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.
The Manila Electric Co. (Meralco) said it supports using a competitive selection process, or public bidding, when choosing private sector partners for electric cooperatives (ECs).
Electricity prices in the country’s spot market increased sharply in March, driven by tighter supply and higher demand, according to the Independent Electricity Market Operator of the Philippines (IEMOP).