Although this reversed the net outflow of $574.5 million recorded in 2021, the net inflow was way below the revised $3.5 billion target set by the Bangko Sentral ng Pilipinas (BSP).
The Philippine economy expanded in 2022 by 7.6 percent, exceeding the government’s target and thus far the fastest growth among emerging Asian economies, helped by strong consumer consumption amid a so-called “revenge spending” and a robust services sector.
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.
Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla expects inflation falling below the lower end of the government’s two- to four-percent target range early...
Net foreign direct investment (FDI) into the Philippines reached US$610 million in April, up 7.1 percent year-on-year, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
In a major affirmation of the country's commitment to digital economic leadership, PLDT Enterprise and the Information Technology and Business Process Association of the Philippines (IBPAP) have renewed their strategic partnership to bolster the country’s IT-BPM industry—a key economic driver and source of global competitiveness.
Seafront Resources Corp., a publicly listed investment holding firm under the Yuchengco Group, has sold its entire 11.33% stake in Hermosa Ecozone Development Corp. for P325 million.
The Department of Energy (DOE) has reaffirmed its commitment to ensuring stable fuel and power supply across the country, with particular focus on off-grid and island communities.