The Department of Finance (DOF) said the Philippines maintains its position as the fastest-growing economy in Southeast Asia, surpassing its regional peers despite the second-quarter slowdown. Finance Secretary Benjamin E. Diokno said the country’s gross domestic product (GDP) average growth of...
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan expects that speeding up government spending during the second half of the year could improve the country’s growth rate by the end of 2023. NEDA Secretary Arsenio Balisacan (Photo from the Presidential Communications...
Senator Ronald “Bato” Dela Rosa on Monday, August 21 claimed he was “taken out of context” over his statement saying Filipinos should bear more children to help lower the country’s debt per capita. Sen. Ronald "Bato" Dela Rosa (Senate PRIB Photo) In a phone interview, Dela...
The local stock market fell after the government reported slower economic growth for the second quarter of 2023. The main index lost 80.79 points or 1.24 percent to close at 6,449.66 as the Mining and Oil counter led all sectors in the retreat. Volume was still weak at 513 million shares...
The Marcos administration's economic managers on Thursday, Aug. 10, recommended an accelerated government spending in the coming quarters to recover its growth momentum following the 4.3 percent expansion of the country's gross domestic product (GDP) in the second quarter of 2023. (File...
The local stock market dropped after the government reported a much lower economic growth rate for the second quarter of 2023. As of 10:50 this morning, the PSEi was down 63.51 points or 0.97 percent at 6,466.94 with all sectors declining, led by Banks. There were 84 losers to 43 gainers with 43...
Department of Budget and Management (DBM) Secretary Amenah Pangandaman on Thursday, Aug. 3, denied that the agriculture sector will get a lower budget allocation under the proposed P5.768-trillion National Expenditure Program (NEP) for 2024. Budget Secretary Amenah Pangandaman (RTVM screenshot) She...
The Maharlika fund would be invested in agriculture, infrastructure, and energy development, President Ferdinand “Bongbong” Marcos Jr. said on Tuesday, July 18, after signing into law the bill creating the Maharlika Investment Fund (MIF) and allaying fears of fund mismanagement. President...
Senior Deputy Speaker Pampanga 3rd district Rep. Aurelio "Dong" Gonzales Jr. (Facebook) The Philippines can do better than the upgraded Gross Domestic Product (GDP) forecast of the World Bank (WB), as far as Senior Deputy Speaker Pampanga 3rd district Rep. Aurelio "Dong" Gonzales Jr. is concerned....
Government spending is vital to national growth. It is one of the four components of Gross Domestic Product (GDP). The other three are consumer spending, business investment, and net exports. In the past two years, Statista reports that the ratio of government expenditure to GDP in the past three...
Three years after the onset of the pandemic that plunged the economy into a steep recession, the Philippine Statistics Authority’s most recent announcements on three key indicators of the country’s economic health evoked reasonable optimism. First, the unemployment rate declined to 4.7 percent...
House Speaker Martin Romualdez (left) and President Ferdinand "Bongbong" Marcos Jr. (Speaker's office) House Speaker Martin Romualdez has credited the Marcos administration for the country's recent economic upswing, in terms of gross domestic product (GDP). In a statement Friday, May 11, Romualdez...
