Majority (80%) of Filipinos expect their income to increase this year despite a higher number of individuals convinced that the domestic economy would go into recession. Global information and insights company and the Philippines’ first comprehensive private credit reference agency, TransUnion...
The year 2023 has been acknowledged by the International Monetary Fund as a year of global economic recession that would hit one-third of the world’s economy. The economic difficulties have been brought about by Russia’s war in Ukraine, causing oil prices to rise to historic levels, disrupting...
ANKARA (Anadolu) – One-third of the world's economies are expected to go into recession this year, according to the IMF's managing director. "Even countries that are not in recession, it would feel like recession for hundreds of millions of people," Kristalina Georgieva told CBS news on...
As the world teeters on the brink of another recession, the Department of Finance (DOF) assured that the Philippine would weather the looming sharp contraction in global economic output next year. Finance Secretary Benjamin E. Diokno said the Philippines has the adequate buffers against external...
President Ferdinand "Bongbong" Marcos Jr. is confident that the Philippines will not fall into an economic recession amid the soaring inflation. President Ferdinand 'Bongbong' Marcos Jr. (Malacañang Photo) "Malakas ang loob natin hindi tayo magkakaroon ng recession dito sa Pilipinas dahil...
MOSCOW, Russia -- Russia has entered a recession, nine months after launching its offensive in Ukraine as Western sanctions weigh on the economy, according to official data published on Wednesday. Gross domestic product shrank four percent in the third quarter, according to a preliminary estimate...
Consumers are up for another week of relief on their fuel budgets, as oil firms will reduce prices of gasoline products by P5.00 per liter, and diesel by P2.00 per liter effective Tuesday, July 19. The oil companies similarly advised on a price reduction of P0.70 per liter for kerosene products,...
Domestic pump prices will have another round of significant rollback next week as global oil prices tumbled below $100 per barrel. Based on the calculation of the oil companies, the price of 92RON gasoline products will be cut by P5.30 to P5.50 per liter while RON95 gasoline will be trimmed by...
Consumers’ pockets can finally gain substantial relief next week, as petroleum products at the pumps will be on massive rollback, according to the oil companies. Based on the industry’s calculations as anchored on the Mean of Platts Singapore (MOPS), diesel prices will be reduced by as much as...
The government is determined to accelerate the vaccination of Filipinos and sustain economic recovery programs after the pandemic-hit country roared out of recession. Presidential Communications Secretary Martin Andanar (File photo/PCOO/Twitter) Presidential Communications Secretary Martin Andanar...
The country’s economy shrank in the first three months of the year, marking its fifth straight quarter of recession triggered by a prolonged pandemic. According to the Philippine Statistics Authority (PSA), gross domestic product (GDP) contracted by 4.2 percent in January to March, worse than the...
The country’s economy performed worse than initially estimated last year. The Philippine Statistics Authority (PSA) revised on Thursday, April 8, its gross domestic product (GDP) figure for last year from minus 9.5 percent to minus 9.6 percent. The PSA, however, maintained the growth rate of...
