Finance Secretary Ralph G. Recto said he expects the economy to grow within the target band of 5.8 percent to 6.3 percent in the first quarter of this year. These estimates were based on the high base effect from last year wherein the economy grew by 6.4 percent during the first quarter, Recto...
The National Economic and Development Authority (NEDA) said it is crucial to ease the inflation rates, particularly the rice prices, in the coming months to achieve the government's growth target. NEDA Secretary Arsenio M. Balisacan told reporters that the goal of keeping the inflation within...
Foreign investors should consider doing business in the Philippines as the government has been taking a proactive approach to improving the economy despite external risks, the National Economic and Development Authority (NEDA) said. During the Philippine Investors Dialogue in Washington D.C., NEDA...
Bukidnon is the top agricultural area in the country, data from the Philippine Statistics Authority (PSA) showed. Based on the survey of 82 provinces and 17 highly urbanized cities, it reported that Bukidnon had the highest gross value added (GVA) to agriculture, forestry, and fishing (AFF) in 2022...
Finance Secretary Ralph G. Recto said that the inflation rate would increase in March but would not exceed the three percent to four percent target band amid higher interest rates. “We're expecting that, it will be a bumpy road. Now, if that will happen then I think the interest rates will be...
The inflation rate, or growth of consumer prices, for March may be slower than the 3.4 percent readout last month, National Economic and Development Authority Secretary Arsenio M. Balisacan said Thursday, March 21 Balisacan told reporters that they are confident that inflation for this month will...
The Philippines may become a $2 trillion economy in the next decade should reforms on education, infrastructure, renewable energy, among others, are sustained, the head of the World Economic Forum (WEF) said. In a briefing on Tuesday, March 19, Børge Brende, WEF president, said that they are...
Food and Drug Administration (FDA) Director General Dr. Samuel Zacate announced on Tuesday, Feb. 13, that together with other agencies, they would create a task force against fake product advertisements to be launched this year. (From left) FDA Director General Dr. Samuel Zacate and FDA Director...
If the secession in Mindanao becomes a reality, investments in the region may be put at risk, an economist stated. Any political noise and uncertainty in policies will be taken into consideration by the investors as it would affect the profitability of their businesses, said Michael Ricafort, chief...
Banking giant UBS AG has raised its 2024 to 2025 gross domestic product (GDP) growth forecasts for the Philippines to 5.7 percent and six percent from 5.3 percent and 5.8 percent, respectively, following the stronger-than-expected 5.6 percent expansion last year. According to UBS Investment Bank...
The country’s economic growth fell short of the government's target last year, largely due to higher consumer prices that discouraged spending, data from the Philippine Statistics Authority (PSA) showed. The economy, as measured by the gross domestic product (GDP), expanded by 5.6 percent from...
Ahead of the release of the country's full-year growth figures, the National Economic and Development Authority (NEDA) announced that the economy had performed well in 2023, despite the significant challenges it encountered. NEDA Secretary Arsenio M. Balisacan said the local economy, as measured by...
