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The economy is projected to expand at the rate of 5.8 percent this year in terms of the gross domestic product, according to the International Monetary Fund in its latest iteration of the World Economic Outlook (WEO).

The policy-making Monetary Board of the Bangko Sentral ng Pilipinas has approved USD3.81 billion in foreign borrowings for the public sector during the third quarter of 2024, marking a 36 percent increase from the USD2.81 billion approved in the same period last year.

The Philippine Competition Commission (PCC) has approved a joint venture between the Cavite provincial government and a consortium including Cavitex Holdings, Inc. and House of Investments, Inc. to develop the USD11 billion Sangley Point International Airport (SPIA).

The Intergovernmental Group of Twenty-Four (G-24) will convene under the chairmanship of Finance Secretary Ralph Recto of the Philippines to address pressing international monetary and development finance issues.

The Philippine economy lost an estimated USD8.1 billion, around 1.9 percent of gross domestic product, through online scams despite growing awareness among Filipinos, the 2024 State of Scams in the Philippines report showed.