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.
‘Hot money’ swings to inflow in October
MORE SHORT-TERM foreign capital entered than left the Philippines in October, after five straight months of outflows, Bangko Sentral ng Pilipinas (BSP) data showed on Thursday.
Gov’t to borrow P135B from domestic market in Dec.
THE GOVERNMENT plans to borrow P135 billion from the domestic market in December, the Bureau of the Treasury (BTr) said.
Prices of building materials jump in October
WHOLESALE and retail prices of construction materials continued to rise in the National Capital Region (NCR) in October, as economic activity picked up.
Senate approves 2023 budget bill
THE PHILIPPINE SENATE on Wednesday realigned more than P170 million worth of agencies’ intelligence funds as it unanimously approved on final reading its version of the proposed P5.268-trillion budget for next year.
Human capital damage from coronavirus could worsen poverty — WB
THE CORONAVIRUS PANDEMIC is expected to cause long-term scarring of human capital development in the Philippines, which could lead to more Filipinos becoming poor, the World Bank (WB) said in a report on Wednesday.
Philippine government told to cut red tape in housing development
THE PHILIPPINE government should shorten the application process for housing development projects for ease of doing business, according to a stakeholder.
No more jumbo rate hikes — Medalla
THE BANGKO SENTRAL ng Pilipinas (BSP) is ruling out another jumbo rate hike as it expects the US Federal Reserve to slow the pace of tightening in December.