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...
Consumers are in no luck this week as they will need to bear the brunt of massive oil price hikes at the domestic pumps - with gasoline prices rising by hefty P2.80 per liter, based on the pricing advisories of the oil companies. For diesel products, the oil companies announced that the price...
Financial torture will strike at consumers’ pockets again next week, as big-ticket price hikes are looming at the domestic petroleum pumps, based on the calculation of the oil companies. As reckoned from the outcome of five-day trading in the regional market, the anticipated heftiest price hike...
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...
The Philippines’ economic growth will maintain its progress this year only if effective policy responses are being implemented, researchers from the Philippine Institute for Development Studies (PIDS) said. In a study titled “Macroeconomic Outlook of the Philippines in 2023–2024: Prospects...
The Marcos administration has expressed optimism that it is possible to attain a single-digit poverty rate by 2028 through President Marcos' catch-up plan to increase economic growth and ensure a high inclusivity rate of such growth. File photo National Economic and Development Authority (NEDA)...
The country’s economy surged in the third-quarter on the back of higher consumer spending, the Philippine Statistics Authority (PSA) reported on Thursday, Nov. 9. The economy, as measured by the gross domestic product (GDP), grew by 5.9 percent in July to September this year, stronger compared to...
The Department of Finance (DOF) said the country's growth prospects continue to be robust despite the slowdown experienced in the first half of the year. Depiste global headiwnds, Finance Secretary Benjamin E. Diokno said the government is committed to achieve a gross domestic product (GDP) growth...
Finance Secretary Benjamin E. Diokno admitted that China's economic slowdown would have a minor impact on the Philippines. At the ASEAN Roundtable in Marrakech, Morocco, the government's chief economic manager said that China's economic slowdown would have an impact on Philippine exports. ...
CANDON CITY, Ilocos Sur – A prominent business leader expressed optimism that the country can still achieve a six percent economic growth in 2023 despite a global slowdown. AMBASSADOR Francis Chua (left), chairperson of the Bank of Commerce, with Pandesal Forum moderator Wilson Lee Flores....
The government remains confident of the six percent to seven percent target rate by the year-end, the National Economic and Development Authority (NEDA) said. NEDA Secretary Arsenio M. Balisacan said the slowdown in the second quarter could be offset by fiscal spending in the third quarter,...
With successive cost spikes already running on its 11th week, the consumers’ drive to the gasoline stations will mimic another episode akin to squeezing blood from stone as petroleum prices will incur hefty increases next week, based on the calculation of the oil companies. According to the...
