Achieving an eight percent gross domestic product (GDP) growth in the Philippines is doable, President Marcos said. President Ferdinand 'Bongbong' Marcos Jr. (Ali Vicoy) Marcos said it could be attained, stressing that the Philippine government "always plans for the ideal." "Sure. Why not?" Marcos...
Amid accelerating inflation and subdued global markets, National Economic and Development Authority Secretary Arsenio M. Balisacan expressed openness to revising this year's economic growth target downward. Balisacan said that the Development Budget Coordination Committee (DBCC), an inter-agency...
An economist stated that aside from the economic restrictions imposed by the Constitution, issues in education and infrastructure also deter foreign investors from entering the country. Bank of the Philippine Islands Lead Economist Emilio Neri, during a webinar at the Philippine Institute for...
Banking giant UBS AG has raised its 2024 to 2025 gross domestic product (GDP) growth forecasts for the Philippines to 5.7 percent and six percent from 5.3 percent and 5.8 percent, respectively, following the stronger-than-expected 5.6 percent expansion last year. According to UBS Investment Bank...
The Department of Finance (DOF) has indicated that the Marcos administration may need to adjust its economic growth targets due to the lower-than-expected expansion recorded last year. Finance Secretary Ralph G. Recto emphasized the need for the Development Budget Coordination Committee (DBCC) to...
The news of the country's debt nearing P15 trillion is undoubtedly alarming. It raises the question of why the government continues to borrow extensively, despite its significant indebtedness. While many Filipinos tend to avoid borrowing, viewing debt as inherently negative and a sign of poor...
The Marcos administration amassed a total of P1.2 trillion in new debt during its first full-year in Malacañang. Data from the Bureau of the Treasury showed that the national government concluded 2023 with a total outstanding debt of P14.616 trillion, nine percent or P1.197 trillion higher...
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...
The Philippine Statistics Authority (PSA) said the economy posted a slight improvement in the third quarter of last year than earlier reported, following revisions related to manufacturing, financial insurance, and service activities. The PSA said the expansion of the manufacturing industry...
Despite the country's economic improvement, the number of poor people did not decrease, as only those with higher incomes benefited from the gains, a study by the Philippine Institute for Development Studies (PIDS) revealed. Based on a PIDS discussion paper titled “Poverty Transitions and the...
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...
Finance Secretary Ralph G. Recto has dismissed worries about the country's ballooning debt stock, affirming the government's capability to meet all maturing financial obligations. Recto said that the current total government debt, which amounted to P14.51 trillion as of November last year,...
