Economy
Philippine budget deficit widens sharply in July
The Philippine government’s budget deficit widened sharply in July as spending surged to support major programs and infrastructure projects, outpacing a modest increase in revenues.
Manufacturers seek faster customs as peso weakens
Philippine manufacturers are pressing the government to cut non-tariff barriers and administrative delays as a weaker peso pushes up the cost of imported raw materials, machinery, and fuel.
BIR e-invoicing to ease compliance, strengthen revenue collection
The Bureau of Internal Revenue (BIR) is pushing electronic invoicing as a digital overhaul that could make tax compliance easier for businesses while giving the government better tools to track transactions and collect revenues.
Philippine trade deficit widens sharply in July
The Philippines’ trade deficit widened sharply in July as imports continued to outpace exports, with the country’s merchandise trade gap expanding by nearly 35 percent from a year earlier, according to the Philippine Statistics Authority.
UP study backs Maharlika fund for chip industry
A University of the Philippines study is urging the government to consider using the Maharlika Investment Fund (MIF) to finance a dedicated semiconductor development fund that could help the Philippines move into higher-value segments of the global chip industry.
