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World Bank downgrades Philippine GDP projections for 2024 and 2025
The World Bank downgraded its GDP projections for the Philippines in 2024 and 2025 due to “various headwinds facing private investment”, like the effects of higher interest rates and “rising indebtedness.”.....»»
House not keen on backing Senate’s wage hike
Officials of the House of Representatives are not keen on supporting the Senate-approved P100 legislated wage hike, citing reasons such as the capacity of employers to implement the measure......»»
DENR keen on Israeli technology for water supply in island barangays
The Department of Environment and Natural Resources is keen on adopting Israeli technology to provide affordable and accessible water to some 65-island barangays whose residents do not have sustainable water supply......»»
Philippines likely missed 2023 growth target
While some economists believe the Philippine economy likely grew faster in the fourth quarter, the overall expansion in 2023 is still expected to fall short of the six to seven percent target penned by the government’s economic managers......»»
Measuring income inequality
In a recent report about the Philippine economy, the Philippine Institute for Development Studies. stated that the economy will grow at a faster pace this year. The emphasis of the report was on the projections for economic growth measured in terms of the Gross Domestic Product......»»
Rama: No need to rush RPT revision
CEBU CITY, Philippines – Cebu City Mayor Michael Rama said revising the Real Property Tax (RPT) wasn’t yet necessary, showing a sudden change in his position. At first, Rama said the RPT revision had to be done this month. Later, he told the council that imposing the RPT suddenly wasn’t necessary, showing a change in.....»»
Near-target 2023 GDP growth acceptable amidst economic challenges – Neda chief
INQUIRER/ MARIANNE BERMUDEZ MANILA, Philippines — The country’s chief socioeconomic planner, Secretary Arsenio Balisacan of the National Economic and Development Authority (Neda), said that a 2023 economic growth slightly lower than the previous year’s 7.6 percent but near the government’s 6 to 7 percent target range would be considered acceptable, given the challenges faced by the.....»»
PH Economy Remains Optimistic Amid Global Slowdown
The country is one of the fastest growing economies in East Asia and the Pacific according to the World Bank, foreseeing robust growth despite global economic slowdown. In the latest World Bank Global Economic Outlook report released on Tuesday, the Philippines is expected to maintain its economic growth rate in 2024 at 5.8%, slightly higher […].....»»
S& P: Philippines may miss growth goal this year
S&P Global Ratings sees the Philippines again missing its growth targets this year as it kept its gross domestic product growth forecast at 5.9 percent. While the projection is better compared to other economies in the region, it is again below the government’s 6.5 to 7.5 percent growth target......»»
CitySavings Named One of the 2024 Philippines’ Growth Champions
City Savings Bank (CitySavings) continues to cement its position to become the leading mass market bank in the country with its inclusion as one of the 2024 Philippines’ Growth Champions. The Philippine Daily Inquirer released the report with international market research firm Statista. This year’s Philippines’ Growth Champions are companies with remarkable growth and resilience […].....»»
Philippine government retains 6.5 to 7.5 pct GDP growth target for 2024
MANILA, Jan. 26 (Xinhua) -- National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Friday expressed optimism that the Philippine government will achieve a gross domestic product growth of 6.5 percent to 7.5 percent in 2024. "This growth will be supported by low and manageable inflation, a labor force with access to more and better jobs, a stronger fiscal position in the form of a lower.....»»
Philippine government retains 6.5 to 7.5 pct GDP growth target for 2024
MANILA, Jan. 26 (Xinhua) -- National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Friday expressed optimism that the Philippine government will achieve a gross domestic product growth of 6.5 percent to 7.5 percent in 2024. "This growth will be supported by low and manageable inflation, a labor force with access to more and better jobs, a stronger fiscal position in the form of a lower.....»»
Double-digit growth in bank lending seen this year
The Philippine banking sector is expected to book double-digit growth in loan disbursements this year on the back of robust economic growth, according to BMI Country Risk & Industry Research......»»
Gov t cuts growth target to 6%-7% — NEDA
In a press briefing with the members of the press on Thursday, Balisacan said that the country's economic growth target had been revised following a careful consideration of factors such as the global economic slowdown, rising oil prices and inflation trends......»»
Recto sees ‘realistic’ 6-6.5 percent growth for Philippines
Finance Secretary Ralph Recto is looking at a “more realistic” economic growth of at least six to 6.5 percent for this year, with medium-term economic expansion likely to be tempered as well......»»
Philippines-Australia business deals seen to fuel economic growth
The business deals signed recently between the Philippines and Australia will help ensure economic growth and security in the Philippines, an international think tank said......»»
Quick rollout of PPPs to boost economic growth
The rollout of more infrastructure projects that involve the private sector is expected to prop up economic growth with the government likely to make up for its lagged spending last year, according to banking giant UBS......»»
‘Philippine banks to ride wave of robust economic growth’
The projected robust economic growth this year could shape up into a better year for Philippine banks, S&P Global Ratings said......»»
Moody’s Analytics sees below 5 percent GDP in Q4
Philippine economic growth likely slowed to below five percent in the final quarter of 2023 on the back of softer global economic growth, according to Moody’s Analytics......»»
Government sticks to 6.5-7.5 percent growth target for 2024
Despite global and domestic headwinds, the government is still aiming to attain a 6.5 to 7.5 percent economic growth for this year, according to National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan......»»