A constitutional crisis that could derail the country’s economic recovery from the COVID-19 pandemic is looming , with the Senate and the House of Representatives take polar positions on the ongoing People’s Initiative to revise the Philippine Constitution.
The government sector borrowed USD1.32 billion more in medium- to long-term (MLT) funds in the final three months of 2023, which was 66 percent more than that borrowed a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.
The Department of Agriculture (DA) on Sunday reiterated the likelihood for the onion import ban to last beyond May or even June as part of measures helping shield onion growers from unreasonable farm gate prices and the destruction of their crops.
The price of palay or unhusked rice per kilo in the final three months of 2023 averaged P21.81, a 6.4 percent increase from third-quarter prices and 25 percent more than the year-earlier period.
An expected monetary policy easing this year—and consequently a drop in mortgage rates--should bolster demand for residential projects and industrial space, the latest edition of Colliers Research said.
The Philippine government has carved out a crucial exemption for socialized housing projects, allowing them to proceed with land-use reclassification despite an existing moratorium designed to protect agricultural land.
The Department of Trade and Industry (DTI) has sounded the alarm over a surge of uncertified and substandard products being sold across major e-commerce platforms, warning that the trend threatens consumer safety and erodes confidence in the country’s rapidly expanding digital marketplace.