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 Asian Eye Institute (AEI) recently welcomed Dr. Ike Ahmed, the world’s most influential ophthalmologist in 2024 (as recognized by The Ophthalmologist magazine), for a high-level research collaboration with Dr. Robert Edward Ang, AEI’s head of Cornea and Refractive Surgery Services and chief of its Research and Training Center.
The Bangko Sentral ng Pilipinas (BSP), through its Legazpi Branch, is actively addressing the cash needs of banks in Masbate following the impact of Typhoon Opong.
The Government Service Insurance System (GSIS) announced its readiness to assist members and pensioners in Bogo and other quake-hit areas in Cebu, following the recent magnitude 6.9 earthquake that caused structural damage and disrupted daily life.
EEI Corp., one of the Philippines’ largest construction firms, has appointed Paul C. Visaya as head of its Infrastructure Division, effective this October. The move is part of a broader restructuring of the company’s organizational framework.