Bank lending to the agricultural sector, historically low and problematic, showed promise in latest survey jointly conducted by the Bangko Sentral ng Pilipinas (BSP) and the Agricultural Credit Policy Council (ACPC), which works under the Department of Agriculture (DA).
Growth across the economy this year is forecast to remain below its five-year average of 6.6 percent, according to the sovereign credit watcher Standard and Poor's.
The economy expanded at the rate of 5.7 percent in the first three months of the year in terms of the gross domestic product (GDP), slower than various analyst forecasts averaging 5.9 percent during the period but quicker than the adjusted but scaled-back growth of only 5.5 percent a quarter earlier, the Philippine Statistics Authority (PSA) said on Thursday.
Output growth averaging only 5.5 percent in the December quarter last year was seen accelerated to 5.8 percent in the quarter ended March this year, according to analysts at Moody's Analytics
The country' local output expansion, measured as the gross domestic product (GDP), is forecast to accelerate to 5.9 percent this year from last year's 5.6 percent, the sovereign credit watcher Standard and Poor's said in commentaries published at its website.
The Aurora Pacific Economic Zone and Freeport Authority (APECO) will launch an investment mission to Spain and Portugal this November, aiming to attract European investors for key infrastructure projects ahead of the anticipated Philippine-European Union Free Trade Agreement (PH-EU FTA).
Meralco PowerGen Corp. (MGen) renewable energy unit MGreen and affiliate Terra Solar Philippines Inc., have rated the Nueva Ecija-Bulacan solar project as the largest operational solar facility in the Philippines.
Environment Secretary Raphael Lotilla has called on the Department of Environment and Natural Resources (DENR) to play a more assertive role in upholding the country's maritime rights in the West Philippine Sea (WPS), emphasizing its key position in supporting national sovereignty.
Smart Communications Inc., in partnership with parent firm PLDT Inc., is reinforcing its cooperation with the government by actively supporting the Bayanihan SIM initiative—a program led by the Department of Information and Communications Technology (DICT) extending mobile connectivity to geographically isolated and disadvantaged areas (GIDAs).