Business

The Bangko Sentral ng Pilipinas (BSP) expects inflation at 3.9-4.8 percent this month as rising oil and electricity rates offset falling rice prices and the peso’s continued rise against the dollar. Despite the possible uptick, the central bank said the rise in consumer prices would likely fall within its target of 3.5-5.5 percent this...
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MANILA, Philippines – Remittances will likely grow faster than initially expected this year, the Bangko Sentral ng Pilipinas (BSP) said, as it noted strong demand for Filipino workers abroad and the increasing deployment of professionals. Central bank Governor Amando M. Tetangco, Jr. told reporters last Friday that the BSP now expected money sent home...
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MANILA, Philippines – The government has so far sold $416 million worth of Fixed Rate Multicurrency Retail Treasury Bonds or the so-called OFW bonds as of yesterday. The amount is $84 million short of completing the government’s target to issue $500 million worth of the bonds, intended mainly for overseas Filipino workers (OFWs).
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MANILA, Philippines – Tax collection efforts have to be improved by the Philippines if the country is to grow at the same pace as its Southeast Asian peers, an International Monetary Fund (IMF) official yesterday said. It was a sentiment shared by a visiting team of London-based Fitch Ratings, a Finance official said separately.
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MANILA, Philippines – The International Monetary Fund (IMF) upgraded anew the Philippines’ economic outlook but the country is still expected to be the laggard in terms of economic growth among Southeast Asian countries this year. In its latest World Economic Outlook, the IMF said the country’s gross domestic product (GDP) would expand by 3.6...
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