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...
While deemed as one of the Philippines’ economic drivers during the COVID-19 pandemic, the agriculture sector is also at risk of having its national budget allocation reduced due to fiscal adjustments post COVID. Ibit Integrated Farm is a five-hectare land in San Fernando, La Union that has been...
The Philippines posted its worst economic performance on record last year after the coronavirus pandemic crippled consumer spending and business activity. Jeepney drivers wearing face masks queue up to receive food packs from a concerned citizen on a road in Manila on August 6, 2020. (AFP / FILE...
Michael Gerard “Mike” Enriquez Sun Life Philippines expects the Philippine economy to undergo a “U-shaped,” a longer type of recovery and a return to trend line growth in the next two years. Michael Gerard D. Enriquez, Sun Life chief investments officer, said the country’s economy,...
