Standard Chartered Bank (StanChart) said the local economy will bounce back strongly in the second quarter this year by 15.7 percent, driven by consumption and public spending as the economy gradually reopens more in 2021. StanChart’s Philippine-focused economist, Chidu Narayanan, said Friday he...
The economic bounce-back will be anchored on the Philippines’ ability to reopen as safely as possible together with a slew of pump-priming measures buttressed by the government’s strong fiscal position, the Duterte administration’s chief economic manager said....
The investment banking arm of the Metrobank Group expects the Philippine economy will return to its positive territory this year as overseas Filipino remittances and government spending are seen to boost growth. First Metro Investment Corp. (FMIC) said it is “cautiously optimistic” for the...
Mostly from domestic market The large structural liquidity in the local financial system will let the government continue preferring the domestic market as a key source of its funding requirements in 2021 to mitigate the buildup of foreign exchange risks from external borrowings, a Cabinet official...
Slightly below programmed The Duterte administration is likely incurred slightly lower than programmed budget deficit last year due to favorable revenue performance, the Department of Finance (DOF) said. Speaking at the Management Association of the Philippines (MAP) virtual meeting, Finance...
The banking industry expressed a more subdued optimism on the country’s economic prospects as risks remain tilted to the downside due to the effects of coronavirus pandemic, a new survey by the Bangko Sentral ng Pilipinas (BSP) revealed. Based on the results of the Banking Sector Outlook...
The National Economic and Development Authority (NEDA) said the continued general community quarantine (GCQ) in Metro Manila and nearly provinces is costing billions of pesos in foregone wages every month. In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua, said that...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are reviewing the issuance of GDP-linked bonds as new instrument to mobilize banks’ liquidity. Diokno said GDP-linked bonds could be used to expand or rearrange the distribution of liquidity circulating in the banking system...
The Department of Finance (DOF) said the Philippines needs to maintain its good economic fundamentals to allow the nation to recover promptly as the pandemic-induced lockdowns continued to ease. Finance Undersecretary Gil S. Beltran said this means the government should maintain the budget...
Michael Gerard “Mike” Enriquez Sun Life Philippines expects the Philippine economy to undergo a “U-shaped,” a longer type of recovery and a return to trend line growth in the next two years. Michael Gerard D. Enriquez, Sun Life chief investments officer, said the country’s economy,...
The Philippine Chamber of Commerce and Industry (PCCI), the country’s voice of business and mainly comprised of micro, small and medium enterprises (MSMEs), expects deeper GDP cuts of as much as negative 10 percent this year and 2-4 percent only in GDP growth in 2021, way below the GDP...
The Bangko Sentral ng Pilipinas (BSP) has revised anew its external account projections for this year and in 2021, it now sees a higher balance of payments (BOP) surplus of $12.8 billion on account of weak import demand since the economy is not yet fully opened due to the pandemic. The BOP surplus...
