GDP expansion disappoints government at only 5.6% in 2023
The country's continued economic expansion in 2023, measured as the gross domestic product (GDP), eased sharply to only 5.6 percent in the final quarter and came even lower than the revised output expansion of 6 percent in the third quarter.
BPI targets opening 50 “phygital” bank branches within the year
The Bank of the Philippine Islands (BPI) targets opening within the year 2.5 times more phygital bank branches than it has at the moment as part of the larger goal of meeting the requirements of its digital clients.
Manila likely missed growth goal averaging 6% in 2023 – Moody’s
The Philippines is seen to have missed its goal of boosting local output expansion averaging at least 6 percent in 2023, having grown at a slower rate of only 4.9 percent in the fourth quarter last year, analysts at Moody's Analytics said on Monday.
Portfolio funds aggregating $13.13 billion fled the country in 2023
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.
Growth outlook seen quicker than 6% over three years
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.
