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...
The Department of Finance (DOF) said the Philippine economy is prepared to withstand any potential negative impacts of this year's El Niño phenomenon. In a statement, the DOF said that the national government's 2024 gross domestic product (GDP) target of 6.5 percent to 7.5 percent has...
The Development Budget Coordination Committee (DBCC) has maintained the government's economic growth target for the year and has marginally adjusted its forecast for next year. The DBCC, an inter-agency body tasked with determining the government’s macroeconomic assumptions, kept its gross...
President Marcos’ chief economic manager has expressed “full confidence” that the Philippine economy remains firmly on the path to recovery and progress despite growing below target. Finance Secretary Benjamin E. Diokno said the country’s first three-quarter gross domestic product (GDP)...
Finance Secretary Benjamin E. Diokno, the government’s chief economic manager, expects the Philippine economy to grow by close to six percent this year. The Philippine Statistics Authority reported on Thursday a better-than-expected gross domestic product (GDP) growth of 5.9 percent in the third...
The Department of Budget and Management (DBM) reported that higher public spending from July to September this year greatly contributed to a stronger-than-expected economic growth. Budget Secretary Amenah F. Pangandaman said the accelerated government spending in the third quarter contributed 36...
The country’s economy surged in the third-quarter on the back of higher consumer spending, the Philippine Statistics Authority (PSA) reported on Thursday, Nov. 9. The economy, as measured by the gross domestic product (GDP), grew by 5.9 percent in July to September this year, stronger compared to...
The Department of Finance (DOF) said the country's growth prospects continue to be robust despite the slowdown experienced in the first half of the year. Depiste global headiwnds, Finance Secretary Benjamin E. Diokno said the government is committed to achieve a gross domestic product (GDP) growth...
Sovereign credit ratings may seem complicated, but they are essentially evaluations of a country's financial well-being. These ratings determine the likelihood of a country meeting its financial commitments and have significant effects on important economic factors that directly impact the lives of...
Finance Secretary Benjamin E. Diokno called upon his regional counterparts to join forces and actively collaborate in overcoming the diverse challenges hindering Southeast Asia's recovery from the Covid-19 pandemic. At the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting in...
The third quarter 2022 Gross Domestic Product (GDP) growth rate was maintained at 7.6-percent. However, changes were observed in all industries except public administration and defense; compulsory social activities. The major contributors were: real estate and ownership of dwellings, from 3.1...
The Philippine Statistics Authority’s announcement that the country achieved a 7.6 percent growth in gross domestic product (GDP) in 2022 affirms that, despite high inflation rates, the economy is on track in regaining its pre-Covid pandemic footing. This improves on the 5.7 percent growth in...
