Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) The implications of the Philippine's gross domestic product (GDP) performance in 2024 has emboldened Albay 2nd district Rep. Joey Salceda as to the importance of the House...
Following the lower-than-expected third-quarter growth, the Department of Budget and Management (DBM) said it will prioritize agriculture and climate action to foster stronger economic growth in the year’s final three months. “We will reinforce our prioritization of agriculture and climate...
The National Economic and Development Authority (NEDA) remains confident that the government can still achieve its full-year growth target despite a slowdown in gross domestic product (GDP) growth in the third quarter of 2024. In a briefing on Thursday, Nov. 7, the Philippine Statistics Authority...
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...
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;...
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...
