Finance Secretary Ralph G. Recto said he expects the economy to grow within the target band of 5.8 percent to 6.3 percent in the first quarter of this year.These estimates were based on the high base effect from last year wherein the economy grew by 6.4 percent during the first quarter, Recto...
WASHINGTON (AP) â€" The nation's economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers â€" the main driver of economic growth â€" kept spending at a solid pace.Thursday's report from the Commerce Department said the gross domestic...
WASHINGTON â€" Coming off a robust end to 2023, the U.S. economy is thought to have extended its surprisingly healthy streak at the start of this year, with consumers still spending freely despite the pressure of high interest rates.The Commerce Department is expected to report Thursday that...
The National Economic and Development Authority (NEDA) said it is crucial to ease the inflation rates, particularly the rice prices, in the coming months to achieve the government's growth target. NEDA Secretary Arsenio M. Balisacan told reporters that the goal of keeping the inflation within...
Foreign investors should consider doing business in the Philippines as the government has been taking a proactive approach to improving the economy despite external risks, the National Economic and Development Authority (NEDA) said.During the Philippine Investors Dialogue in Washington D.C., NEDA...
The government's revenue collections will be impacted by the downward revision of the gross domestic product (GDP) but should be offset by improvement in their tax administration, according to National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan.During a Malacañang...
Bukidnon is the top agricultural area in the country, data from the Philippine Statistics Authority (PSA) showed.Based on the survey of 82 provinces and 17 highly urbanized cities, it reported that Bukidnon had the highest gross value added (GVA) to agriculture, forestry, and fishing (AFF) in 2022...
The country's socioeconomic planning agency remains positive that the Philippines will become an upper middle-income economy by next year.National Economic and Development Authority Arsenio M. Balisacan said that the country remains on track to achieving an upper middle-income status in 2025 which...
Finance Secretary Ralph G. Recto said that the inflation rate would increase in March but would not exceed the three percent to four percent target band amid higher interest rates."We're expecting that, it will be a bumpy road. Now, if that will happen then I think the interest rates will be...
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 said...
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 body...
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...
