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NG foreign currency deposits push end-March GIR to $104 billion
The country’s gross international reserves (GIR), an indicator of capacity to pay for maturing foreign currency obligations, based on preliminary data, rose to USD104 billion as of end-March 2024 from the end-February 2024 level of USD102. billion.
NG debt rise in February to P15.18 trillion on domestic borrowing
The National Government (NG) posted outstanding debt of P15.18 trillion at the end of February, higher by P388.51 billion from January due mainly from fresh domestic debt issuances.
BTr sets double auction on Monday due to midweek holidays
Malacanang declared April 10 as a holiday to celebrate the Feast of Ramadan, while April 9 is a regular holiday because it is the National Day of Valor—a day to commemorate the heroism of those who fought the country’s freedom and independence.
DBCC downgrades growth target for 2024, 2025; inflation, FX targets stay
The Development Budget Coordination Committee lowered the country's growth or gross domestic product (GDP) to a target ranging this year from 6 percent to 7 percent range from the previous 6.5 percent to 7.5 percent while that for 2025 was narrowed to 6.5 percent from 7.5 percent from 6.5 percent from 8.0 percent.
PSA downgrades 2023 GDP to 5.5% on lower services, import numbers
The Philippine Statistics Authority on Thursday downgraded the growth estimate for 2023 to 5.5 percent from 5.6 percent.
