Speculative investments that flowed inward on net basis in 2022 reverted to a net outflow last year when interest-sapping high inflation helped make the Philippines one of the more costly places to make an investment in 2023.
The Philippines is seen growing its economy at a rate faster than six percent in terms of the gross domestic product (GDP) between this year and 2026, the financial information and analytics firm S&P Global recently reported.
The Philippines in 2023 is projected to post growth, measured as the gross domestic product (GDP), averaging lower than the official growth target of 6 to 7 percent to only 5.7 percent, according to the Asian Development Bank.
Foreign direct investments (FDI), useful both as a measure of and as vehicle for economic advancement, flowed inward on net basis in the first 10 months last year but stood 17.5 percent lower to only USD6.5 billion, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday.
Food-driven price pressures figure high in some of this year's inflation forecasts, such as that seen by the Metropolitan Bank and Trust Co. (Metrobank) which has retained its original 4.3 percent inflation print in 2024.
Australian home and lifestyle brand Anko on Wednesday launched its third and largest store in the Philippines at TriNoma Mall, Quezon City, marking a strategic expansion of its physical retail presence in the country.
The SM Store’s flagship advocacy program, Shop & Share, continues to strengthen its role in uplifting communities across the Philippines, reaching nearly 90,000 individuals—including students, women, farmers, and children—with essential retail items tailored to their needs.