Economy

MANILA, Philippines – More firms across all industry sectors have indicated expansion plans for the next quarter in line with the bullish outlook of businessmen on the ability of the domestic economy to recover from the global economic meltdown, a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.

The incoming administration would have to address domestic-industry concerns as the country faces an uncertain global economy. Countries all over the world are recovering from the impact of a global recession stemming from a financial crisis that began in the US about two years ago.

FILIPINOS as a whole expect our new president to govern in such a way that more jobs are created and the poor members of society are lifted from their condition. They expect Mr. Noynoy Aquino to make his administration corruption-free and his campaign slogan “Kung walang kurapsyon, walang mahirap” (No corruption, no poverty) a reality.

MANILA, Philippines – Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said yesterday the impact of the European debt crisis on the Philippines would be nil to minimal if the troubles are confined to Greece and do not spread to other parts of Europe and the world.

MANILA, Philippines – Businessmen continue to maintain a bullish outlook on the domestic economy due to higher spending brought about by the recently concluded May 10 elections, strong recovery in export earnings, moderate inflation, steady growth of overseas Filipino workers, and stable exchange rate.

MANILA, Philippines – Nearly half of Filipinos expect their lives to get better in the next 12 months, the latest survey by the Social Weather Stations (SWS) showed.

THE Asian Development Bank (ADB) warned the Philippines and other developing countries of a possible asset bubble due to a sharp rise in capital inflows and the appreciation of currencies in the region.

Part 1 of 2 The next Philippine president will have his work cut out for him.Apart from addressing new challenges that may arise during his or her term, the next administration will also have to tackle the old problems that are dragging down the country’s growth.

THE presidential election campaign of 2010 was absurdly easy, compared with the magnitude and complexity of the tasks the winner must now take up. President Gloria Arroyo leaves us a country with an opaque and incompetent government; rising poverty and inequality; and falling global competitiveness. Where does President-elect Benigno “Noynoy” Aquino 3rd begin?

THE members of the so-called Hyatt 10, who defected from the Cabinet of President Gloria Arroyo in 2005, on Wednesday outlined the agenda for the new administration under Senator Benigno Aquino III.

MANILA, Philippines – The country’s export earnings rose to a record high of 43.7 percent to $4.18 billion in March as the global recovery spurred demand for locally-made electronics goods.

SENATOR Benigno Aquino III, who headed for a landslide victory in this week’s presidential election, on Tuesday, renewed a campaign vow to go after President Arroyo and her cronies for any corrupt acts in office.

DESPITE a significant amount of foreign debt, the Philippines is less vulnerable to external investor sentiment turning sour as a result of Greece’s fiscal crisis, according to Standard and Poor’s (S&P).

Election spending should prop up domestic consumption that is crucial in stirring economic growth, according to the 2010 United Nations Economic and Social Survey (UN-ESCAP) Report of Asia and the Pacific stated.

MANILA, Philippines – The government expects the economy to grow anywhere from 3.8 percent to 4.8 percent next year, buoyed by a recovery in exports and imports, according to the latest estimates made by the Development Budget Coordination Committee (DBCC).

NONE of the above. That’s how many Filipinos responded recently when I asked who they planned to vote for in the May 10 presidential election. Their ambivalence seems equally directed at frontrunner Benigno Aquino III, his closest rival Manuel Villar, and Joseph Estrada, who’s third in surveys.

Introspective — By Romeo L. Bernardo Economic issues for next president Conclusion The author moderated the discussion by a panel of economists in the 9th Ayala Corporation-UP School of Economics Lecture Series last April 14. The panel was composed of former Economic Planning Secretary Philip Medalla, former Budget Secretary Benjamin Diokno, former Agriculture UndersecretaryArsi Balisacan,…

The country’s chronic reliance on remittances from Filipinos working overseas or the so-called overseas Filipino workers (OFW) resulted in the Philippines slipping eight notches in the ranking of countries based on growth opportunities.

MANILA, Philippines – Monetary authorities see merchandise exports and imports  accelerating at a faster pace this year after major markets led by the United States and  Japan were battered by the global economic crisis last year.

MANILA, Philippines – The Philippines dropped nine notches in the emerging opportunity market index due to the low projected economic growth for the country this year, the latest issue of the International Business Report (IBR) of global auditing from Grant Thornton noted.

SLOWLY but surely the Philippines is emerging from the worst global economic crisis in decades. A fresh whiff of good news came from the Bangko Sentral ng Pilipinas (BSP).

MANILA, Philippines – The Philippines needs to pour in more investments into infrastructure projects and develop other key sectors like creative industries and tourism, medical travel and retirement, to generate $75 billion in foreign direct investments (FDI) and 10 million jobs over the next 10 years.

MANILA, Philippines – The International Monetary Fund (IMF) upgraded anew the Philippines’ economic outlook but the country is still expected to be the laggard in terms of economic growth among Southeast Asian countries this year.

The SWS reported there are less Filipino families who feel poor, a level last seen 23 years ago even as hunger remains near record high. But before anybody starts jumping up and down for joy like chimpanzees in a banana plantation, read how SWS explained the seeming contradictory findings.

MANILA, Philippines – A wish list of priority economic reforms was handed over to Congress’ administrative units yesterday in a bid to lay down an agenda for incoming legislators.

IN order for the next president to get the Philippines back on track to achieving sustained and inclusive economic growth, the domestic investment rate must be increased to an annual rate of 25 percent from the current 15 percent, which is the lowest among its neighbor states.

MANILA, Philippines – The Asian Development Bank (ADB) has upgraded its growth forecast for the Philippine economy this year to 3.8 percent, from an earlier estimate of 3.1 percent, driven by increased private consumption on the back of robust remittances and election spending.

REGULATORS do not seek to quarrel with labor over the outsourcing policies of some of the banks supervised by the Bangko Sentral ng Pilipinas (BSP).

IF the Philippines is to compete in a globalized world and achieve sustainable growth in the medium term, World Bank Regional Chief Economist in East Asia and the Pacific Vikram Nehru said the country must invest heavily not just in infrastructure, but in human capital.

While bright spots are evident in the economy, social indicators for the Philippines remain weak underlined by the hunger incidence that reached record highs late last year, the World Bank (WB) said in a report on East Asia released yesterday.