Presumptive President Ferdinand R. Marcos Jr. will inherit a narrower economic growth target following a downgrading of growth forecast this year to 7.0 percent and 8.0 percent from the original assumption of 7.0 percent to 9.0 percent by the outgoing Duterte administration. The inter-agency...
The country’s gross domestic product (GDP) grew by 8.3 percent in the first quarter of 2022, higher than the 7.8 percent growth achieved in the fourth quarter of the previous year, and a significant reversal of the 3.8 percent decline a year ago. According to Socioeconomic Planning Secretary Karl...
Malacañang is confident that President Duterte will be turning over a good economy to his successor following reports of the country's growing gross domestic product (GDP) and foreign direct investment (FDI). Sec. Martin Andanar FB page Communications Secretary Martin Andanar made this statement...
The government debt as a proportion of the country’s economy inched up further in the first-quarter, supporting views that the administration of presumptive president Ferdinand R. Marcos Jr. will face a serious debt problem. The outstanding liabilities of the national government reached P12.679...
The economy grew faster than its pre-pandemic level in the first three-months of the year on the back of sustained growth momentum amid easing quarantine restrictions, the Philippine Statistics Authority (PSA) reported. From January to March, the country’s economy, as measured by gross domestic...
All regions in the country posted positive economic growths last year, a reversal of the contractions seen at the height of the coronavirus pandemic, the Philippine Statistics Authority (PSA) reported. Data from the PSA revealed on Thursday, April 28 that all economies of 17 regions in the...
Despite easing restrictions, the economy has not yet fully returned to its investment-led growth orientation seen before the pandemic struck, the Department of Finance (DOF) said on Sunday, April 16. Finance Chief Economist Gil S. Beltran said that capital formation as a percentage of real economy,...
The ASEAN+3 Macroeconomic Research Office (AMRO) has raised this year’s economic growth outlook for the Philippines to 6.5 percent from 6.2 percent on the back of robust government expenditures and recovering private sector spending. During a virtual briefing on Tuesday, April 12, Hoe Ee Khor,...
Despite external risks, the Philippines’ recovery is expected to gain traction this year as pandemic restrictions eased, allowing for more economic activities, the Asian Development Bank (ADB) said. In the Asian Development Outlook 2022 report released on Wednesday, April 6, the Manila-based...
The World Bank has slightly downgraded the Philippines' gross domestic product (GDP) outlook for 2022 from 5.8 percent to 5.7 percent, falling further below the Duterte administration's target of seven to nine percent due to external risks. In its East Asia and Pacific Economic Update released...
Heightened domestic demand is expected to cushion the impact of the Russia-Ukraine conflict on the economy in the first semester of the year, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in a joint report. FMIC and UA&P said that while Russian...
Presidential candidate and survey frontrunner Bongbong Marcos thinks that the Philippines needs another dose of Ferdinand Marcos-style industrialization in a bid to create an employment boom. Presidential candidate Bongbong Marcos (left) and his late father, strongman President Ferdinand Marcos...
