Department of Finance (DOF) Secretary Ralph Recto on Tuesday, Oct. 14, said corruption in government infrastructure programs, particularly flood control projects, has hampered the country’s economic growth and affected the government’s ability to meet its revenue targets. During the Senate...
Due to the pessimistic outlook from businesses related to flood control concerns, the Bangko Sentral ng Pilipinas (BSP) has lowered its growth projection for next year to 5.3 percent, which is below the reduced target of six to seven percent. BSP Governor Eli M. Remolona Jr. revealed in a One News...
The Philippine Statistics Authority said the economic growth rate of Iloilo City and Iloilo province declined in 2024. The economic growth rate of Iloilo City, the regional capital of Western Visayas, dropped to 7.1 percent last year from 10.4 percent in 2023. Iloilo’s economic growth rate in...
CEBU CITY – The province of Bohol continues to build on its growing economic strength as it recorded an 8.8 percent increase in Gross Domestic Product (GDP) for 2024. The significant increase placed Bohol sixth among 115 economies composed of 82 provinces and 33 highly urbanized cities across the...
Citing weaker-than-expected economic growth in the first semester of 2025, the International Monetary Fund (IMF) has lowered its 2025 and 2026 gross domestic product (GDP) forecasts, with next year’s outlook seen to fall short of the downscaled growth goal. IMF Mission Chief Elif Arbatli...
Pervasive corruption in the Philippines is preventing the country from realizing its full economic potential, despite President Ferdinand R. Marcos Jr. making “steady progress” on his reform agenda, according to the think tank Capital Economics. In its Asia Economic Outlook report for the...
While government debt continued to pile up, private businesses and individuals in the Philippines held back on borrowings amid conditions not too conducive to debt accumulation. The latest data from the Washington-based Institute of International Finance (IIF), released on Thursday, Sept. 25,...
Two global banking giants have flagged political and fiscal challenges posing near-term risks to the Philippine economy, especially in the aftermath of a corruption scandal involving massive public spending on ineffective flood control projects in recent years. While “there is a strong pipeline...
Singapore-based United Overseas Bank (UOB) expects lower interest rates to lift Philippine economic growth in the near term, despite lingering global challenges that would likely expand the domestic economy below the government’s goal for the year. In its Quarterly Global Outlook report for the...
The Department of Education (DepEd) on Tuesday, September 2, welcomed President Marcos’ historic allocation of P1.224 trillion to the education sector under the proposed 2026 national budget—marking the first time the Philippines has met the UNESCO-recommended benchmark of spending four percent...
Investment banking giant Goldman Sachs expects the Bangko Sentral ng Pilipinas (BSP) to cut key interest rates by 25 basis points (bps) on Thursday, Aug. 28, amid low domestic inflation and slower economic growth. In an Aug. 22 report obtained by Manila Bulletin, Goldman Sachs Economics Research...
Germany-based Deutsche Bank said a quarter-point rate cut on Thursday would help support Philippine economic activity, following the Bangko Sentral ng Pilipinas’ (BSP) revised forecast that the negative output gap will persist until 2027. “We see the BSP lowering its policy rate by 25 bps...
