The country’s economy grew at a much slower pace in the third-quarter last year, the Philippine Statistics Authority (PSA) announced on Wednesday, Jan. 26. In a statement, the PSA said the economy, as measured by gross domestic product (GDP), grew by 6.9 percent from July to September 2021,...
The lowering of Metro Manila’s alert level status would provide a solid, positive impact on the government’s efforts to perk up the local economy, the Department of Finance (DOF) said Thursday, Oct. 14. Finance Secretary Carlos G. Dominguez III said that downgrading the National Capital Region...
The World Bank trimmed its growth forecast for the Philippines this year and expects the country's economic activity to return to pre-pandemic level by 2023 yet because the government is likely to miss the goal of vaccinating most of its population by the end of 2021. Based on the World Bank East...
The long-term economic cost of the coronavirus and the pandemic-induced lockdowns would be over three-times greater than the multi-trillion peso debt obligations of the government, the National Economic and Development Authority (NEDA) estimated. Socioeconomic Planning Secretary Karl Kendrick T....
Philippine Ambassador to Prague Ombra Jainal has called on Czech investors to take a look at the Philippines' positive business outlook being one of the top emerging economies and countries for investments in the region amid the ongoing onslaught of the COVID-19 pandemic. Philippine Ambassador to...
The economy has returned into growth mode, posting a dramatic performance in the second-quarter as expected, but the country’s recovery is losing steam as the rapidly spreading Delta variant has forced the government to put the breaks on further reopening plans. 25245 The gross domestic product...
Debt-watcher Moody’s Investors Service is upbeat about the Philippines’ recovery prospects from the pandemic, expecting the economy to outperform most of the sovereigns it rates in terms of average growth up to 2025. In its latest credit analysis report on the Philippines, Moody’s cited its...
Albay Rep. Edcel Lagman disputed on Tuesday, July 27 President Rodrigo Duterte’s assertion that the 2019 coronavirus disease (COVID-19) pandemic cut short economic advancement of the country that was felt before the contagion. Duterte 2021 SONA Lagman, an independent, said Duterte, in his final...
Debt-watcher Moody’s Investors Service has lowered its forecast on the Philippine economy for the year as coronavirus battle enters another phase of uncertainty. In a research note released Wednesday, July 21, Moody’s said it is now projecting that the country’s economy, as measured by gross...
House leaders air admiration for Pnoy, sympathies for his family More key leaders of the House of Representatives have come out to express sincere sympathies to the family of the late former President Benigno “Pnoy” Aquino III whom they extolled as a great leader of the country. Deputy Speakers...
The contribution of the tourism industry to the country's economy plunged by a whopping 61.2 percent in 2020 amid the ongoing global pandemic, the Department of Tourism (DOT) revealed. Boracay Island when it reopened to domestic tourists in October 2020. (Photo by Tara Yap) Citing a recent report...
The Philippines is the “clear laggard” in Asia, Moody’s Analytics declared, noting that its economy will likely return to its pre-pandemic levels only by the end of next year. Decentralized health advice alongside the sluggish COVID-19 vaccine rollout is denting the nation’s recovery, an...
