Economy

SENATE President Juan Ponce Enrile gives the two-year-old Aquino administration a passing grade, saying the economy is performing well based on the stability of the exchange rate, inflation and interest rates. He says that while employment generation has been sluggish, that is due in part to the economic problems of industrialized countries, including some members…

THE PHILIPPINES’ 2012 growth forecast could be raised by the Asian Development Bank (ADB), with its country chief noting improved investor sentiment, recent ratings developments and fiscal gains.

Perceptive observers of economic development discussion in the country will notice that these days, there is much reference to “inclusive” development. This terminology is only of recent origin.

As the world leaders and the International Monetary Fund gather in Los Cabos, Mexico on Monday fretting on Europe’s uncertain future and trying to inject new confidence in the deteriorating global economy, a Filipino economic team, sans the NEDA Director General, is touring the United States on what is called a non-deal road show. The…

DAVAO CITY—Unlike developed economies, the Philippines has a current and definite advantage: a steady supply of a young work force capable of sustaining its economic growth, the Bangko Sentral ng Pilipinas (BSP) said.

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MANILA, Philippines – Investment banks and think tanks upgraded their economic growth forecasts for the Philippines after it posted a stronger-than-expected gross domestic product (GDP) growth of 6.4 percent in the first quarter of the year. New York-based think tank Global Source Partners upgraded the country’s GDP growth forecast to five percent instead of 4.5…

Manila, Philippines – President Aquino assured the public yesterday that his government was committed to ensure inclusive growth benefiting all sectors as the country’s gross domestic product grew 6.4 percent in the first quarter of the year.

…Tops Asian average of 3.7%… The Philippine economy grew 6.4 percent during the first quarter, the highest in Asia except for China. National Economic and Development Authority (NEDA) director general Arsenio Balisacan said growth was high enough to generate 1.1 million new jobs for the quarter.

Asean reaffirms plan on economic integration The economic forecast for many countries these days ranges from shaky to dismal, especially among industrialized countries. Yet, the Philippines and Indonesia stand out as rare examples of emerging Asian economies with positive rating outlooks.

THE PHILIPPINE ECONOMY grew by 6.4% in the first quarter — way above market expectations as well as the official forecast — amid a “revitalized” service sector, higher exports and a jump in state spending. Growth in real gross domestic product (GDP) was the fastest since the 7.3% seen in the third quarter of 2010.…

MANILA, Philippines (Xinhua) – The Philippine economy is seen to grow 4.2 percent this year on back of strong domestic demand, investment, and increased government spending amid a global slowdown, the World Bank said Wednesday.

Islamabad—Despite visible economic slowdown, the United Nations has informed the world that Asia-Pacific part of the globe would remain a strong anchor of global economic stability, a message that would surely take tycoons optimism to new heights amid maddening entrepreneural competitions. “Demand for its exports declines and capital costs rise” in Asia-Pacific region but despite…

In an ironic and historic twist, the trade union movement and the Asian Development Bank (ADB), which normally do not see eye to eye on development issues, suddenly found themselves united on one: reversing the industrial hollowing out of the Philippine economy. The ADB wrote that the Philippines has an ampaw economy whose growth cannot…

THE ECONOMY could “surprise many” by growing 5% or even higher in the first quarter, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) have projected.

SINGAPORE — Asia’s economic growth probably troughed in the first quarter but a bounce-back may be muted, a Reuters poll showed.

THE Philippines is “on track” in achieving an ambitious growth target for 2012 “in light of the very good news in the economic front,” Secretary Gregory Domingo of the Department of Trade and Industry (DTI) said on Thursday.

MANILA, Philippines – Multilateral lender International Monetary Fund (IMF) yesterday said the Philippines would be the laggard in economic growth among the Association of Southeast Asian Nations-5 (ASEAN-5) this year and in 2013.

MANILA, Philippines – Multilateral lender International Monetary Fund (IMF) yesterday said the Philippines would be the laggard in economic growth among the Association of Southeast Asian Nations-5 (ASEAN-5) this year and in 2013.

MANILA, Philippines – If only the Philippines can tap all of its vast gold resources and reserves, poverty would be completely eradicated, according to the National Statistical Coordination Board (NSCB).

MANILA, Philippines – After a lackluster 3.7% economic growth in 2011, the Philippines would bounce back this 2012 with a 4.8% growth, the Manila-based Asian Development Bank (ADB) projected.

MANILA, Philippines – Developing Asia’s rapid growth in recent years has given rise to a widening rich-poor divide that threatens to undermine the region’s growth and stability, but governments can address the problem via shifts in spending priorities, the Asian Development Bank said.

THE PHILIPPINES will likely recover from last year’s sluggish growth amid increased public spending, investments and private consumption but “longstanding structural weaknesses” remain hurdles to achieving inclusive growth, the Asian Development Bank (ADB) yesterday said.

ALTHOUGH the mining industry’s contributions to economic growth have been cited as among the largest, the industry’s full impact particularly on employment and the domestic economy continues to be limited, according to an assessment made by the National Economic and Development Authority (Neda).

Higher public spending is key to sustained economic growth, said former Budget Secretary Benjamic Diokno. This spending he added could spur the development of the domestic market, ensure jobs for new graduates, and revive the country’s manufacturing sector.

Dr. Bernardo Villegas, one of the high priests of dead-end economics, on March 24 pronounced himself “more bullish than the government in forecasting a GDP growth of 6 to 7 percent for 2012” (Manila Times, “Geared toward faster growth”).

MANILA, Philippines – Zurich-based Credit Suisse Group hiked anew its economic growth forecast for the Philippines, this time raising next year’s gross domestic product (GDP) growth on the back of improved political stability and the take off of the government’s major infrastructure program.

UBS Investment Research projects Philippine economic growth at 3.3 percent in 2012 and will further grow to 4.7 percent in 2013. Paul Donovan, UBS deputy head of global economics, said the 2012 projection is still below the considered good growth level of 3.7 percent and .3 percent is lower than general indications/consensus.

BRAGGING that his administration has made headway against corruption and that the Philippines is no longer the “sick man of Asia,” President Benigno Aquino 3rd on Tuesday urged businessmen to put their money in three sectors—infrastructure, agriculture and tourism.

MANILA, Philippines – An upbeat President Aquino yesterday hinted that the Philippines might be able to get more upgrades from credit rating agencies this year, owing to significant improvements in the economy and brighter infrastructure prospects.