London-based think tank Capital Economics warned that the strong gross domestic product (GDP) growth seen in the third quarter is unlikely to be sustained amid weak economic momentum, slowing remittances and exports, and tighter fiscal policies. "GDP growth in the Philippines accelerated in the...
Senators on Thursday, Dec. 12, approved on second reading the bill reorganizing the National Economic and Development Authority (NEDA) into the Department of Economy, Planning and Development (DEPDev). Senator Juan Miguel “Migz” Zubiri, chairperson of the Senate Committee on Economic Affairs,...
The Organisation for Economic Co-operation and Development (OECD) sees the potential of around 400 private enterprises to go public—one of the main factors that will develop the local capital market. This is according to an in-depth assessment of the Philippine capital market released by the...
The Organisation for Economic Co-operation and Development (OECD) recommended that the Philippines diversify its transport options to reduce logistics costs and alleviate bottlenecks in the semiconductor and export sectors. In a report titled "Promoting the Growth of the Semiconductor Ecosystem in...
Following a series of destructive calamities that have battered the Philippines and impacted its economy, the World Bank has reduced its 2024 gross domestic product (GDP) growth forecast for the country to 5.9 percent. “While the baseline growth forecast for 2024 was revised downward to 5.9...
In Asia-Pacific, Filipinos enjoy pension amounts that are closest to their pay before retiring, according to the Organization for Economic Cooperation and Development (OECD). In its Pensions at a Glance Asia/Pacific 2024 report published on Dec. 6, the OECD said that at 72 percent, the Philippines...
President Marcos' economic managers have revised their growth projections for this year and adjusted their outlook for the following years amid global uncertainties. Budget Secretary Amenah F. Pangandaman said in a statement that the country’s economy, as measured by gross domestic product (GDP),...
The ASEAN+3 Macroeconomic Research Office (AMRO) has lowered its economic growth forecast for the Philippines for this year while maintaining its outlook for 2025 due to easing inflation and a less restrictive monetary policy. In a statement on Monday, Dec. 2, the regional think tank said the...
President Marcos tagged as "very worrisome" the sighting of a Russian attack submarine in the West Philippine Sea. Russian submarine Ufa 490 is detected by the Armed Forces of the Philippines (AFP) and escorted by the Philippine Navy while transiting the West Philippine Sea on Nov. 28, 2024. (Photo...
A Canadian trade mission composed of a "powerhouse delegation" is coming to the Philippines next week to promote business opportunities in Canada, the country's ambassador to Manila announced Wednesday, Nov. 27. Canadian Ambassador David Hartman said business representatives, entrepreneurs, and...
The economic team of President Ferdinand Marcos Jr. asserted that it is "business as usual" for the Philippine government, citing the nation’s resilience in the face of ongoing political unrest. In a joint statement released late Tuesday, Nov. 26, the economic managers cited the strength of the...
The United States has offered members of the Association of Southeast Asian Nations (ASEAN) its help to bolster their domain awareness to address cases of illegal intrusions and coercion. According to the US Defense Department, securing domain awareness is a foundational aspect of supporting its...
