Revising its narrower forecast earlier, the Bangko Sentral ng Pilipinas (BSP) now sees the Philippines’ balance of payments (BOP) deficit to widen this year and next year due to widening trade-in-goods gap. As of September, the BSP is projecting the BOP hole to widen to 1.4 percent of the...
A larger balance of payments (BOP) surplus in August narrowed the country’s cumulative deficit for the first eight months of the year to its lowest level in five months, according to the Bangko Sentral ng Pilipinas (BSP). The latest data from the BSP showed that the BOP, which reflects the...
The reversal of the Philippines’ balance of payments (BOP) position to a surplus in June brought down the country’s BOP deficit by 3.5 percent to $5.6 billion in the first six months of 2025. Data from the Bangko Sentral ng Pilipinas (BSP) showed that the BOP, which reflects the country’s ...
A group of teachers on Tuesday, July 1, called on the Department of Education (DepEd) to launch an investigation into reports of an alleged “item-for-sale” scheme in public schools, where teaching positions are reportedly being sold to applicants in exchange for cash. “This is a matter of...
After swinging to a $3-billion deficit in the first quarter, the Philippines’ balance of payments (BOP) is projected to more than double at $6.3 in the second quarter of the year, marking its widest shortfall in more than four years since the $9.14 billion posted in the last quarter of 2020, the...
The Department of Education (DepEd) on Thursday, June 26, announced that it is intensifying its crackdown on “pay-for-position” schemes, warning that appointments and promotions within the agency must be strictly based on merit and competence. In a statement, DepEd emphasized its zero-tolerance...
The Philippines’ balance of payments (BOP) swung to a $298-million deficit in May, a reversal from the billion-dollar surplus a year ago, as the government drew down its dollar reserves to pay foreign debts. Data from the Bangko Sentral ng Pilipinas (BSP) showed that the country’s BOP, which...
A wider current account deficit drove the Philippines’ balance of payments (BOP) position from a $238-million surplus in the first quarter of 2024 to a $3-billion deficit in the same period this year, according to the central bank. For the January-to-March period, the country’s current account...
The Philippines ended 2024 with a lower net international investment position (IIP) of $65.5-billion net external liability, as foreign investments in the country declined faster than its assets abroad. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed that the end-December’s net...
Senator Juan Edgardo “Sonny” Angara on Friday, June 30 said he is confident President Ferdinand “Bongbong” Marcos Jr. has plans to further promote the Philippines as a potential destination for foreign investments in the next five years. ...
The Governance Commission for Government-Owned or-Controlled Corporations (GCG) initiated a dialogue with the Clark Development Corp. (CDC) to come up with an amicable solution to the Compensation and Position Classification System (CPCS). In a statement, Alex L. Quiroz, GCG chairperson said they...
The Governance Commission for GOCCs (GCG) has assured government workers of an amicable resolution on issues raised in line with the implementation of the Compensation and Position Classification System (CPCS). In a statement, GCG reiterated its steadfast commitment of staying true to its mandate....
