President Marcos' economic team plans to reassess the country's macroeconomic assumptions following a significant slowdown in consumer prices, the Department of Budget and Management (DBM) said. Budget Secretary Amenah F. Pangandaman said that the economic managers might consider revising the 2024...
House Speaker Martin Romualdez (Facebook) Speaker Martin Romualdez played up during plenary session on Wednesday night, Sept. 25 the contributions made by the House of Representatives, and Congress in general, to the economic...
Think tank Capital Economics has warned that the stalling Philippine economic growth would persist this year, even as easing inflation and expectations of more interest rate cuts by the central bank will improve prospects next year. While the country’s gross domestic product (GDP) grew 6.3...
The inflation rate, reflecting the increase in consumer prices, is expected to slow down in the coming months, aligning with forecasts from the government and the Bangko Sentral ng Pilipinas (BSP). In a commentary, Dutch bank ING said that headline inflation will retreat to the target of two...
The Philippine Gross Domestic Product (GDP) posted a year-on-year growth of 6.3 percent in the second quarter of 2024, compared to the 5.8 percent growth in the first quarter, according to the Philippine Statistics Authority (PSA). The PSA reports further that this is the highest growth rate posted...
The Philippine Statistics Authority (PSA) announced on Thursday, Aug. 8, that the country's economy increased by 6.3 percent in the second quarter of the year. The nation's gross domestic product (GDP) recorded strong growth, outpacing the 5.8 percent expansion seen in the first quarter of 2024 and...
The Philippine Statistics Authority (PSA) announced an upward revision of first-quarter economic growth from 5.7 percent to 5.8 percent. According to the PSA, key factors contributing to the revision included: Financial and insurance activities, which increased from 10.0 percent to 10.3 percent;...
Finance Secretary Ralph G. Recto said that the inflation rate may move at a much faster pace in July, while the impact of Typhoon Carina on the prices of goods is expected to be felt in the following months. “I think, coming from a low base, the inflation will be higher, but still within target...
The Department of Finance (DOF) said that the remittance of P89.9 billion in unused funds from the Philippine Health Insurance Corp. (PhilHealth) is projected to boost economic growth by 0.8 percentage points. Finance Secretary Ralph G. Recto said at the Post-State of the Nation Address...
The Philippines’ total savings rose to P6.60 trillion in 2023, breaching the pre-pandemic record, data from the Philippine Statistics Authority (PSA) showed. The PSA’s latest consolidated accounts and income and outlay accounts report released on Thursday showed the country’s 2023 gross...
The country posted the highest growth in the tourism sector last year despite coming from the pandemic period, data from the Philippine Statistics Authority (PSA) showed. The PSA reported that the share of tourism direct gross value added to the economy, as measured by the gross domestic product...
A plateau-like trend is forecasted for the Philippines’ gross domestic product (GDP) rate for the second quarter of 2024, attributed by higher employment and government spending, an economist from the University of Santos Tomas (UST) suggested. Carlos Manapat, UST economic department chairperson...
