New, higher taxes pitched to incoming Marcos Jr. admin to repay Duterte’s Covid-19 debts
As of the first quarter of 2022, the debt-to-gross domestic product ratio stood at 63.5 percent, the highest since 2005.
ECONOMIC AFFAIRS
Saudi Arabia says finalising extension of $3 billion deposit to Pakistan
Pakistan is in dire need of external finances, hurt by high inflation, reserves declining to as low as less than two months of imports and a fast-weakening currency.
Hawkers in Malaysia feeling the heat of chicken shortage ahead of export ban
While the government has stipulated a price cap of RM8.90/kg on chicken, traders have hiked their prices recently despite the risk of being fined if caught.
Competition Commission investigation will cover all in the poultry industry: Minister
The Malaysia Competition Commission will conduct investigations of allegedly engaged in anti-competitive agreements and/or abuse of dominant position to influence market prices.
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.
Malaysia places temporary export ban on chickens
Beginning June 1, the export of chickens – now numbering 3.6 million a month – will be stopped until the price and supply stabilise.
Pakistan finance minister rules out removal of fuel, energy subsidies ahead of IMF talks
The IMF has made the resumption of its programme with Pakistan, along with a $2 billion expansion, conditional on the reversal of these subsidies.
Malaysia’s cabinet to discuss high cost of living, chicken supply
The Malaysian PM also said the government would also look at abolishing other Approved Permits to address the issues of food supply and prices.
Global measures to tackle inflation may cause recession, but must be taken: PM Lee
The Singapore Prime Minsters also said that central banks have been forced to tighten their monetary policy as inflation has risen, which may negatively affect economic growth and…
Govt has lost credibility and asking us for help after IMF debacle: Former finance minister
The comments come as the coalition government has ongoing talks with the IMF over the release of a $1 billion tranche, a process slowed by concerns about the pace of economic…