The Makati City local government was recognized by the Department of Finance 's (DOF) Bureau of Local Government Finance (BLGF) on Wednesday, Nov. 5, as one of the top-performing cities in the country for Finance Year 2024. Makati Mayor Nancy Binay said the city was ranked among the Top 10...
Progressive fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) has called on Environment Secretary Raphael Lotilla to investigate the ongoing offshore dredging operations in Ilocos Sur, which the group said have caused severe income losses to more than 9,000 small...
The Philippines will borrow $800 million, or over ₱45 billion, from the World Bank next year for another development policy loan (DPL) that aims to increase clean energy use and enhance water management in the country. In a Sept. 23 project information document (PID), the Washington-based...
Malacañang remains hopeful that the Philippines would be able to attain the upper middle income threshold this year. The country is just $26 away from reaching the upper middle-income country (UMIC) status, according to Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio...
Citing a lackluster performance that the Philippine economy has been showing since its recovery from the Covid-19 pandemic, climbing to the high-income-status target 15 years from now could be impossible, the country’s chief socioeconomic planner stated. Department of Economy, Planning, and...
While the Philippines’ climb to upper-middle-income-country (UMIC) status is attainable in the medium term, the country will be surpassed by neighboring Vietnam, which would jump to become a high-income economy 15 years from now, according to Singapore-based DBS Bank Ltd. The Philippines,...
The Department of Agriculture (DA) is set to receive a loan financing from the Washington-based multilateral lender World Bank next year for a project aimed at supporting small agri-businesses. A June 26 document published on Thursday, July 3, showed that the DA is seeking an investment project...
President Marcos is optimistic that the country would achieve upper-middle-income status during his presidency, Malacañang said. Palace Press Officer and Communications Undersecretary Claire Castro said the administration will double its efforts in order to attain the status. “[L]agi pong...
President Ferdinand Marcos Jr.’s chief economic manager said that achieving upper-middle-income country (UMIC) status is definitely attainable by the end of 2025 or 2026, citing the still expansionary national budget planned for next year to stimulate the economy. “Surely, we will attain UMIC...
As widely expected, the Philippines remained classified as a lower-middle-income country (LMIC) after narrowly missing the lowered threshold to achieve upper-middle-income country (UMIC) status, based on the World Bank’s latest country income classification. The latest data released by the...
The Philippines is seeking a World Bank loan worth billions of pesos to enhance technical-vocational education and training (TVET) in the country. In a concept document dated June 24, the World Bank said the investment project financing (IPF) for the proposed $250.625-million (over ₱14-billion)...
The Department of Social Welfare and Development (DSWD) reiterated that its “Ayuda sa Kapos ang Kita Program” (AKAP) is intended specifically for individuals earning below the minimum wage and who are affected by rising inflation. In a statement on Friday, June 20, Protective Services...
