Economy

SINGAPORE — China may be slowing but its investment-led economic strategy still serves as a good model for countries such as the Philippines that want to boost growth and pull more people out of poverty, an International Monetary Fund (IMF) official said.

WORLD TRADE Organization (WTO) member economies last week called on the Philippines to create a more level and open business environment for foreign players.

CLARK FIELD, Pampanga—Owing to the fragile US economy, publicly listed BDO Unibank Inc. (BDO) estimates that the country’s gross domestic product (GDP) may not exceed 5 percent this year.

WEAK spending, despite improvements in tax takes, continues to hobble the country’s growth, the World Bank said. In a report released on Monday and titled “From Stability to Prosperity for All,” the world’s largest lender said that while the “Philippine economy grew by 3.7 percent in 2011, broadly in line with its neighbors,” the growth…

MANILA— The World Bank said on Monday the Philippines needs to accelerate reforms to allow for sustained economic growth above 5 percent a year to improve the lives of the poor and catch up with its Southeast Asian neighbors.

MANILA, Philippines – The World Bank expects the Philippines to grow below the average for the Association of Southeast Asian Nations (ASEAN), with economists pointing to the need for increasing tax revenues, particularly from excise taxes on liquor and tobacco.

All elements are in place, says former NEDA chief For the Philippines, 2012 does not mean the end of the world as predicted by the ancient Mayans, but could instead herald the beginning of a much-awaited economic takeoff, according to former Socioeconomic Planning Secretary Cielito Habito.

MANILA, Philippines – The Philippines rose eight notches to 107th from last year’s ranking of 115th and garnered an Economic Freedom Score (EFS) of 57.1 this year, an improvement from the country’s previous score of 56.2.

There are signs that the Philippine economy is headed toward brighter directions. What are these and will that brighter future be attained? “The signs.” First, despite the desolate overall world economic conditions at the moment, the same stormy clouds for the industrial and more developed economies are creating conditions that favor the Philippine economy.

The improved performance of the labor market in 2011 bolsters the optimism for a better economy this year, according to Socioeconomic Planning Secretary Cayetano Paderanga Jr. “Last year, the country generated more employment from the previous year. Employment level rose by 3.2 percent or 1.156 million, largely on the strength of the continued growth in…

ALTHOUGH external factors like high fuel prices, slow economic recovery in the United States and the European debt crisis contributed to the 3.7 percent Philippine gross domestic product growth (GDP) in 2011, it is the export sector, government underspending and higher food and fuel food prices that became a major drag to the decline in…

Expansion of the domestic economy is expected to rise in the first half of the year, a central bank official said citing results of the first quarter 2012 Business Expectations Survey (BES).

GUARDED OPTIMISM: The Bangko Sentral ng Pilipinas enters 2012 with guarded optimism even while other countries grapple with their own economic difficulties.

The Philippine economy can possibly grow by 7 percent to 10 percent in the next 10 years, a leading economist said in a forum on Wednesday. In his speech during the Asia CEO Forum held at the The Peninisula Manila Hotel in Makati City, Dr. Bernardo Villegas said that the Philippine economy is reaching its…

MANILA — The Philippine economy is projected to grow more than 4.6 percent in the first quarter of the year mostly because of the increased government spending, the National Economic and Development Authority (NEDA) said Wednesday.

Legazpi City—Albay Governor Joel Salceda said the economy will post a 5.7 percent growth rate in the first quarter, a leap from the 3.7% level last year which was less than half of 2010’s 7.6%.

MANILA, Philippines – President Aquino’s “inordinate focus” on convicting Chief Justice Renato Corona and his vindictiveness are already taking their toll on the economy and urgent legislative work, lawmakers said yesterday.

MANILA, Philippines – Malacañang justified yesterday the country’s 3.7 percent economic growth, saying that the government made investments in social services and the administration would implement measures to further improve the economy.

The administration of President Aquino was chided yesterday by a lawmaker for the dismal performance of the country’s economy in 2011. Posting a mere 3.7 percent growth in gross domestic product (GDP) compared to 7.6 percent the year before, the economy, according to Zambales Rep. Ma. Milagros “Mitos” Magsaysay, was mishandled because of the administration’s…

The economy turned in a weak 3.7 percent growth for the entire of last year from a 7.6 percent expansion the previous year mainly as a result of sluggish activities in the last two quarters when President Aquino was hotly pursuing his political adversaries former President Gloria Arroyo and Chief Justice Renato Corona instead of…

MANILA, Philippines – The Philippine government failed to meet the foreign direct investment (FDI) target set by the Joint Foreign Chambers (JFC) in their Arangkada Philippines roadmap last year.

Believe it or not, P-Noy’s chief economist thinks the economy is moving satisfactorily. Dr. Cayetano Paderanga Jr., who got his PhD in Economics from Stanford and is taking his second turn at NEDA, talked to Global Source, a New York-based think tank. There are rumors that he is planning to quit soon but he nevertheless…

MANILA, Philippines – The International Monetary Fund (IMF) has cut its economic growth forecast for the Association of Southeast Asian Nations (ASEAN 5) due to the escalating debt crisis in the euro zone.

Growth in emerging and developing economies is expected to slow in the medium term owing to the worsening external environment and a weakening of internal demand, the International Monetary Fund (IMF) said on Tuesday.

EMPLOYMENT GROWTH in the Philippines has remained positive but “volatile” in 2011 amid weather disturbances that caused fluctuations in economic growth, the International Labor Organization (ILO) said in a report, as it challenged government to push for growth that will create jobs and increase productivity.

The much-touted Public-Private Partnership program did not take off last year. I put it down to “bureaucratic naiveté”. A new Cabinet whose expertise, in the main, was in successfully running private businesses. They had not come up against the lega l hoopla and bureaucratic inertia that pervades the Philippine government. Nor be involved in ensuring…

MANILA, Philippines – As it forecast Philippine growth at 4.8 percent this year, the Asian Development Bank (ADB) gave some advice on how the country can address the challenges that a global downturn may bring.

The National Statistical Coordination Board (NSCB) expects a positive outlook for the Philippine economy this year as its composite leading economic index (LEI) continued to improve.

The World Bank (WB) reported that the Philippine economy is projected to grow by 4.2 percent this year mostly because of higher remittances from overseas Filipino workers and renewed public spending.

The Trade Department is keeping an exports target of $80.2 billion this year despite the drop in shipments in 2011 and the possible impact of a bill in the US Congress on the business process outsourcing industry in the Philippines.