President Rodrigo Duterte’s economic managers said the imposition of stricter quarantine status over Metro Manila and nearby provinces is a necessary setback in the country’s recovery in the wake of the highly transmissible COVID-19 Omicron variant. The inter-agency Development Budget...
Despite a budget deficit breaching the P1 trillion mark, the national government’s revenue collections remained strong last year, an indication that the country is poised to achieve a robust economic recovery, a ranking finance official said. Finance Undersecretary Gil S. Beltran said there were...
The National Economic and Development Authority (NEDA) said the Omicron variant will not slam the Philippines' growth prospects for the year, saying the fresh blow of tighter quarantine controls is only temporarily. Two years into the COVID-19 pandemic, Socioeconomic Planning Secretary Karl...
President Duterte has committed an additional P10 billion to assist the provinces that felt the wrath of typhoon "Odette" over the weekend. President Rodrigo Duterte (center) presides over a meeting with local officials of Negros Occidental, uniformed personnel, and officials from the national and...
The Philippine economy on its way to recover lost ground, but should remain alert and not let its guard down as Omicron variant poses a threat to public health, the Department of Finance (DOF) said. Finance Undersecretary Gil S. Beltran said on Monday, Dec. 20, 2021, that the higher-than-expected...
PSX_20211129_155403 New York's Bankruptcy Court has approved Philippine Airlines, Inc. (PAL)'s reorganization plan, the flag carrier announced. “Today’s court approval represents a critical moment in our journey to emerge as a stronger airline," Gilbert F. Santa Maria, PAL president & chief...
The country’s gross domestic product (GDP) could hit 5.5 percent growth for this year as more sectors of the economy are reopened and mobility restrictions are eased, according to the Development Budget Coordination Committee (DBCC). The DBCC, an inter-agency body that sets the country's...
The Manila-based Asian Development Bank (ADB) has raised its economic growth outlook for the Philippines due to improving coronavirus (COVID-19) situation and the acceleration in the government’s inoculation program. Based on the supplement to the Asian Development Outlook (ADO) 2021 on Tuesday,...
86207658-56E7-4604-A1A0-E340CC9303B6 AirAsia Philippines is banking on “revenge travel” for a very strong 2022 recovery, says its spokesperson Steve Dailisan. People now have the confidence to plan for their future trips as reflected in the forward bookings from 31-120 days, he said. "This...
The World Bank has approved a fresh $600 million loan that aims to support the Philippines’ economic recovery from the coronavirus pandemic. In a statement, the Washington-based multilateral institution said it approved the financing for the government’s reform program to position the country...
Ramon Magsaysay 2021 awardee Roberto “Ka Dodoy” Ballon, along with sectoral representatives, have great expectations on Vice President Leni Robredo’s "Hanapbuhay para sa Lahat (Jobs for All)" plan should she win the presidency in the 2022 polls. Ramon Magsaysay 2021 laureate Roberto “Ka...
The World Bank said the Philippines is facing weaker long-term growth due to lower capital investment as well as loss of human and intangible capital. Without mitigation measures, the Washington-based multilateral institution warned that the country’s long-term growth potential will be only at...
