Top News
Strong loan growth, rising liquidity highlight economic stability – BSP
The Bangko Sentral ng Pilipinas (BSP) on Friday reported that the outstanding loans of universal and commercial banks (U/KBs) increased by 12.8 percent year-on-year in January, up from 12.2 percent in December 2024. On a seasonally adjusted month-on-month basis, these loans grew by 1.4 percent. The growth in loans signals robust credit activity, contributing to economic stability amid ongoing financial conditions.
Philippines jobless rate eases to 4.3% in January
The Philippines' unemployment rate decreased to 4.3 percent in January, down from 4.5 percent in the same period last year, as the economy continued to create more jobs to accommodate new entrants to the labor force, according to the Philippine Statistics Authority (PSA) report on Thursday.
Foreign arrivals in the Philippines declined 7% in February
Foreign arrivals in the Philippines declined 7 percent in February, totaling 541,008, as the number of tourists from South Korea—the country’s primary market—continued its sharp slide.
February inflation defies consensus at only 2.1 percent
Inflation in the Philippines for February defied expectations, slowing to a lower-than-anticipated 2.1 percent, according to the Philippine Statistics Authority (PSA). This marked a significant drop from January’s 2.9 percent and was below the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 2.2 percent to 3 percent.
DA eyes $1B World Bank loan for sustainable agriculture
The World Bank and the Philippine government are moving forward with a landmark agreement that could reshape the country’s agriculture sector. At a recent meeting, agriculture secretary Francisco P. Tiu Laurel Jr. and World Bank country director Zafer Mustafaoglu reviewed the progress of the Philippine Sustainable Agricultural Transformation (PSAT) loan program, with the goal of finalizing the USD1 billion loan agreement in July.
