Senatorial aspirant and incumbent Sorsogon Governor Francis “Chiz” Escudero on Sunday urged the national government to set a higher target for job creation through its “Build, Build, Build” program. Escudero pointed out the government’s infrastructure program has received a massive...
The United Nations (UN) warned on Thursday, Jan. 13, that the economic recovery seen in 2021 would slow down in 2022 and in 2023. According to the UN’s World Economic Situation and Prospects 2022, the global economy, which saw a 5.5 percent expansion in 2021, is projected to expand by only 4.0...
The Department of Finance (DOF) said the government will finalize within this month the Strategic Investment Priority Plan (SIPP) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, Finance Secretary Carlos G. Dominguez III said on Wednesday, Jan. 12, that the...
The Department of Finance (DOF) said Filipinos need to learn to live with COVID-19 despite the fear of it, but at the same time the country should remain vigilant as the coronavirus’ mutations continue to occur. As current surge accelerates way faster than the previous wave of infections, Finance...
President Rodrigo Duterte’s economic managers said the imposition of stricter quarantine status over Metro Manila and nearby provinces is a necessary setback in the country’s recovery in the wake of the highly transmissible COVID-19 Omicron variant. The inter-agency Development Budget...
Despite a budget deficit breaching the P1 trillion mark, the national government’s revenue collections remained strong last year, an indication that the country is poised to achieve a robust economic recovery, a ranking finance official said. Finance Undersecretary Gil S. Beltran said there were...
The National Economic and Development Authority (NEDA) said the Omicron variant will not slam the Philippines' growth prospects for the year, saying the fresh blow of tighter quarantine controls is only temporarily. Two years into the COVID-19 pandemic, Socioeconomic Planning Secretary Karl...
President Duterte has committed an additional P10 billion to assist the provinces that felt the wrath of typhoon "Odette" over the weekend. President Rodrigo Duterte (center) presides over a meeting with local officials of Negros Occidental, uniformed personnel, and officials from the national and...
The Philippine economy on its way to recover lost ground, but should remain alert and not let its guard down as Omicron variant poses a threat to public health, the Department of Finance (DOF) said. Finance Undersecretary Gil S. Beltran said on Monday, Dec. 20, 2021, that the higher-than-expected...
PSX_20211129_155403 New York's Bankruptcy Court has approved Philippine Airlines, Inc. (PAL)'s reorganization plan, the flag carrier announced. “Today’s court approval represents a critical moment in our journey to emerge as a stronger airline," Gilbert F. Santa Maria, PAL president & chief...
The country’s gross domestic product (GDP) could hit 5.5 percent growth for this year as more sectors of the economy are reopened and mobility restrictions are eased, according to the Development Budget Coordination Committee (DBCC). The DBCC, an inter-agency body that sets the country's...
The Manila-based Asian Development Bank (ADB) has raised its economic growth outlook for the Philippines due to improving coronavirus (COVID-19) situation and the acceleration in the government’s inoculation program. Based on the supplement to the Asian Development Outlook (ADO) 2021 on Tuesday,...
