Top News
Growth seen moderating to 5.4 percent this year
Local output growth measured as the gross domestic product (GDP) is forecast to ease further this year to 5.4 percent, lower than last year's growth print of 5.6 percent, analysts at the Manila unit of the Dutch giant ING said on Monday.
P160 billion more spent for public infrastructures in 11 months last year
The government already spent in 11 months P1.02 trillion of its commitment to spend P1.33 trillion in various public infrastructures in 2023, Budget Secretary Mina F. Pangandaman said on Sunday.
Foreign investment pledges in 4Q more than double to P349.45B
Foreign investments approved by various investment promotions agencies reached P394.45 billion in the fourth quarter, more than double the P173.61 billion in the year-earlier period even though a number of IPAs didn’t report any approvals during the period.
Overseas Filipinos in US, Middle East countries sent home $33.5 billion in 2023
Personal remittances from overseas Filipinos (OFs), which help drive consumption activities across the country, posted a new record high of USD3.6 billion in December 2023, up by 3.9 percent from the USD3.5 billion reported in December 2022.
BSP confirms forecast and maintains policy settings
The policy-making monetary board of the Bangko Sentral ng Pilipinas (BSP) on Thursday decided to keep its borrowing rate unchanged at 6.50 percent, confirming market forecasts. As at result, the interest rates on overnight deposits and lending facilities were kept at 6 percent and 7 percent, respectively.
