Top News
Pres. Marcos Jr. signs P6.3 trillion budget but vetoes P194 billion in misaligned spending
Finance Secretary Ralph G. Recto on Monday hailed the P6.326 trillion budget for 2025 as the government's most potent tool to drive economic growth and deliver substantial benefits to Filipinos. Signed into law only today, the 2025 General Appropriations Act (GAA) marks a 9.7 percent increase from the previous year, representing 22 percent of the country's projected GDP.
FCDUs bolster foreign reserves as outstanding loans grow
Outstanding loans granted by the foreign currency deposit units (FCDUs) of Philippine banks reached USD15.75 billion, marking a 0.7 percent rise from the previous quarter and a 1.6 percent year-on-year increase.
PSE ends year strongest since 2019
The Philippine Stock Exchange (PSE) closed out 2024 on a high note, marking the first year-on-year gain since before the pandemic, as investors gained confidence despite external and internal challenges. The benchmark index, the PSEi, finished at 6,528.79 points, up 78.75 points or 1 percent from its 2023 close of 6,450.04 points, signaling a promising return to growth.
Foreign inflows shift in November, signaling investor confidence
Foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) saw a significant rebound in November 2024, with net inflows of USD96.59 million, reversing the previous month's USD529.68 million net outflows.
2Q 2024 external liabilities eased, but government and corporate debt pressure mounts
The country's external financial landscape showed mixed signals in 2Q 2024, with a 3.6 percent quarter-on-quarter easing in its net external liability position to P2.9 trillion, down from P3 trillion in 1Q 2024.
