Economy

IT MAY be rather late to do a yearender, but much of what I’ve read so far tend to be either fulsome (sycophantically so, actually) or excessively critical. So this is going to be a pluses-and-minuses review, albeit partial, of both the economy and the polity, with the time period under review including the first…

THE PHILIPPINE economy is headed for banner growth this year, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) yesterday claimed, with the stock market set for new highs, interest rates to stay low and inflation to remain benign.

THE PHILIPPINES must sustain its momentum and build on last year’s strong economic performance to boost its credit standing, Fitch Ratings yesterday said.

Senate blue ribbon chairman Teofisto Guingona III said the perception that Filipino banks have been accommodating deposits from illegal transactions “affect investors’ perception on whether or not we have a safe banking system.

ADDITIONAL domestic regulatory adjustments may be needed in the near term should the US Federal Reserve discontinue the third phase of its growth-boosting asset-purchase program, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said on Sunday.

After two and a half years, President Aquino’s “Kung walang corrupt, walang mahirap” mantra, loosely translated as good governance and good economics, has gained traction. Reason to smile, but not yet to celebrate.

CONSUMPTION and infrastructure spending can sustain the country’s stellar growth well into next year, economic managers claimed. Given the momentum from three straight quarters, and with the July to September period particularly surpassing expectations, Budget Secretary Florencio B. Abad said the outlook for the rest of the year was bright and would extend to 2013.

MANILA, Philippines – The government is prepared to sustain the country’s economic growth which reached a record 7.1 percent in the third quarter, President Aquino told a gathering of his party-mates in Cebu City Friday night.

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Better-than-expected third-quarter economic growth will likely boost revenue collections for the last three months of the year but base effects may dampen primary spending growth, the research arm of Citigroup Global Markets, Inc. said.

IN ADVANCE of the arrival of James Robinson (Harvard), coauthor with Daren Acemoglu (MIT) of “Why Nations Fail,” the World Bank sent me a copy of this bestseller. And I am in good company—with Michael Spence, 2001 Nobel Laureate in economics—when I say that it is a book that is hard to put down once…

Most everyone agrees that the announcement this week of a 7.1 percent growth in the country’s gross domestic product (GDP, or the sum total of goods and services produced by a country) for the third quarter was an unexpected surprise, one that bodes well for the Philippines’ short to medium-term prospects.

MANILA, Philippines – The third quarter growth of the economy by 7.1 percent was a good sign but it must be backed by adequate government policies to ensure the development and improvement of the people’s welfare, economist Solita Monsod said Thursday.

ANALYSTS have moved to revise their growth outlooks for the Philippines following surprisingly strong third-quarter results. Strong growth seen boosting gov’t revenuesQ3 surprise prompts growth forecast revisionGrowth tops forecastsMedium-term growth seen below targetCiti sets 2013 GDP forecast of 5.3%

MANILA, Philippines — If the high unemployment rate and poverty incidence were to serve as basis for determining economic growth, government’s claim that it accelerated to 7.1 percent for the third quarter of this year sounds incredulous, militant lawmakers said Thursday.

MANILA, Philippines – The country’s surprising economic growth isn’t just the achievement of the administration of President Benigno Aquino III. It is also the accomplishment of the Arroyo administration.

Tetangco says the confluence of nimble monetary policy, steadfast fiscal action, and swift government responses sustained the economy on path of high growth and stable inflation. With the country’s gross domestic product (GDP) again growing above forecasts in the third quarter, Bangko Sentral ng Pilipinas Governor Amando Tetangco said their current policy stance “appears to…

THE PHILIPPINE economy has to grow vigorously and on a sustained basis by 7 to 8% for a decade in order to make a difference in the lives of poor Filipinos. But it is important that all cylinders should be firing simultaneously — agriculture, construction, manufacturing, mining, housing, and other service sectors. Yet, agriculture is…

Global investment bank JP Morgan has picked the Philippines as one of its three most-favored stock markets for 2013, marking the fourth straight year that the local bourse is expected to outperform most of its regional peers.

The Philippine economy must post an average annual growth rate of 6.7 percent for the per capita income to increase by two-fold after 15 years, National Economic and Development Authority (NEDA) director general Arsenio Balisacan said.

THE PHILIPPINE economy could grow by 5.3% next year, Citigroup, Inc. yesterday said, as public spending and low interest rates support consumption and investment.

PHILIPPINE GROWTH will likely be capped at 6% over the next two to three years given the weak global economy, economists yesterday said as they urged the government to boost development via other sources.

Invest in initiatives that help low-income groups Tycoon Jaime Augusto Zobel de Ayala has urged private enterprises to join the bandwagon on “inclusive growth,” saying business initiatives that help address inequality in the country can be profitable.

Cristobal said industrial roadmap finished and Industry Development Council revived by first quarter of next year. At least three basic industries – iron and steel, petrochemicals and copper – may start a sustained industrialization of the economy, and consequently increase the share of manufacturing to 30 per cent of GDP by 2016.

THE MANAGING Director of the International Monetary Fund (IMF), Ms. Christine Lagarde, visited Manila last week. The press conference on Nov. 16 and press release available on the IMF Web page covers the Managing Director’s views on the Philippines and discussions with the country’s leadership and senior government officials. She also had the opportunity to…

MANILA – In October, the government and the country’s largest Muslim rebel group agreed a preliminary deal that may end a 40-year conflict that has killed more than 120,000 and displaced 2 million.

MANY ARE unhappy at how economic growth around the globe, especially in dynamic Asia, is leading to widening gaps between the rich and the poor. The Asian Development Bank notes that out of 28 Asian countries with comparable data, 12 have seen worsening inequality—and these account for over 80 percent of developing Asia’s population. In…

DELAYS IN the implementation of government programs and projects, not higher revenues, explain the lower-than-planned budget deficit. The Philippine government has targeted a full year budget deficit of 279 billion or 2.6% of gross domestic product (GDP). From January to September 2012, the programmed deficit is 183.3 billion. Yet, the Aquino administration underachieves once more,…

Budget Secretary Florencio Abad on Tuesday said the recent upgrade by Moody’s Investors Service of the Philippine credit ratings could lead to government improved spending.

MANILA, Philippines – Moody’s Investors Service raised yesterday the Philippines’ sovereign credit rating to one notch below investment grade, citing the country’s strong economic prospects and stable financial system.