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 Philippine peso tumbled to a fresh record low on Thursday, breaching the P60-per-dollar mark, as escalating geopolitical tensions in the Middle East and surging oil prices rattled markets and drove investors toward the safety of the US dollar.
The Philippine Coconut Authority (PCA) says it does not support proposals to fully suspend the country’s biodiesel blending program, despite rising global fuel prices linked to the Middle East conflict.
The Jollibee Group has secured one of the world’s highest workplace recognitions, earning the Gallup Exceptional Workplace Award (GEWA) with Distinction from Gallup for its outstanding employee engagement and people-first culture.