The country's debt ratio climbed to a 17-year high in the third-quarter this year as new government loans continued to pile up, data from the Bureau of the Treasury revealed. As of September 2022, the outstanding obligations of the national government as a share of gross domestic product (GDP) hit...
The country’s economic recovery is gaining traction with the better than expected growth seen in the third-quarter, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said the 7.6 percent gross domestic product (GDP) in July to September reflected the “many good news...
The Philippine economic growth accelerated in the third quarter this year, which coincided with the first three months of the Marcos administration, despite surging consumer prices, depreciating peso and heightened uncertainty about the global economy. In a briefing on Thursday, Nov. 10,...
The economy grew better than initially estimated in the second-quarter of the year, given the strong contributions of construction, real-estate, and manufacturing sectors. The Philippine Statistics Authority (PSA) on Wednesday, Nov. 9, slightly raised upward its April to June economic growth, or...
Climate change poses a significant threat to the country’s development that would potentially result in higher economic and human costs particularly for the poor, the World Bank said. Souleymane Coulibaly, World Bank lead economist said climate shocks would negatively affect the country’s...
The World Bank raised its economic growth outlook for the Philippines despite the damage from the Typhoon Karding onslaught, which the government said would not take the country off track of its full-year goal. In the World Bank’s East Asia and Pacific October 2022 Economic Update, the...
The International Monetary Fund (IMF) has lowered its economic growth forecast for the Philippines due to unfavorable global economic condition. Cheng Hoon Lim, IMF mission head said the country’s economy, as measured by its gross domestic product (GDP), is seen to grow by 6.5 percent this year,...
House Ways and Means Committee Chairman Albay 2nd district Rep. Joey Sarte Salceda is confident that, by year end, the government will have hit its economic growth targets. This, despite the fact that the Philippine economy slowed down to 7.4 percent in the second quarter of 2022. Albay 2nd...
The Philippine economy slowed in the second-quarter amid soaring consumer prices that weakened demand from both businesses and households, the government reported on Tuesday, Aug. 9. Based on the Philippine Statistics Authority (PSA) data, the country’s economy, as measured by the gross domestic...
Asian Development Bank (ADB) expects the Philippine economy to grow at a much faster pace this year despite accelerating consumer prices. In the Asian Development Outlook 2022 Supplement report released on Thursday, July 21, the Manila-based multilateral institution raised its gross domestic...
The Asian Development Bank (ADB) expects the Philippine economy to grow at a much faster pace this year despite accelerating consumer prices. In the Asian Development Outlook 2022 Supplement report released on Thursday, July 21, the Manila-based multilateral institution raised its gross domestic...
President Marcos’ economic managers lowered the government’s growth target for this year. The Development Budget Coordination Committee (DBCC), an inter-agency body tasked to set the government’s macroeconomic assumptions, expects the country’s gross domestic product (GDP) to grow by 6.5...
