Economy

MANILA – Just when they thought that they were saddled enough by the effects of the economic crisis, a number of Philippine firms had to endure the impact of natural calamities on their day-to-day operations. Utility companies, banks, airlines, and hotels, among many others, bore the brunt of tropical storm “Ondoy” (international code name...
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MANILA – Local consumer confidence improved in the 3 months ending September as the economy begins to show signs of recovery from the global crisis. The overall consumer confidence index (CI) for the third quarter increased slightly to -31.9% from -34.2% recorded in the previous quarter, data from the central bank’s Consumer Expectations Survey...
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MANILA – After posting its lowest annual contraction since November 2008, Philippine merchandise exports slipped by more than a quarter in July. Data from the National Statistics Office showed that export earnings fell 25.4% to $3.312 billion in July from $4.437 billion recorded in the same period last year. Compared to June’s export earnings...
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The International Monetary Fund (IMF) has warned member-countries of the dangers of pulling the plug too soon on stimulus packages that the Philippines, for instance, adopted in response to the global economic downturn. The warning aired by IMF managing director Dominique Strauss-Kahn in Berlin on Friday was especially significant for the Philippines, whose proposed...
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MANILA – The country’s debt stock is expected to increase by up to P234 billion next year as the government eyes more borrowings to help boost economic output. According to the Finance Department, the Philippines’ outstanding debt may hit P4.723 trillion or 56.7% of gross domestic product (GDP) in 2010 from the projected P4.489...
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