Local gov’ts urged to ramp up spending
LOCAL government units (LGUs) need to set up a strong pipeline of projects and improve their implementation processes to support spending as their share in national taxes expands this year, the Department of Finance (DoF) said.
BSP has leeway to keep rates steady
THE BANGKO SENTRAL ng Pilipinas (BSP) still has room to extend its policy pause even as inflation is expected to have picked up further last month, its top official said.
Int’l retailers continue to flock to PHL
INTERNATIONAL RETAILERS continued to flock to the Philippines last year, eager to sate Filipinos’ appetite for new brands and restaurants, according to a report by the local unit of real estate services firm Cushman & Wakefield.
Weak public consumption seen to dampen economic recovery
PUBLIC CONSUMPTION — a major growth driver for the Philippine economy — likely remained sluggish in the second quarter due to the weakness in the jobs market and the strict lockdown enforced in April, First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) said in a joint report on Wednesday.
Gov’t seeks to limit power plant outages as part of performance benchmark
THE ENERGY REGULATORY COMMISSION (ERC) has asked the public to submit comments on its proposed interim benchmark for reliability of power generation units in the country, especially in terms of allowable outage days per year.
As crude surges to over $100 a barrel, DBCC closely monitoring oil prices
GOVERNMENT ECONOMIC managers are keeping a close eye on oil price hikes as Brent crude surged over $100 for the first time since 2014 on Thursday after Russia’s attack on Ukraine, offering assistance to sectors affected most by the crisis.
Sales of imported vehicles down 51% in seven months
IMPORTED vehicle sales for the first seven months of the year dropped by 50.9%, outpacing the Association of Vehicle Importers and Distributors, Inc.’s (AVID) expectation of a 40% sales slump for the full year, as the pandemic continues to dampen demand.
Investor caution greets new year
VOLATILITY that rocked the bourse in 2018 will likely persist this year, as the trade war between the world’s two biggest economies and fears of a recession in the United States continue to make investors skittish.
November debt service bill slips
THE NATIONAL Government’s (NG) debt service bill slipped by 7.7% in November due to a drop in amortization payments, according to the Bureau of...
IMF: PHL economy to grow 6% in 2023; 5.5%-6% in 2024
MANILA - The International Monetary Fund (IMF) kept its economic growth forecast for the Philippines this year at 6.0%, and projected next year's gross...
BSP likely to cut rates by May
THE Bangko Sentral ng Pilipinas (BSP) will likely reduce key interest rates by May, noting that policy makers are likely growing more confident after inflation forecasts were slashed anew on Thursday.
Infrastructure spending falls in Q1
INFRASTRUCTURE spending slumped in the first quarter, as public construction activities were temporarily halted in March due to the enhanced community quarantine (ECQ).