IMF sees need for further tightening

THE BANGKO SENTRAL ng Pilipinas (BSP) should continue tightening monetary policy until 2023 to anchor inflation expectations and support the peso, an International Monetary Fund (IMF) official said.

PHL likely to achieve growth targets

THE PHILIPPINE ECONOMY will likely hit its growth target this year and in 2023 amid global headwinds, Finance Secretary Benjamin E. Diokno said on Tuesday.

Gov’t urged to focus on measures to boost agricultural production

THE PHILIPPINES should focus on measures to boost agricultural productivity and adopt a less protectionist stance to ensure food security and support economic recovery from the pandemic, according to experts.

S&P sees slower PHL growth in 2023

S&P GLOBAL RATINGS revised its Philippine economic growth forecast upwards to 7.1% this year, but sees slower growth in 2023 due to the impact of higher interest rates and elevated inflation.

BSP to keep capital requirement for rural banks unchanged

THE BANGKO SENTRAL ng Pilipinas (BSP) will not raise the minimum capital requirements for rural banks in the next three to five years while the Rural Bank Strengthening Program (RBSP) is being implemented.

Wholesale prices rise 8.2% in September

WHOLESALE PRICES of general goods picked up in September, reflecting possible second-round effects from inflation, and the peso depreciation against the US dollar.

ILO: Philippines has potential to boost jobs in manufacturing sector

THE PHILIPPINES has the potential to increase jobs in the manufacturing sector as the economy recovers from the coronavirus pandemic, the International Labour Organization (ILO) said on Monday.

Marcos ‘hopes’ CA will reconsider TRO on SMC-Meralco deal

PRESIDENT Ferdinand R. Marcos, Jr. is hoping the Court of Appeals (CA) will reconsider its decision temporarily suspending the implementation of an SMC Global Power Holdings Corp. subsidiary’s power supply agreement (PSA) with Manila Electric Co. (Meralco), warning this may result in higher electricity rates.

Debt-to-GDP ratio seen to drop to 50% by 2028

THE PHILIPPINES’ debt-to-gross domestic product (GDP) ratio is expected to drop to around 50% by 2028 if it sustains its strong economic growth, Finance Secretary Benjamin E. Diokno said.

GOCC subsidies surge in October

SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) surged to P39.981 billion in October, the Bureau of the Treasury (BTr) said.

Budget deficit widens to P99B in October

By Luisa Maria Jacinta C. Jocson, Reporter The National Government’s budget deficit ballooned to P99.1 billion in October, as state spending outpaced revenue collections, the...

Marcos to slash tariffs on EVs, parts

THE NATIONAL Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos, Jr., has approved an executive order (EO) that will slash tariffs on some electric vehicles (EVs), as well as guidelines for public-private partnership projects (PPPs) and a new P11.42-billion fisheries and coastal resiliency project.
BusinessWorld Online