Fiscal deficit seen to fall below target this year
THE Philippines is expected to realize a fiscal deficit of 2.9% of gross domestic product (GDP) this year — slightly below the government’s 3% target — due to the sharp uptick in infrastructure spending, according to HSBC Global Research.
DoF: Tax reforms face political resistance
THE DEPARTMENT of Finance (DoF) expects rough sailing in Congress for remaining tax reforms as lawmakers increasingly focus on preparations for the May 2019 mid-term elections.
SEC releases draft rules on initial coin offerings
THE SECURITIES and Exchange Commission (SEC) has issued draft guidelines for the conduct of initial coin offerings (ICOs), in a bid to keep up with the number of start-ups using this scheme to raise funds from the public.
Customs bullish on 2018 target
COLLECTIONS of the Bureau of Customs (BoC) continued to rise and beat targets on the back of a weaker local currency and high world oil prices, according to preliminary data.
Banks increase real property exposure as of March, but growth slows
BANKS handed out more real estate loans as of March, although growth eased from a year ago as the central bank tightened its watch on the sector.
Manufacturing growth weakens in July
PHILIPPINE manufacturing activity grew at a slower pace as the second semester began -- marking the weakest reading in five months -- amid softer demand, according to the latest survey IHS Markit conducted for Nikkei, Inc.
Infrastructure, other state capital outlays top first-half target
GOVERNMENT infrastructure spending and other capital outlays breached the first-half program, the Budget department reported on Wednesday.
Moody’s says fresh rate hike should help temper ‘imported’ inflation
ADDITIONAL rate hikes from the central bank will temper exchange rate movements and outbound capital flows, Moody’s Investors Service said, against a backdrop of a resilient and fast-growing economy.
BSP sees July inflation still past 5%
PRICES of widely used goods likely sustained their overall increase past an official full-year target in July, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday.
Increase in money supply slows
MONEY SUPPLY continued to grow in June — although at a slower pace — amid a tempered increase in bank lending, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.
Economic managers say rising revenues to help keep budget gap manageable
THE DEVELOPMENT Budget Coordination Committee (DBCC) said on Tuesday that government revenues are “strong” enough to help finance a bigger deficit next year, supported by bigger collections as a result of ongoing tax reform.
Economic execs assure on budget gap
ECONOMIC MANAGERS are committed to keeping the government’s budget deficit manageable despite a Supreme Court (SC) ruling in favor of more state allocations to local governments, saying above-target revenue collections will help while they appeal the decision.