Economy

Two incendiary changes this year helped jump-start the Philippine economy — down but not out — as it reeled from the global financial meltdown that began in the US in 2007.

MANILA, Philippines –  The economy continued to show signs of recovery – as seen in the positive performance of the composite leading economic indicators or LEI-but growth is slowing down, the National Statistical Coordination Board (NSCB) said yesterday.

The Aquino III administration’s objectives of achieving 7-8% growth, reducing the budget/deficit to GDP ratio to 2% by 2013, and not reforming the tax system are internally inconsistent. Achieving two objectives may be done simultaneously but not all three. Achieving inclusive growth-oriented fiscal consolidation requires reforming the tax system. And reforming it now rather than…

More than one in four adults in the Philippines are jobless or are looking for more work despite strong economic growth this year, the government said Wednesday. The October unemployment rate stood at 7.1 percent, unchanged from a year earlier but up slightly from July’s 6.9 percent, according to the latest quarterly report from the…

MANILA, Philippines—For whatever it is worth, I have a vision for the Philippine economy for the year 2020, a decade from now. I do not claim that it is as an accurate a vision as the term 2020 connotes physically. It comes from a whole set of judgments I am making about present economic and…

MANILA, Philippines – Multilateral lender International Monetary Fund (IMF) reiterated that the local banking system remained resilient after the Bangko Sentral ng Pilipinas (BSP) managed to put in place reforms aimed at containing the effects of the global financial crisis.

7 industries to play key role in economic growth MANILA, Philippines—The joint Foreign Chambers will be presenting on Monday a roadmap that it believes will set the Philippines on the path to economic progress.

CONSUMER SENTIMENT continues to improve, the Bangko Sentral ng Pilipinas (BSP) yesterday claimed, with a quarterly confidence index (CI) at a four-year high for the last three months of 2010.

Multilateral lender International Monetary Fund (IMF) on Friday upgraded to 5 percent its 2011 growth forecast for the country’s gross domestic product (GDP) from an earlier forecast of 4.5 percent.

MANILA, Philippines – The Asian Development Bank (ADB) is forecasting the Philippine economy to grow by a slower 4.6 percent in 2011, following an estimated 6.8 percent growth rate in its gross domestic product (GDP) this year.

HONG KONG (AFP) – East Asia will post slower growth next year due to a wobbly US recovery, the Asian Development Bank (ADB) warned Tuesday, adding that greater exchange rate cooperation could help safeguard the region.

THE Asian Development Bank (ADB) has upgraded its economic growth forecast for the Philippines this year, but warned of a slowdown next year because of weaker external demand.

THE ECONOMY could grow by a higher 5.0-5.5% next year, research firm GlobalSource Partners, Inc. said in a new report where it adjusted its 2011 forecast from 4.7% previously.

MANILA, Philippines – UK-based Standard Chartered Bank sees the country’s economic growth slowing down next year on the back of overheating concerns after posting a strong growth this year.

MANILA, Philippines – The country’s financial system remained sound and stable amid the strong capital inflows being experienced by emerging markets including the Philippines, monetary authorities said over the weekend.

The Philippine economy expanded at a slower pace in the third quarter mainly because of the weak agriculture sector and lower government spending, the National Statistical Coordination Board (NSCB) announced on Thursday.

MANILA, Philippines (UPDATE) – The local economy expanded by 6.5% in the third quarter from a year ago, below market expectations and slower than the growth in the first half, data from the economic planning agency showed.

MANILA, Philippines—Businesses in the country are planning to expand operations in 2011 as they remain optimistic about the economy’s ability to follow through on its recovery this year from the global crisis in 2009.

MANILA, Philippines—NEDA Chief Cayetano Paderanga has been quoted as saying, “for 2011 to 2016, we are targeting a higher annual growth path that will bring us above seven percent.”

MANILA, Philippines – Business confidence in the country reached an all-time high in the fourth quarter on expectations of sustained economic improvement and strong domestic demand, fueled in part by the steady stream of remittances from overseas Filipino workers and higher capital inflows.     

MANILA, Philippines – The Philippines will likely grow by 6% this year, the Organization for Economic Cooperation and Development (OECD) said, a pace at the high end of the government’s target but lower compared to outlooks for 5 Southeast Asian neighbors.

G20 MEMBERS have continued to implement protectionist measures, affecting countries such as the Philippines, despite promises to keep markets open amid weak economic recovery, a London-based think tank said.

MANILA, Philippines – The Philippines earned a spot among the world’s 10 most-improved economies in easing trade across borders in 2009 and 2010 by improving its electronic customs systems, IFC and the World Bank announced.

The eyes and ears of the world are now on Korea for the G20 summit on Nov. 11-12 in Seoul.  What is the Philippine interest in this event?  At first glance, there is not much to indicate that the Philippines is represented, much less invited.  The president of neighboring Indonesia regularly sits at the summit. …

PHILIPPINE share prices set a new all-time high for the third consecutive day in anticipation of better-than-expected corporate earnings. At the Philippine Stock Exchange (PSE), the local composite index rose 15.44 points, or 0.35 percent to 4,397.3, just less than three points shy of the 4,400 mark. The broader all-shares index added 17.13 points, or…

Economists believe that the country’s gross domestic product may continue to accelerate at a surprising growth as inflation remains slow. In its quarterly report, “Philippines: Back to Normal,” New York-based think tank Global Source Partners projected that the country’s GDP may rise to 6.8 percent from its previous forecast of 6 percent.

MANILA, Philippines – The country slipped further in the global ranking of economies on the “ease of doing business” despite recent efforts to simplify procedures for acquiring permits.

HERE is good news. The 3rd Quarter 2010 Social Weather Survey (SWS), conducted from September 24to 27, found that 38 percent of Filipino adults expect their personal quality of life to improve in the next 12 months. SWS calls these segment of the population the “Optimists.”

NOT TOO LONG ago, Indonesia was Southeast Asia’s basket case. Within the region, it was the hardest hit by the 1997-1998 financial crisis and subsequently plunged into a cycle of political and social unrest and economic decline. Today, however, under its current political and economic setup, Indonesia has attained levels of stability and prosperity few…

THE Joint Foreign Chambers (JFC), through its industry champions, presented a snapshot of its 400-page recommendations for the seven winning sectors that it believes can deliver to the country $75 billion in foreign direct investments (FDI) and generate 10 million jobs in 10 years.