Marcos Jr. admin’s first full-year budget: A record P5.268 trillion in 2023
The Budget Officer-in-Charge Secretary also approved a bigger 2023 budget, stating it was considering that economic activity will continue to pick up over the coming years.
Ben O. de Vera
Philippines’ debt now 63.5 percent of GDP
The elevated debt-to-GDP level could put the country’s investment-grade credit ratings at risk, while putting pressure on the government’s narrower fiscal space.
Economists see strong GDP growth for Philippines in Q1
The government targets 7-9% GDP expansion on the back of further economic reopening by dismantling pandemic restrictions and mass vaccinations.
Philippines’ national debt hits new high in March weeks before Duterte steps down
The national debt has ballooned to P12.68 trillion in March 2022.
Philippine govt to borrow P200 billion more weeks before Duterte is gone
The Philippines has been sourcing bulk of its financing requirements locally to take advantage of flushing liquidity in the financial market.
Concern rising over slowing overseas Filipino workers remittance growth
An economist early this month said that remittances’ impact on consumer spending would be tempered by elevated inflation and depleting savings amid the prolonged Covid-19…
Lockdown’s impact: Unicef cites poor reading skills among Philippine kids
The Unicef report found less than 15 per cent of schoolchildren could read simple texts, in large part due to the school closure of more than 70 weeks during the pandemic.
Philippines ranked fourth globally in ‘crony capitalism’
In the latest 2021 index by The Economist covering 22 countries, also part of the top 10 were Ukraine, Mexico, India, Indonesia, Thailand and China.
Climate change makes food costlier in Asean: Oxford Economics
It is estimated that extreme weather conditions have been jacking up food costs by 6%.
Philippines braces for spillover impact of Russia sanctions
The World Bank said Philippine authorities should watch out for the extent that the Russia-Ukraine conflict will contribute to a further increase in energy and food inflation.