DBCC’s revised growth target is too ‘meager,’ say analysts
THE DEVELOPMENT Budget Coordination Committee’s (DBCC) latest revision to the 2024 growth outlook is too insignificant, analysts said as they urged the government to focus on efforts to mitigate local and global headwinds.
Marcos inks P5.77-T national budget
PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday signed the P5.768-trillion national budget for 2024, as Congress focused on developing sectors such as education and national defense, among others.
WB sees faster remittance growth
REMITTANCE FLOWS to the Philippines are projected to grow by 5% this year and next year, the World Bank (WB) said, as demand for...
New vehicle sales growth slows to 7.6% in November
NEW VEHICLE SALES jumped by an annual 7.6% in November, the slowest growth in 21 months as high interest rates weighed on consumer demand.
A...
Publishers, bookshops ride the digital wave spurred by pandemic
ANDREA PASION-FLORES, a 52-year-old publisher based in Manila, is using the internet to sell books like hotcakes directly to consumers.
Big banks’ Q3 asset growth fastest in two quarters
THE COMBINED ASSETS of the Philippines’ biggest banks rose by 8.78% in the third quarter, while lending growth slowed amid high borrowing costs.
PEZA investments seen to hit over P170B
INVESTMENTS approved by the Philippine Economic Zone Authority (PEZA) this year would likely reach over P170 billion, its top official said.
PHL fiscal consolidation efforts on track — IMF
THE PHILIPPINES’ fiscal consolidation efforts are on track but the government can still implement further revenue mobilization and expenditure reforms to create more fiscal...
Financial resources reach nearly P30 trillion as of end-Oct.
THE TOTAL RESOURCES of the Philippines’ financial system hit close to P30 trillion as of end-October, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.
Rates to stay higher for longer — IMF
THE PHILIPPINE central bank should keep interest rates higher for longer until inflation fully returns to target, the International Monetary Fund (IMF) said.
PSE seeks tighter rules on delisting, backdoor listing
THE PHILIPPINE Stock Exchange, Inc. (PSE) is seeking to tighten rules on voluntary delisting, in the aftermath of a wave of listed companies going private.
PHL external debt hits $118.8B as of end-Sept.
THE PHILIPPINES’ external debt hit a record $118.833 billion at end-September, the Bangko Sentral ng Pilipinas (BSP) said.
Preliminary data from the BSP showed external...