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MANILA, Philippines — Government debt declined to P15.55 trillion by the end of August, according to the Bureau of the Treasury (BTr) on Tuesday. The decrease was largely due to the revaluation effect of the peso’s appreciation…
Government debt reached a new high of P15.69 trillion at the end of July, mainly due to new government securities and project loans. The increase was slightly offset by a stronger peso, according to the Bureau of…
The Philippine Statistic Authority (PSA) said that a Filipino family of five members only needed nearly P14,000 per month to meet their minimum basic food and nonfood requirements last year. In its 2023 official poverty statistics, the…
The country’s statistics agency admitted that the daily food poverty threshold of P63.87 per person is ‘insufficient.’ It also stated that it will review the methodology for calculating poverty and food thresholds next year. “It’s really insufficient…
Foreign investment pledges approved by investment promotion agencies (IPAs) jumped by 220.07 percent in the second quarter compared to the same period last year, showing a strong rise in investor confidence, according to the Philippine Statistics Authority…
Japan’s Rating and Investment Information Inc. (R&I) has upgraded the Philippines’ credit rating to ‘A-’ with a stable outlook, citing strong economic growth and a better fiscal position. This is the country’s second ‘A-‘ credit rating, following…
The Philippine economy grew by 6.3 percent in the second quarter, thanks to increased government spending and strong investments, which helped counter the effects of high consumer prices on household spending. This growth is an improvement from…
The Philippine economy may grow by 7.1 percent in the second quarter due to easing inflation and mid-term election spending, the Bank of the Philippine Islands’ (BPI) lead economist said. This exceeds the government’s annual growth target…
MANILA, Philippines — The Bureau of Internal Revenue (BIR) on Tuesday said electronic marketplace operators such as Shopee and Lazada have started collecting the withholding tax on online sellers or merchants using their platforms. “Electronic marketplace operators…
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