Economy

MANILA, Philippines – The Philippines received another credit rating upgrade under the Aquino government, this time from London-based Fitch Ratings that upgraded the sovereign rating by one notch from the previous “BB” to “BB+” following the country’s strong economic growth. This is the fourth upgrade received by the Philippines since President Aquino assumed office in…

The two legislative leaders of the country – Senate President Juan Ponce Enrile and Speaker of the House Feliciano Belmonte Jr. – agreed to place on the legislative agenda this year the amendment of restrictive economic provisions of the Constitution. If this enterprise succeeds, it will be a momentous achievement for the nation.

MANILA, Philippines (UDPATE) – Debt watcher Moody’s Investors Service has upgraded the Philippines’ sovereign rating, with a stable outlook, on the country’s improved fiscal position and sustained macroeconomic stability.

For almost two decades now, Philippine domestic output has been moving forward but has been behind the growth of total income. In 2010, national income was 1.33 times the size of real domestic output! Thus, more income gets into the economy but real production is considerably less than income by almost a third of income….

FINANCE Secretary Cesar Purisima said Sunday the economy would comfortably achieve 5-percent growth this year, which would be two or three percentage points off the government’s “aspirational target” of 7 to 8 percent.

DALI — If P-Noy thinks he has problems, he should consider the challenges of feeding and giving decent shelter to over a billion people and eliminating poverty in such a country.

MANILA, Philippines –  The Aquino administration will still strive to attain the seven percent to eight percent economic growth target this year by accelerating state spending, Finance Secretary Cesar Purisima said yesterday.

Consumer confidence continues its downward spiral in the second quarter with the Bangko Sentral ng Pilipinas’ (BSP) periodic confidence index (CI) falling to negative 24.2 percent from negative 23.1 percent the previous quarter.

The Philippine economy operates in the wide world of international trade in goods and in the movement of economic resources. The extent of this role in trade has risen and provides a promising future. This much can be discerned from the recently rebased national income series based the constant prices of 2000.

MANILA, Philippines – British-owned Standard Chartered Bank revised upwards its 2011 economic growth forecast for the Philippines to 5.7 percent from the original 5.4 percent.

Manila, Philippines – Filipinos are now more optimistic about their financial future but continue to get a low score in terms of financial intelligence quotient, a survey conducted by American banking giant Citibank.

A former Cabinet secretary of former President Joseph “Erap” Estarda yesterday said that with the present direction it is undertaking, the Aquino administration will find it hard to meet its target of 7 to 8 percent economic growth for 2011, stressing that President Aquino has no one to blame but himself for a dismal economic…

The two major components of total demand in any economy are consumption and investment. The rebased national income accounts using prices in year 2000 provides us with revised data to assess the real economic performance of the Philippine economy.

Underspending by the government and the slow-down in global trade constricted the economy to a lower growth in the now 2000-based GDP of 4.9 percent in the first quarter, from the election stimulated 8.4 percent last year. The industry driven growth [was] tempered by the lackluster trading activities and the second consecutive quarter of decline…

Critics of President Aquino said the economy is headed on a straight path to disaster after the first quarter growth skidded to 4.9 percent that was almost half of the 8.4 percent expansion a year ago while Malacañang put up a brave face, saying the economy can still achieve the seven to eight percent growth…

ECONOMISTS said the Philippines’ slowdown in the first quarter augurs weaker growth for the rest of the year.

MANILA, Philippines – The economy grew by a lower-than-expected 4.9 percent in the first quarter of the year due to a drop in global trade and government underspending on infrastructure.

Massive government underspending in the first quarter constricted economic growth to 4.9 percent against a record-setting 8.4 percent expansion in the gross domestic product (GDP) a year ago.

PHILIPPINE companies expect a continuing appreciation of the peso against the US dollar and a similar increase in bank interest rates in the second half this year, a Bangko Sentral survey says.

Underspending by the government and the slowdown in global trade constricted the economy to a lower growth in the now 2000-based GDP of 4.9 percent in the first quarter from the election stimulated 8.4 percent last year.  The industry driven growth benefited from the sustained growth of Manufacturing supported by Other Services, Real Estate, Renting…

Ladies and gentlemen, good morning. The first quarter performance of the economy is well within expectations. Real GDP growth moderated to 4.9 percent coming from a very high growth in 2010 that was due to a slump in the previous year. This growth is within the NEDA’s 4.8 to 5.8 percent forecast. However, with net…

Manila, Philippines – The Bangko Sentral ng Pilipinas (BSP) sees the country’s economy growing slower than expected this year due to the political tensions in the Middle East and North African (MENA) states as well as the disasters that struck Japan last March.

Manila, Philippines – The Aquino administration is working vigorously to improve the country’s business environment amid declining investor optimism brought about by unsettling global developments, presidential spokesman Edwin Lacierda said yesterday.

MANILA, Philippines – The Philippines is among 20 nations “least as peace” and is still “grappling with fetters to social and economic development of its citizens.”

MANILA, Philippines – Businessmen are less buoyant as the business optimism index fell for the second straight quarter under the Aquino administration.

Business sentiment is on a downturn with the periodic confidence index of the Bangko Sentral ng Pilipinas (BSP) at 31.8 percent in the second quarter from 47.5 percent in the previous quarter and 43.9 percent a year ago.

During 1998 to 2010 the economy underwent sustained but moderate expansion. However, structural changes affirmed the relative decline of industry and agriculture and the increasing domination of the economy by the services sector. Large unemployment in the labor sector typifies the problem of declining industries, especially manufacturing.

The record growth last year was upgraded to 7.6 percent from the initial estimate of a 7.3 percent gross domestic product (GDP) expansion that made President Aquino gloat about his achievements in the economic front although he assumed office only in the second half of the year.

THE Philippine economy grew by a faster 7.6 percent in 2010, according to the National Statistical Coordination Board (NSCB).

The Bangko Sentral said the latest increase in its borrowing rate will not derail economic growth in the Philippines this year.