IMF: PHL growth faster, but jobless rate to rise
WHILE the Philippine economy is expected to post faster growth this year, the jobless rate is also expected to increase in 2024 and 2025, according to the International Monetary Fund (IMF).
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WHILE the Philippine economy is expected to post faster growth this year, the jobless rate is also expected to increase in 2024 and 2025, according to the International Monetary Fund (IMF).
ALTHOUGH it wreaks havoc on the Philippine environment, the country’s sachet economy is one major factor that provides resilience to the sari-sari (variety) stores.
FUND traders from Sun Life Investment Management and Trust Corp. (SLIMTC) see a “stronger” Philippine economy as inflation has decelerated.
ACCORDING to the Asian Development Bank, the Philippine economy is expected to pick up in 2024. The forecast for the 2024 gross domestic product (GDP) is maintained at 6.2 percent with household consumption and public spending on infrastructure and social services contributing to the country’s economic expansion.
THE Philippine economy is expected to do better this year on the back of slower inflation that may spur private consumption and investments, according to Moody’s Analytics.
THE Philippines could accelerate its economic growth by sustaining improvements in investment growth, educational outcomes, life expectancy and female labor force participation in the next 10 years, according to the World Bank (WB).
IT was a night of stars, in the financial community that is, as they attended the Annual Bankers’ Reception tendered by the Bangko Sentral ng Pilipinas (BSP) on Friday, January 26, at the Fort San Antonio Abad. It was an especially meaningful night as it commemorated the 75th year of the institution, which has overseen the many changes in the country’s history and dealt with the impact of global economic policies. Through it all, the central bank has always provided the strong fortification to protect the economy and defend it from both internal financial difficulties and external shocks.
THE Bureau of Customs (BOC) exceeded its target in October and in the 10-month period on the back of its efforts to curb smuggling.
FILIPINO consumers waiting for interest rates to decline are in for a disappointment as the Bangko Sentral ng Pilipinas (BSP) intends to raise interest rates anew in its next meeting and maintain this rate until the end of the first semester of next year.
THE Bank of Commerce (BankCom) announced having nearly doubled its income in the first six months of the year.
IN President Ferdinand Romualdez Marcos’ State of the Nation Address (SONA) on July 24, 2023, he asserted (to enthusiastic applause) that: “While the global prospects were bleak, our economy posted a 7.6 percent growth in 2022—our highest growth rate in 46 years. For the first quarter of this year, our growth has registered at 6.4 percent. It remains within our target of 6 percent to 7 percent for 2023. We are still considered to be among the fastest-growing economies in the Asian region and in the world. It is a testament to our strong macroeconomic fundamentals.”
Days before President Ferdinand R. Marcos Jr. delivers his performance report, the leadership of the House of Representatives on Friday said the surge in investment pledges in the first quarter of the year is a clear “vote of confidence” in the Philippine economy’s potential and validates the soundness of government policies.
THE new Bangko Sentral ng Pilipinas (BSP) governor is as Filipino as they come from his use of the mother tongue to making basketball references in his first official speech at the central bank.
Back in the days before the Internet, and before there were countless social media economic experts as well as the genuine kind, I used to regularly monitor the health and wealth of the Philippine economy at the Tejeros Market on Pasong Tirad, Makati.
THE Philippine economy stands to gain as much as P5.7 billion annually if the government would implement a value-added tax (VAT) refund scheme for foreign tourists, according to the National Economic and Development Authority (Neda).
THE national government started its June domestic borrowing program on a high note as the Bureau of the Treasury (BTr) successfully raised the full P25 billion programmed amount from the sale of Treasury bonds (T-bonds).
HOUSEHOLD consumption as well as infrastructure projects are expected to boost economic growth this year to 6 percent, according to First Metro Investment Corporation-University of Asia & the Pacific Capital Markets Research.
The Philippine economy has a “big chance” of escaping a recession next year, thanks to strong domestic consumption, but growth remains fragile as threats remain, according to a local economist.
THE Department of Trade and Industry (DTI) said it wishes to pursue a Free Trade Agreement (FTA) with the United States, which it said would be a more binding mechanism to secure market access preferences.
THE Department of Finance (DOF) said the national government debt this year would have hit P15.4 trillion—higher by P2.2 trillion—had the Duterte administration given in to lawmakers’ proposed Covid-19 stimulus bills and other “revenue-eroding” measures, sparking an angry retort from a Congress leader.
THE government’s economic team decided to forgo its 6- to 7-percent growth target for the Philippine economy this year following the reimposition of lockdowns to curb the spread of the more contagious Covid-19 Delta variant.
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