The Philippine Statistics Authority (PSA) has revised estimates for the country’s economic performance, covering both 2023 and 2024, with updates on quarterly and annual figures by industry and expenditure.
Emerging markets and developing economies like the Philippines were to collectively post output growth measured as the gross domestic product (GDP) averaging 4 percent this year, but higher next year to 4.2 percent, according to the International Monetary Fund (IMF).
The government has retained the projected local output growth measured as the gross domestic product (GDP) at 7.6 percent in the third quarter of 2022, according to National Statistician Dennis Mapa.
TikTok Shop and GoTyme Bank on Thursday launched TikTok Shop Loans, a fast and flexible financing service tailored specifically for micro, small, and medium enterprises (MSMEs) in the Philippines.
The Department of Energy (DOE), in partnership with USAID-Energy Secure Philippines and the Hawaii Natural Energy Institute, officially handed over three mobile energy systems (MES) to the Armed Forces of the Philippines (AFP) to enhance energy access during critical operations and emergencies.
The other financial corporations (OFCs), a key segment of the Philippine financial system outside traditional banks, insurers, and pension funds, expanded their domestic assets to ₱10.6 trillion in the first three months this year, reflecting a 4.9 percent increase quarter-on-quarter and a robust 14.6 percent growth year-on-year, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
Damage to agriculture from the combined effects of Typhoons Crising, Dante, and Emong, along with the southwest monsoon (habagat), has reached ₱3 billion, according to a 31 July advisory from the Department of Agriculture (DA).