President Ferdinand “Bongbong” Marcos Jr. will be the only leader from the Association of Southeast Asian Nations (ASEAN) who will attend the 2023 World Economic Forum (WEF) in Davos, Switzerland, next week, the Department of Foreign Affairs (DFA) said. DFA Undersecretary Carlos Sorreta said...
The year 2023 has been acknowledged by the International Monetary Fund as a year of global economic recession that would hit one-third of the world’s economy. The economic difficulties have been brought about by Russia’s war in Ukraine, causing oil prices to rise to historic levels, disrupting...
Various stakeholders of the Philippine Economic Zone Authority (PEZA) have endorsed to Malacanang Officer-in-charge (OIC) Deputy Director General Tereso O. Panga to stay on as leader of the agency that administers the country’s economic zones and their export-oriented locators. The endorsements...
The Department of Public Works and Highways (DPWH) has completed a 4.4 kilometer road, which it said, has economically benefited the local farmers in the highland communities in Lemery, iloilo. In a statement on Jan 7, DPWH Secretary Manuel Bonoan said the concreted road has provided a more...
President Ferdinand R. Marcos, Jr.’s state visit to China has yielded productive results that strengthen what he describes as “the positive trajectory” of the two countries’ relationships. Since 2018, the Philippines-China relations had been elevated to the Comprehensive Strategic...
Unemployment rate in November fell to its lowest level in over 17-years, signaling the strong recovery of the economy from the prolonged pandemic, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority reported on Friday, Jan. 6, that the level of...
Filipino businesses are wary of achieving sustained growth this year as the continued rise in prices of goods are expected to fuel clamor for wage hikes and eventually dampen the domestic economy. George T. Barcelon, president of the Philippine Chamber of Commerce and Industry (PCCI), expects the...
Construction of the Bulacan high impact projects are being expedited by the Department of Public Works and Highways (DPWH) in a bid to further enhance cost-efficient economic activities in the province and neighboring areas. The projects include the P2,004,728.13 Bypass, Malolos Circumferential...
The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos, Jr., approved last December 16 the Philippine Development Plan for 2023-2028, with the following key macroeconomic targets: gross domestic product (GDP) growth ranging from 6.5 to 8.0 percent;...
House Committee on Ways and Means chairman Joey Sarte Salceda on Sunday, January 1 expressed his belief the Philippines will compete with Vietnam and India for the fastest growing major economy in Asia-Pacific this year, 2023. The Albay 2nd District Representative said he is optimistic about the...
As the world teeters on the brink of another recession, the Department of Finance (DOF) assured that the Philippine would weather the looming sharp contraction in global economic output next year. Finance Secretary Benjamin E. Diokno said the Philippines has the adequate buffers against external...
Finance Secretary Benjamin E. Diokno expects the Philippine economy would grow faster than expected this year due to surging manufacturing and construction sectors, as well as strong domestic demand. In a commentary released on Wednesday, Dec. 28, Diokno said the country’s economy, as measured by...
