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Bank of America’s (BofA) recent report pointed out that the Philippines, along with China, Hong Kong, and Taiwan, are still struggling to catch up in tourism recovery compared to other parts of Asia, as tourist arrivals in…
MANILA, Philipines — The Philippine Statistics Authority reported Thursday that the number of unemployed Filipinos decreased in February to 1.8 million, down from 2.15 million in January. That brought the country’s unemployment rate to 3.5 percent, lower…
MANILA, PHILIPPINES — The Marcos administration doesn’t expect the peso to reach 58 per dollar this year anymore due to lower import forecasts. Now, the interagency Development Budget Coordination Committee (DBCC) predicts the peso will average between…
Finance Secretary Ralph Recto announced that there won’t be any new taxes for the rest of the Marcos administration. He emphasized the government’s focus on reducing unnecessary spending and enhancing revenue collection efficiency to improve its financial…
MANILA, Philippines — The local creative economy surged ahead in 2023, surpassing national output growth to reach a total value of P1.72 trillion. This sector not only generated more jobs but also made a significant contribution to…
MANILA, Philippines — The jobless rate in the country rose in January to 4.5 percent from December’s record low of 3.1 percent. This increase was accompanied by a decrease in the number of people looking for jobs.…
MANILA, Philippines — The government’s outstanding debt rose in January due to a weak peso and after the Marcos administration borrowed more from local creditors than what it paid for its maturing liabilities, the Bureau of the Treasury (BTr)…
MANILA, Philippines — Filipinos abroad sent a record amount of money back home in 2023 as remittances hit $33.5 billion, boosted by a stronger peso. This increase in the value of remittances helped households cope with high…
The increasing number of tech-savvy families in the middle and upper-income brackets is boosting the demand for leisure items in the Philippines, said BMI, a unit of the Fitch Group. This trend is expected to benefit the…
The Philippines’ consumption-driven economy is expected to benefit from a mix of lower inflation and a strong job market, according to BMI, a unit of the Fitch Group. Using 2010 as the base year, BMI is projecting…
MANILA, Philippines —The Marcos administration fell short of its growth goal last year due to significant inflation, resulting in a 5.6 percent gross domestic product (GDP) growth in 2023. This marked a slowdown from the 7.6 percent…
INQUIRER/ MARIANNE BERMUDEZ MANILA, Philippines — The country’s chief socioeconomic planner, Secretary Arsenio Balisacan of the National Economic and Development Authority (Neda), said that a 2023 economic growth slightly lower than the previous year’s 7.6 percent but near…
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