Faced by continuing economic doldrums and a raging pandemic, President Duterte certified as urgent the immediate enactment of Senate Bill No. 2094 amending the Public Service Act, Senate Bill No. 1156 amending the Foreign Investments Act of 1991, and Senate Bill No. 1840 amending the Retail Trade...
The Philippines, one of the largest economies in Southeast Asia, is expected to continue its poor economic performance this year due to elevated and persistent infection cases, according to the latest report of the UN Conference on Trade and Development (UNCTAD). According to the UNCTAD’s...
The chief implementer of the National Task Force on COVID-19, Secretary Carlito Galvez Jr. would rather see Filipinos 'learning to live with the virus' rather than live with total lockdown enforcements anew. Secretary Carlito Galvez Jr., chief implementer of the National Task Force (NTF) on...
Trade and Industry Ramon M. Lopez expressed optimism that the Philippine economy will go back to pre-pandemic level ahead of 2023 that President Duterte earlier projected. “It is still possible. Will do our best, through other economic reforms and programs,” Lopez said when asked if the...
Regardless of quarantine Regardless of the quarantine level that the government will decide on, businesses said they are now ready to reopen safely and are confident of achieving their growth targets for the year. In a virtual forum on “Actions and Solutions to Safely Reopen the Economy”...
The National Capital Region (NCR) – Metro Manila – and 14 other regions in the country will remain under General Community Quarantine (GCQ) for another month until February 28, the government decided last week. We had been hoping that the GCQ would be eased into Modified GCQ (MGCQ) which would...
Trade and Industry Secretary Ramon M. Lopez yesterday said the domestic economy is expected to recover to 6 percent GDP growth this year, which he premised on the easing of restrictions under a modified general community quarantine (MGCQ) status for the National Capital Region and neighboring...
The Philippines posted its worst economic performance on record last year after the coronavirus pandemic crippled consumer spending and business activity. Jeepney drivers wearing face masks queue up to receive food packs from a concerned citizen on a road in Manila on August 6, 2020. (AFP / FILE...
The World Bank expects the Philippine economy to slip deeper than initially estimated, but the level of contraction will be less severe than the Duterte administration’s projection. A motorcyclist travels along a deserted road in Bonifacio Global City, Metro Manila, the Philippines. (Geric...
E-commerce has driven significant growth in the Philippine digital economy at 55 percent, according to the latest e-Conomy SEA 2020 report. Google, Temasek and Bain & Company released the fifth edition of the e-Conomy SEA 2020 At full velocity: Resilient and racing ahead Report released today...
The Philippine economy contracted for three straight quarters as consumer spending and business activity remained depressed owing to stringent quarantines imposed on key economic hubs to contain the spread of the coronavirus infections. Shoppers wearing protective masks shop for vegetables in...
The Philippines’ manufacturing activity contracted anew in October as operating conditions across manufacturing companies worsened as the economic fallout from the coronavirus disease (COVID-19) pandemic persisted. After breaching the 50-neutral mark for the first time in seven...
