The share of tax revenues to the Philippine economy has lingered below the regional average of efficient collections, highlighting the need to further improve tax administration and enforcement. The Organization for Economic Co-operation and Development’s (OECD) Revenue Statistics in Asia and the...
The Philippine banking system’s gross non-performing loan (NPL) ratio climbed by nine basis points (bps) to 3.39 percent in April, reversing the improvement seen in March, as loan growth slowed and more borrowers fell behind on payments, according to the central bank. The latest data from the...
The Department of Finance (DOF) said the Marcos administration has been prudently managing the Philippines’ swollen debt stock, which was bloated by the ₱6.84 trillion added by the Duterte regime during the Covid-19 pandemic. In a statement released on Thursday, June 5, the DOF said the...
The Philippines ' annual economic growth is expected by the World Bank Group (WBG) to remain below six percent this year until 2031. Its newest country partnership framework (CPF) for the Philippines, covering fiscal years (FYs) 2026 to 2031, showed that the WBG forecasts Philippine gross...
The Philippine banking system’s gross non-performing loan (NPL) ratio dropped to its lowest level in three months, as robust growth in total bank lending helped offset a slower rise in soured loans. The latest data from the Bangko Sentral ng Pilipinas (BSP) showed that the banking industry’s...
While the share of the Philippine government's budget deficit and debt to the economy are going down and "stabilizing," respectively, the ASEAN+3 Macroeconomic Research Office (AMRO) is urging fiscal authorities across the region to remain prudent in spending on public goods and services as a...
The Chamber of Thrift Banks (CTB) is once again urging the Bangko Sentral ng Pilipinas (BSP) to reduce the minimum liquidity ratio (MLR) for thrift banks to 16 percent. Despite the central bank's opposition, CTB president Cecilio San Pedro said a lower MLR would provide much-needed flexibility for...
Downward interest rates and bank reserves would bolster loans to productive economic sectors in the Philippines, according to the World Bank. "Along with lower inflation, the reductions in the real interest rate and lower reserve requirements could spur demand for credit in the near term by...
The newly collected data from the completed seismic surveys of Israeli firm Ratio Petroleum and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) will enable a comprehensive assessment of the actual reserves’ potential for oil and gas at their service contracts in the...
Israeli firm Ratio Petroleum Ltd. (Ratio) will reinvigorate exploration activities at Philippine waters, as the company is already scheduled to kick off 3D seismic survey this month at its awarded petroleum block within offshore East Palawan basin. The Department of Energy (DOE) announced that the...
The news of the country's debt nearing P15 trillion is undoubtedly alarming. It raises the question of why the government continues to borrow extensively, despite its significant indebtedness. While many Filipinos tend to avoid borrowing, viewing debt as inherently negative and a sign of poor...
Finance Secretary Ralph G. Recto has dismissed worries about the country's ballooning debt stock, affirming the government's capability to meet all maturing financial obligations. Recto said that the current total government debt, which amounted to P14.51 trillion as of November last year,...
