by Philippine banks rose in 2018 to outpace the growth in total loans at a time of higher interest rates and rising commodity prices.
Regulator mulls Manila Water penalties
THE METROPOLITAN WATERWORKS and Sewerage System (MWSS) said on Tuesday it was studying the prompt imposition of penalties against the Manila Water Company, Inc. for current service disruptions, marking a shift from its statement the day before that penalties will have to be incorporated in rate rebasing done every five years.
Feb. marks fourth straight month of BoP surplus — BSP
THE COUNTRY’s external position remained in surplus in February to mark the fourth straight month of net dollar inflows, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.
Moody’s: PHL among least affected by Sino-US trade row
THE PHILIPPINES is among the economies least affected by simmering trade tensions between the United States and China, Moody’s Investors Service said in a March 19 note, citing its relatively low exports to Beijing compared to those of other Asian economies.
Fiscal data bear imprint of budget delay
THE GOVERNMENT posted its first fiscal surplus in nine months in January, according to latest official data the Bureau of the Treasury released on Monday, with a drop in state spending blamed on delayed enactment of 2019’s P3.757-trillion national budget.
House moves to resolve budget row
MONDAY saw possible resolution of the deadlock between the two chambers of Congress over the P3.757-trillion national budget for 2019, after a member of the House of Representatives (HoR) tasked to deal with the Senate on this matter said the House would recall its copy of the spending plan which senators claimed contained adjustments made after the spending plan was ratified.
Groups set to check Wawa dam viability
THE AYALA and the Razon groups are set to sign within the week an initial agreement to look into the viability of jointly developing the Wawa dam in Rizal as part of Manila Water Company, Inc.’s new water sources.
BSP expected to maintain policy for now
THE BANGKO SENTRAL ng Pilipinas (BSP) is widely expected to keep monetary policy settings steady on Thursday, according to comments from economists late last week, in which three said they see a reduction in benchmark interest rates while five projected a cut in banks’ required reserves in the months ahead.
Deep wells tapped to add 100 MLD for Metro Manila
THE National Water Resources Board (NWRB), the state agency tasked to oversee the country’s water resources, has approved the activation of deep wells that will add 100 million liters per day (MLD) to ease the shortage being felt by consumers in Metro Manila’s east zone.
Energy dep’t issues draft rules for duty-free importation of renewable energy equipment
THE DEPARTMENT of Energy (DoE) has issued a draft circular to regulate the duty-free importation of renewable energy (RE) machinery, equipment, materials and spare parts in line with the government’s drive to promote ease doing business in the country.