The country posted the highest growth in the tourism sector last year despite coming from the pandemic period, data from the Philippine Statistics Authority (PSA) showed. The PSA reported that the share of tourism direct gross value added to the economy, as measured by the gross domestic product...
A plateau-like trend is forecasted for the Philippines’ gross domestic product (GDP) rate for the second quarter of 2024, attributed by higher employment and government spending, an economist from the University of Santos Tomas (UST) suggested. Carlos Manapat, UST economic department chairperson...
BAGUIO CITY —The economic growth, as measured by the gross domestic product (GDP), should grow by 6.1 percent for the next three quarters to achieve the lower end of the target, a chief economist said. Department of Finance Undersecretary Domini S. Velasquez said that the positive outlook...
The slowing economy is expected to persist for the remainder of the year, with consumers facing the challenge of rising prices, coupled with a slowdown in the growth of remittances from overseas Filipinos. Following the release of the first-quarter report, economists have observed a softening in...
Finance Secretary Ralph G. Recto said he expects the economy to grow within the target band of 5.8 percent to 6.3 percent in the first quarter of this year. These estimates were based on the high base effect from last year wherein the economy grew by 6.4 percent during the first quarter, Recto...
The National Economic and Development Authority (NEDA) said it is crucial to ease the inflation rates, particularly the rice prices, in the coming months to achieve the government's growth target. NEDA Secretary Arsenio M. Balisacan told reporters that the goal of keeping the inflation within...
Foreign investors should consider doing business in the Philippines as the government has been taking a proactive approach to improving the economy despite external risks, the National Economic and Development Authority (NEDA) said. During the Philippine Investors Dialogue in Washington D.C., NEDA...
Bukidnon is the top agricultural area in the country, data from the Philippine Statistics Authority (PSA) showed. Based on the survey of 82 provinces and 17 highly urbanized cities, it reported that Bukidnon had the highest gross value added (GVA) to agriculture, forestry, and fishing (AFF) in 2022...
Finance Secretary Ralph G. Recto said that the inflation rate would increase in March but would not exceed the three percent to four percent target band amid higher interest rates. “We're expecting that, it will be a bumpy road. Now, if that will happen then I think the interest rates will be...
The inflation rate, or growth of consumer prices, for March may be slower than the 3.4 percent readout last month, National Economic and Development Authority Secretary Arsenio M. Balisacan said Thursday, March 21 Balisacan told reporters that they are confident that inflation for this month will...
The Philippines may become a $2 trillion economy in the next decade should reforms on education, infrastructure, renewable energy, among others, are sustained, the head of the World Economic Forum (WEF) said. In a briefing on Tuesday, March 19, Børge Brende, WEF president, said that they are...
If the secession in Mindanao becomes a reality, investments in the region may be put at risk, an economist stated. Any political noise and uncertainty in policies will be taken into consideration by the investors as it would affect the profitability of their businesses, said Michael Ricafort, chief...
