economic-contraction | ABS-CBN News

PH seen remaining a laggard in ASEAN as window for new fiscal stimulus closes

Warren de Guzman, ABS-CBN News
Updated as of Jul 05 06:16 PM

 Japanese investment bank Nomura said on Monday it expects the Philippines to continue to lag behind its neighbors in terms of economic recovery after missing its window for additional fiscal spending to offset the effects of the COVID-19 pandemic. Read more »

NEDA sees 6 to 7 percent growth this year despite lockdowns

ABS-CBN News
Posted at Jun 15 03:23 PM

Socioeconomic Planning Secretary Karl Chua said that unlike the lockdown in 2020, the government did not shut down 75 percent of the economy this year despite going back to stricter quarantine measures.  Read more »

PH a regional laggard amid struggle with virus: Moody's Analytics

ABS-CBN News
Posted at May 24 04:55 PM

The Philippine economy has become the regional laggard as the country continues to struggle to contain the COVID-19 pandemic and roll out its vaccination program, Moody’s Analytics said on Monday.    Read more »

BSP chief says Philippines won’t exceed debt thresholds

Warren de Guzman, ABS-CBN News
Posted at May 20 05:03 PM

The Philippines' debt situation is under control and the country will not exceed its borrowing threshold, the head of the Bangko Sentral ng Pilipinas said on Thursday.  Read more »

Nomura sees remittances growing 5.1 percent this year

ABS-CBN News
Posted at May 18 04:30 PM

Remittances from overseas Filipinos may grow 5.1 percent this year after declining 0.8 percent in 2020, according to international financial services company Nomura.    Read more »

Dissecting Data: Economy sheds over P2 trillion in 15 months as quarantines bite

Warren de Guzman and Edson Guido, ABS-CBN News
Posted at May 11 03:10 PM

What do 5 straight quarters of economic decline mean in real terms?   Read more »

Dissecting Data: Foreign direct investments fall by a quarter

Warren de Guzman and Edson Guido, ABS-CBN News
Posted at Mar 11 02:44 PM

Three straight years of decline in FDI inflows indicate there are other reasons besides the pandemic why money isn’t flowing into a Philippine economy that averaged over 6 percent GDP growth in the years prior to the outbreak.  Read more »

First quarter GDP growth may still be negative, says BSP’s Diokno

ABS-CBN News
Posted at Mar 08 03:51 PM

Gross domestic product growth will likely remain weak in the first quarter, even negative, but there will be a strong rebound in the second quarter with the economy coming off a low base, the head of the Bangko Sentral ng Pilipinas said on Monday.  Read more »

'Ang tagal naman': Small businesses speak on Duterte forecast of 2023 return to normalcy

Warren de Guzman, ABS-CBN News
Posted at Mar 02 05:43 PM

Small business owners, eager for the economy and their earnings to return to normal, were confused by President Rodrigo Duterte's forecast that the country would return to normal by 2023. Read more »

‘Setting a low bar’: Economist hits Duterte remark on 2023 return to normalcy

Warren de Guzman, ABS-CBN News
Posted at Mar 02 04:06 PM

Economist Calixto Chikiamco also said Duterte’s statement will also damage and delay the country's economic recovery.  Read more »

Meralco net income falls as pandemic shutters businesses, industries

Bruce Rodriguez, ABS-CBN News
Posted at Mar 01 07:48 PM

Meralco reported a 9-percent reduction in core net income for 2020 to P21.7 billion while reported net income saw a sharper 30 percent dive to P16.3 billion.   Read more »

BSP rate hike will not work on current inflation: analyst

ABS-CBN News
Updated as of Feb 12 05:23 AM

Joey Roxas, president of Eagle Equities, said the current spike in inflation was "cost-push" or driven by rising costs from producers. Read more »

BSP rate cuts not enough anymore to revive economy: analyst

ABS-CBN News
Posted at Feb 10 04:45 PM

Reviving the Philippine economy will need more than interest rate cuts, an analyst said on Wednesday on the eve of the Bangko Sentral’s first monetary policy meeting this year.  Read more »

Bangko Sentral seen keeping rate steady despite inflation pressures

Reuters
Posted at Feb 10 03:50 PM

The Bangko Sentral ng Pilipinas is expected to keep its benchmark interest rate steady at a record low on Thursday, shrugging off a projected uptick in inflation to support the country's pandemic-hit economy, a Reuters poll showed. Read more »

PH seen losing P700 million daily with Metro Manila, other regions under GCQ

ABS-CBN News
Posted at Feb 01 06:46 PM

The Philippines is losing P700 million in wages and other income each day that Metro Manila and other regions remain on general community quarantine, the country’s economic planning chief said on Monday. Read more »

PH posts worst GDP contraction since World War 2 with -9.5 pct growth rate in 2020

ABS-CBN News
Updated as of Jan 29 05:43 PM

The Philippines' gross domestic product contracted anew in the fourth quarter shrinking 8.3 percent to bring the full year 2020 growth to -9.5 percent, the state statistics agency said Thursday. Read more »

Third quarter GDP growth revised upwards to -11.4 percent

ABS-CBN News
Updated as of Jan 27 12:38 PM

The Philippines' 2020 third quarter economic growth has been revised slightly upwards to -11.4 percent from an earlier -11.5 percent, the state statistics agency said on Wednesday. Read more »

Dissecting Data: Looking back at the Philippine economy in 2020

Warren de Guzman and Edson Guido, ABS-CBN News
Posted at Dec 29 06:35 PM

2020 was a record year, a year like no other, for all the wrong reasons.  Read more »

Nomura sees PH 'growth disappointment' in 2021, new rate cuts

ABS-CBN News
Posted at Dec 08 10:07 PM

Philippine economic growth next year will likely disappoint because of limited fiscal support, and this will lead the Bangko Sentral ng Pilipinas to cut rates, global financial services firm Nomura said on Tuesday.  Read more »

Ekonomiya ng PH muling sumadsad dahil pa rin sa pandemya

ABS-CBN News
Posted at Nov 10 07:42 PM

Muling sumadsad ang ekonomiya nitong nakalipas na 3 buwan dahil pa rin sa COVID-19 pandemic. Read more »