August deficit balloons on pandemic subsidies
THE NATIONAL Government’s budget deficit tripled to P120.9 billion in August from a year earlier after public spending surged due to subsidies, outpacing a muted rise in revenue amid a coronavirus pandemic, according to the Treasury bureau.
BSP warns of short-term refinancing risks
The Philippine central bank warned companies to avoid an excessive reliance on short-term funding that could leave them vulnerable when refinancing debt.
“While increased risk-taking...
WB cuts PHL growth outlook to 5.4%
PHILIPPINE economic growth would probably slow to 5.4% this year, from an estimated 7.2% in 2022, amid a looming global recession, the World Bank (WB) said.
BSP unwinds relief measure for banks
BIG BANKS would no longer be allowed to use loans to micro, small and medium enterprises (MSMEs) and large companies as alternative compliance with...
IIF slashes 2021 growth forecast for Philippines
THE INSTITUTE of International Finance (IIF) slashed its growth forecast for the Philippines this year to 6.5% due to renewed lockdown measures imposed to curb a fresh wave of coronavirus cases and a slow mass vaccination program.
PHL needs to ratify RCEP, says Balisacan
THE PHILIPPINES stands to lose potential foreign investments if it fails to ratify its membership in the Regional Comprehensive Economic Partnership (RCEP), incoming Socioeconomic Planning Secretary Arsenio M. Balisacan said.
Debt service bill surges to P207B in September
THE NATIONAL GOVERNMENT’S debt service bill surged to P207 billion in September due to higher amortization payments, according to the Bureau of the Treasury (BTr).
Elevated office vacancy rates to persist — report
OFFICE VACANCY in Grade A and prime offices in Metro Manila remained high in the third quarter as companies continued to implement hybrid and...
FDI net inflows surge in January
NET INFLOWS of foreign direct investments (FDIs) into the Philippines nearly doubled in January, amid strong demand for local debt instruments, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday.
House approves 3rd stimulus package amid pandemic
CONGRESSMEN on Tuesday approved on third and final reading a third stimulus package worth more than P400 billion to help unemployed and hungry Filipinos amid a coronavirus pandemic.
IMF lowers Philippine growth forecasts for 2025 and 2026
THE PHILIPPINE ECONOMY is seen to grow below target until next year, as higher US tariffs dampened exports and investments, the International Monetary Fund...
Duterte arrest seen to ‘disturb’ PHL markets
THE ARREST of former Philippine President Rodrigo R. Duterte for crimes against humanity may “disturb” financial markets as it reflects increasing political instability in the country, analysts said.