The Philippines may miss its target of at least 6.5% economic growth this year after a resurgence of Covid-19 infections forced the capital into a two-week lockdown, Economic Planning Secretary Karl Chua said. “We were a healthy economy before COVID. Now, we’re struggling,” Chua said in an...
The rate of increase in consumer prices softened in March this year after five consecutive months of acceleration, the Philippine Statistics Authority (PSA) reported on Tuesday, April 6. Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua The country’s headline inflation slowed from 4.7...
The extended enhanced community quarantine (ECQ) in Metro Manila and nearly provinces will push more than 100,000 additional Filipinos into poverty as these stringent lockdowns are seen take a heavier toll on the economy, jobs and household income. Finance Secretary Carlos G. Dominguez III and...
Two economic managers have lauded the enactment of the government’s second tax reform program that will unleash one of the country’s largest stimulus measures, but a group also raised that the newly-signed law has succumbed to the “powerful lobby.” Finance Secretary Carlos G. Dominguez III...
Employers yesterday slammed the government’s move to restore strict quarantine measures and suspension of some economic activities for two weeks stating this will cost billions of pesos and reverse the growth momentum that just started early this year. In a phone interview, Employers...
The government will not impose a stricter and blanket community quarantine despite sharp rise in coronavirus infections, as the National Economic and Development Authority (NEDA) said hard lockdown is very detrimental to the economy. Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua...
Foreign direct investments (FDI) last year dropped 24.6 percent to a net inflow of $6.542 billion from $8.671 billion in 2019, but it was more than the Bangko Sentral ng Pilipinas’ (BSP) $6-billion projection for 2020. “The disruptive impact of the pandemic on global supply chains and the weak...
The National Economic and Development Authority (NEDA) wants more cycling and building protected bike lanes to augment public transportation and help people safely get to work during the COVID-19 pandemic. In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said that...
The National Economic and Development Authority (NEDA) said that empowering local government units (LGUs) to develop and implement post disaster rehabilitation and recovery programs is crucial for the country’s bounce back plan. During the Ready to Rebuild Training Program Launch last Thursday,...
The Duterte administration expects Congress to pass its 12 top priority measures by June this year to enable the country bounce back from the coronavirus pandemic, the National Economic and Development Authority (NEDA) said. The Legislative-Executive Development Advisory Council (LEDAC) Executive...
Filipino-Chinese businessmen in the country strongly throw their support behind the decision of the government’s economic managers to de-escalate Metro Manila under the general community quarantine (GCQ) to modified GCQ (MGCQ) to quickly and decisively revive the Philippine economy. In a...
The enactment of the Financial Institutions Strategic Transfer (FIST) law, which is expected to free up over P1 trillion worth of banks’ soured loans and non-performing assets and assist 600,000 micro, small and medium enterprises (MSMEs), will ensure the stability of the local financial system...
