The shift to more targeted lockdowns and the plan to ramp up mass vaccination will augur well for the Philippines’ economic recovery, which think tank Moody’s Analytics on Thursday said had been slowed down by prior missteps in pandemic response. “The Philippines is beginning to take a more integrated approach to managing the economic impact…
Tax and nontax revenues collected by local governments in the first half of 2021 inched up by about 4 percent year-on-year to amid easing quarantine restrictions and improving prospects due to the gradual reopening of the economy. Collections by the local governments in the first half of last year was P162.8 billion. Based on data…
The Philippines is seen avoiding a slowdown in its economic rebound in the third quarter amid relatively lower COVID-19 infections compared to its neighbors suffering from surges and with mass vaccination picking up, UK-based think tank Pantheon Macroeconomics said. The Philippines would also likely join Indonesia and Thailand in achieving instead of 2023, Pantheon Macroeconomics…
The declining number of COVID-19 cases in the Philippines augurs well for economic recovery and the return of jobs lost amid last year’s pandemic-induced steep recession. But three think tanks on Monday cautioned the government against letting down its guard against the virus, especially as the more contagious Delta variant forced renewed lockdowns which hurt…
High inflation seen persisting throughout the year and vaccine hesitancy may slow the Philippines’ economic recovery, but the government is still confident that rebound from the pandemic-induced recession is just around the corner. In an economic bulletin Monday, Department of Finance (DOF) Undersecretary and chief economist Gil Beltran noted the 20.7-percent growth in total external…
The big-ticket infrastructure projects currently rolled out by the government will create an additional 1.6 million jobs this year, President Duterte’s infrastructure managers said on Wednesday. Public Works Secretary Mark Villar told the Asia Infrastructure Forum 2021 the government’s “Build, Build, Build” program had so far created as public infrastructure spending was doubled to 5…
President Duterte’s economic team on Tuesday expressed confidence that the economy will rebound starting the second quarter with mass vaccination in full swing and government spending, especially on infrastructure, remaining strong. During the Economic Journalists’ Association of the Philippines’ (Ejap) midyear forum, Finance Secretary Carlos Dominguez III said “we might appear to be behind our…
Insular Life Assurance Co. Ltd. (InLife) is optimistic that it will sustain the strong growth performance it posted during the first four months under the helm of its newly appointed chief. “Our sales metrics are very encouraging. Our first-trimester results are giving us double-digit growth in agency and group sales,” InLife president and chief executive…
The Bureau of the Treasury on Monday raised a bigger P21 billion from short-dated treasury bills as rates declined across the board due to stable inflation and improving economic prospects. The Treasury was supposed to sell only a total of P15 billion or P5 billion each across the three tenors but it doubled the award…
Amid expectations of slower growth this year, the Bangko Sentral ng Pilipinas (BSP) has committed to sustain its short-term financing arrangement with the national government and assist in economic recovery, Governor Benjamin Diokno said on Friday. At the Washington-based Institute of International Finance’s (IIF) 2021 Asia-Pacific Summit, Diokno said the BSP had already released P2…