Banking giant UBS AG has raised its 2024 to 2025 gross domestic product (GDP) growth forecasts for the Philippines to 5.7 percent and six percent from 5.3 percent and 5.8 percent, respectively, following the stronger-than-expected 5.6 percent expansion last year. According to UBS Investment Bank...
The country’s economic growth fell short of the government's target last year, largely due to higher consumer prices that discouraged spending, data from the Philippine Statistics Authority (PSA) showed. The economy, as measured by the gross domestic product (GDP), expanded by 5.6 percent from...
Ahead of the release of the country's full-year growth figures, the National Economic and Development Authority (NEDA) announced that the economy had performed well in 2023, despite the significant challenges it encountered. NEDA Secretary Arsenio M. Balisacan said the local economy, as measured by...
The Department of Finance (DOF) said the Philippine economy is prepared to withstand any potential negative impacts of this year's El Niño phenomenon. In a statement, the DOF said that the national government's 2024 gross domestic product (GDP) target of 6.5 percent to 7.5 percent has...
The Development Budget Coordination Committee (DBCC) has maintained the government's economic growth target for the year and has marginally adjusted its forecast for next year. The DBCC, an inter-agency body tasked with determining the government’s macroeconomic assumptions, kept its gross...
President Marcos’ chief economic manager has expressed “full confidence” that the Philippine economy remains firmly on the path to recovery and progress despite growing below target. Finance Secretary Benjamin E. Diokno said the country’s first three-quarter gross domestic product (GDP)...
More government spending seen in the third quarter will help pick up the six percent to seven target economic growth by year-end, Department of Finance Secretary Benjamin E. Diokno said. During a forum with Reuters, Diokno pointed out several indicators that will help boost economic growth by...
Finance Secretary Benjamin E. Diokno, the government’s chief economic manager, expects the Philippine economy to grow by close to six percent this year. The Philippine Statistics Authority reported on Thursday a better-than-expected gross domestic product (GDP) growth of 5.9 percent in the third...
House Speaker Martin Romualdez (Speaker’s office) House Speaker Martin Romualdez believes that the country’s minimum gross domestic product (GDP) growth target of 6 percent for the year 2023 is still achievable. This, after the Philippines posted a...
The Department of Budget and Management (DBM) reported that higher public spending from July to September this year greatly contributed to a stronger-than-expected economic growth. Budget Secretary Amenah F. Pangandaman said the accelerated government spending in the third quarter contributed 36...
Albay 2nd district Rep. Joey Salceda (Facebook) The administration of President Marcos has regained a position of strength, economist-congressman Joey Salceda of Albay's 2nd district said Thursday, Nov. 9. Salceda gave this assessment in light of the...
The country’s economy surged in the third-quarter on the back of higher consumer spending, the Philippine Statistics Authority (PSA) reported on Thursday, Nov. 9. The economy, as measured by the gross domestic product (GDP), grew by 5.9 percent in July to September this year, stronger compared to...
