ADB projects below-target 5.7% growth for the Philippines in 2023
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.
FDIs flowed inward over 10 months in 2023 but sharply lower to only USD6.5 billion
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 price pressure seen still elevated in Metrobank inflation forecast
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.
December inflation proves lower than forecast and slows to only 3.9 percent
Inflation, or the rate of change in prices, slowed to only 3.9 percent in December from 4.1 percent the previous November, according to the Philippine Statistics Authority.
GoTyme Bank rounds 2023 with P10 billion in deposits
"A shoutout to all you wonderful humans out there. Domo arigato to our GoTyme Bank colleagues for reaching 2 million customers and 10 billion pesos in deposits in 14 months!" the executive at one of the country's largest conglomerates said in his social media account, LinkedIn.
