Finance Secretary Ralph G. Recto said that the inflation rate may move at a much faster pace in July, while the impact of Typhoon Carina on the prices of goods is expected to be felt in the following months. “I think, coming from a low base, the inflation will be higher, but still within target...
The Department of Finance (DOF) said that the remittance of P89.9 billion in unused funds from the Philippine Health Insurance Corp. (PhilHealth) is projected to boost economic growth by 0.8 percentage points. Finance Secretary Ralph G. Recto said at the Post-State of the Nation Address...
The country’s socioeconomic planning agency remains positive that the Philippines will become an upper middle-income economy by next year. National Economic and Development Authority Arsenio M. Balisacan said that the country remains on track to achieving an upper middle-income status in 2025...
Achieving an eight percent gross domestic product (GDP) growth in the Philippines is doable, President Marcos said. President Ferdinand 'Bongbong' Marcos Jr. (Ali Vicoy) Marcos said it could be attained, stressing that the Philippine government "always plans for the ideal." "Sure. Why not?" Marcos...
Amid accelerating inflation and subdued global markets, National Economic and Development Authority Secretary Arsenio M. Balisacan expressed openness to revising this year's economic growth target downward. Balisacan said that the Development Budget Coordination Committee (DBCC), an inter-agency...
An economist stated that aside from the economic restrictions imposed by the Constitution, issues in education and infrastructure also deter foreign investors from entering the country. Bank of the Philippine Islands Lead Economist Emilio Neri, during a webinar at the Philippine Institute for...
The Philippine Statistics Authority (PSA) said the economy posted a slight improvement in the third quarter of last year than earlier reported, following revisions related to manufacturing, financial insurance, and service activities. The PSA said the expansion of the manufacturing industry...
Despite the country's economic improvement, the number of poor people did not decrease, as only those with higher incomes benefited from the gains, a study by the Philippine Institute for Development Studies (PIDS) revealed. Based on a PIDS discussion paper titled “Poverty Transitions and the...
The country’s economy is expected to reach six percent this year with the help of robust private consumption and government infrastructure spending, the Metrobank Group’s investment arm First Metro Investment Corp. said. In a breifing, First Metro President Jose Patricio Dumlao said that the...
Senator Ramon “Bong” Revilla, Jr. lauded President Marcos and his economic team on the country's Gross Domestic Product (GDP) growth for the third quarter of this year. This, after the Philippine Statistics Authority (PSA) reported a 5.9 percent year-on-year growth in the third...
Anchoring it on average gross domestic product (GDP) growth rate of 6.0 to 8.0-percent, the Department of Energy (DOE) had cast an industrialization pace for the country as articulated in the updated Philippine Energy Plan (PEP) stretching through year 2050. “Consistent with the industrialization...
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan expects that speeding up government spending during the second half of the year could improve the country’s growth rate by the end of 2023. NEDA Secretary Arsenio Balisacan (Photo from the Presidential Communications...
