The research arm of Frankfurt-based Deutsche Bank believes the Bangko Sentral ng Pilipinas (BSP) could eventually hike the 4.25-percent key interest rate over upcoming policy meetings, but the cycle could end after a maximum of three hikes as the Philippines still grows below potential. “Prices...
For Filipino consumers, it is a crippling puzzle: why are we hammered with over 100 percent cumulative oil price hikes while the rest of the world experiences only 40 percent to 60 percent increases for the same black gold? The answer is a toxic mix of heavy taxes, high import dependence, global...
The World Bank Group (WBG) said it is stepping up support for emerging market (EM) economies like the Philippines, as the ongoing Middle East conflict drives up commodity prices and disrupts global logistics, posing new risks to growth and food security. In a statement on Thursday, March 26, the...
President Marcos’ declaration of a state of national energy emergency is a calculated move. Clearly, the government intends to stay ahead of a brewing storm. And in an era where geopolitical tensions can send crude prices soaring overnight, timing is everything—and by most expert accounts, the...
The Department of Foreign Affairs (DFA) said Thursday, March 26, it will continue to look for possible partners around the world without compromising the Philippines ' interests after the arrival of Russian oil in the country. In a statement, the DFA reiterated its pronouncement deferring...
A unified government framework is needed to effectively address the global fuel and energy disruptions amid the continuing conflict in the Middle East, Sen. Francis “Chiz” Escudero said on Thursday, March 26. Escudero made the call as he welcomed President Marcos’ signing of Executive Order...
The declaration of a state of national energy emergency, precipitated by the escalating conflict in the Middle East, underscores the Philippines’ vulnerability to external shocks. As a nation heavily dependent on imported fuel, geopolitical instability in a region central to global energy supply...
Negros Occidental Gov. Eugenio Jose Lacson backed President Ferdinand R. Marcos Jr. 's national energy emergency declaration, saying it would give the national government more flexibility to respond effectively. “We support that and we will see what the result of this declaration is,”...
Declaring a state of national energy emergency should not be a cause of alarm as it does not place the country in a general emergency. President Marcos said this as he justified his move to declare an energy emergency. In his public address on Wednesday, March 25, a day after signing Executive...
There will be a sufficient supply of oil even after the 45-day worth of fuel supply in the country is used up, President Marcos said. Marcos made the assurance during a public address on Wednesday, March 25, a day after declaring a state of national energy emergency. He confidently stated that the...
Senate Deputy Majority Leader Joseph Victor “JV” Ejercito on Wednesday, March 25 said he welcomes President Ferdinand “Bongbong” Marcos Jr.’s declaration of a state of national energy emergency but the directive is already “a bit too late.” That is why Ejercito said the government...
Some senators on Wednesday, March 25 finally heaved a sigh of relief after President Ferdinand “Bongbong” Marcos Jr. finally declared a state of national energy emergency for the Philippines in light of the ongoing oil crisis. “I welcome the President’s declaration of a state of national...
