S&P says Q2 slack a mere ‘setback’
S&P GLOBAL RATINGS has kept its 6.7% Philippine growth forecast this year despite last quarter’s slower-than-expected expansion, amid signs that the economy’s “strength” remains intact.
Economic managers to meet on economic impact of federal shift
ECONOMIC MANAGERS of President Rodrigo R. Duterte will meet this week to assess economic implications of the planned shift to a federal system of government in order to come up with a uniform position on this issue.
‘Too many’ populist moves, former state economic planner warns
A FORMER state economic planner has cautioned against populist measures that could harm the country’s fiscal health.
Subway builder eyes ferries
TO EASE traffic congestion in the country’s main financial center, there’s no way to go but underground and afloat, said businessman Antonio L. Tiu, who is leading a venture for one of two subway projects in the capital region.
Gov’t eyes pilot run for national ID system in December
AUTHORITIES will start a pilot run to register residents under the Philippine ID System (PhilSys) in December, as they look to start with households receiving cash transfers from government.
PHL to fast-track implementation of China-funded projects
THE Philippine government assured China on the speedy rollout of grant-funded projects during their meeting in Beijing this week, with the focus on two major railways in Luzon.
Moody’s flags capital outflow pressure
THE PHILIPPINES and other emerging markets are likely to see more outbound capital at a time of rising global yields and an ongoing trade dispute between the United States and China, a credit rater warned on Thursday.
GDP growth to miss goal, but not ‘bad’
PHILIPPINE economic growth will likely fall short of the government’s 7-8% target until next year, due to a sustained slowdown in exports and weak manufacturing, even as strong capital formation should help gross domestic product (GDP) expand in line with potentials, economists of the Ateneo de Manila University said in a briefing on Thursday.
Central bank sets Sept. 30 deadline for foreign borrowing plans
THE BANGKO SENTRAL ng Pilipinas (BSP) has given the government and businesses until next month to submit their offshore borrowing plans for 2019.
Spending surge boosts budget gap
THE GOVERNMENT’s fiscal deficit grew in July and in the first seven months, as spending increased faster than revenues, the Bureau of the Treasury (BTr) said on Wednesday.
Banks’ bad debts grow slightly as of end-June
BAD DEBTS held by big banks increased slightly as of end-June, even as they accounted for a smaller share of total loans amid a growing portfolio, according to latest available central bank data.
Malaysia shelving $22-B China-backed projects
BEIJING -- Malaysia will shelve three China-backed projects worth a total $22 billion until the debt-laden Southeast Asian nation can afford to pay for them, Prime Minister Mahathir Mohamad said Tuesday during a visit to Beijing.