philippines-economy | ABS-CBN News

Foreign Chambers weigh in on proposed sovereign wealth fund

Warren De Guzman, ABS-CBN News
Posted at Dec 01 03:33 PM

Several foreign chambers in the country said on Thursday they were 'monitoring' the progress on the proposed Maharlika Sovereign Wealth Fund. Read more »

Peso again touches record low against dollar

ABS-CBN News
Posted at Sep 01 08:32 PM

The Philippine peso again touched a record low of P56.45 against the US dollar in intraday trading, before closing at 56.42, according to the Bankers Association of the Philippines. Read more »

Cause for concern as PH debt doubles under Duterte, says think tank

Rowegie Abanto, ABS-CBN News
Posted at Jun 03 01:16 PM

The Philippines' national debt under the Duterte administration has doubled, IBON Foundation pointed out. Read more »

Early interest rate hike seen to anchor inflation expectation

Jessica Fenol and Raine Musngi, ABS-CBN News
Updated as of Mar 24 03:31 PM

An earlier-than-anticipated rate hike in May could help the BSP anchor inflation expectations and prevent a more aggressive policy adjustment in the second half of 2022, an economist said Thursday. Read more »

Duterte may call Congress special session if Russia-Ukraine war escalates

Job Manahan, ABS-CBN News
Posted at Mar 08 05:12 PM

'Prangka-prangkahan na lang natin ‘yung Congress. This is intended really for the welfare of the people. If you have the time, sit with us and we can discuss it.' Read more »

Concepcion calls for full reopening of PH economy anew

Mico Abarro, ABS-CBN News
Posted at Feb 25 05:01 PM

Palace adviser Joey Concepcion says Filipinos need to brace themselves for higher oil and wheat prices due to the conflict in Ukraine. Read more »

PH Q4 prospects 'looking good' says analyst

ABS-CBN News
Posted at Nov 10 09:04 PM

IHS Markit Asia-Pacific Chief Economist Rajiv Biswas says Philippine growth for the fourth quarter is looking good and will be more competitive in manufacturing as companies diversify away from China. Read more »

Philippine e-commerce seen growing faster than forecast

Bruce Rodriguez, ABS-CBN News
Posted at Aug 17 06:55 PM

Philippine e-commerce services provider Etaily said it believes the country can become a major hub for digital commerce in Southeast Asia. Read more »

IMF cuts Philippine economic growth forecast to 5.4 percent for 2021

ABS-CBN News
Posted at Jun 16 02:21 PM

The International Monetary Fund on Wednesday trimmed its growth forecast for the Philippine economy for 2021 due to the slow recovery aggravated by a fresh wave of COVID-19 infections. Read more »

Pandemic 'clearly' worsened PH poverty in 2020: ADB official

Warren de Guzman, ABS-CBN News
Posted at Apr 28 03:06 PM

Poverty in the Philippines worsened due to the COVID-19 pandemic and will remain high this year, an official of the Asian Development Bank said Wednesday. Read more »

Philippines bags P137-B in investment pledges in January-March 2021

John Gabriel Agcaoili, ABS-CBN News
Posted at Mar 25 02:28 AM

MANILA - The Philippines posted P137 billion in investment pledges or approved investments from January to March this year despite the effects of the COVID-19 pandemic, the country's trade chief said Wednesday. Read more »

PH economy seen growing 9.6% this year despite delayed vaccination program

Warren de Guzman, ABS-CBN News
Updated as of Mar 04 02:48 AM

MANILA - The Philippine economic recovery post-COVID is expected to start off with a near 10 percent rebound in GDP growth this year, but there are few roadblocks to growth.  Read more »

Dominguez: PH needs ‘more years’ to fully recover losses from pandemic

Bruce Rodriguez, ABS-CBN News
Posted at Feb 26 07:33 PM

Finance Secretary Carlos Dominguez III said the local economy will need "more years" to go back to its pre-pandemic levels as the country continues to stagger from the impacts of COVID-19. Read more »

Dissecting Data: Surging pork prices push inflation to 2-year high; NCR, poor among worst hit

Warren de Guzman and Edson Guido, ABS-CBN News
Updated as of Feb 05 11:39 PM

Philippine inflation hit a two-year high in January, at 4.2 percent, starting 2021 on a sour note for the economy. Read more »

Philippine inflation quickens to 4.2 percent in January

ABS-CBN News
Updated as of Feb 05 01:23 PM

MANILA (UPDATE 2) - Philippine inflation quickened in January driven by higher food prices, the state statistics bureau said on Friday. Read more »

PH full economic recovery may take 4-5 yrs: Biz leaders

Bruce Rodriguez, ABS-CBN News
Posted at Feb 03 09:03 PM

Some business leaders warned of a slowed growth for the Philippines, saying full recovery could take four to five years if the country will not relax foreign ownership and accelerate consumption. Read more »

Ayala Corp chair sees full economic recovery by fourth quarter of 2022

Bruce Rodriguez, ABS-CBN News
Posted at Jan 22 07:01 PM

Ayala Corp Chairman Jaime Augusto Zobel de Ayala, one of the country's top business leaders, said Friday the Philippine economy will likely recover to pre-pandemic levels by the fourth quarter of 2022. Read more »

Dissecting Data: Spikes in food, transpo costs push inflation to 22-month high

Bruce Rodriguez, Edson Guido, ABS-CBN News
Updated as of Jan 05 06:13 PM

Philippine inflation has now quickened for three straight months since October 2020, settling at its highest level since the 3.8 percent rate seen in February 2019.  Read more »

Inflation quickens to 3.5 percent in December as food, transpo costs spike

ABS-CBN News
Updated as of Jan 05 10:21 AM

It was also the fastest inflation since the 3.5 percent registered in March 2019,  the Philippine Statistics Authority said.  Read more »

'Virtuous Impatience' is what PH needs, says Ex-NEDA chief Pernia in new book

Bruce Rodriguez, ABS-CBN News
Posted at Dec 18 06:28 PM

The Philippines' lack of sense of urgency is the main reason for the government's perennial problems of inefficiency and corruption, according to a former socioeconomic leader. Read more »