Tho country's foreign debt total USD118.8 billion as of end-September 2023, up by USD915 million (or 0.8 percent) from USD117.9 billion as of end-June 2023, the Bangko Sentral ng Pilipinas (BSP) said.
Secretary Frederick Go, Presidential Adviser on Investment and Economic Affairs, said the catch-up, which also includes attracting foreign investments and investing in infrastructure, targets to realize the country’s untapped export potential of $49 billion.
The National Economic and Development Authority Board, the country’s highest economic policymaking body, on Thursday decided to keep tariff rates on imported rice, corn and pork at reduced levels to address supply and price challenges, including the threat of El Nino and the African swine fever.
Teresita Sy Coson, BDO chairperson, late on Wednesday said the Philippines should do well as a country next year even though it faces a number of challenges.
The Department of Agriculture (DA) and the Technical Education and Skills Development Authority (TESDA) are expanding their partnership to modernize agricultural training and help farmers and fisherfolk adapt to new technologies.
Agriculture Secretary Francisco Tiu Laurel Jr. has welcomed Charoen Pokphand Foods Philippines Corp.’s (CPF) plan to invest US$1 billion (about ₱59 billion) over five years to expand hog production and help restore the country’s swine population to pre-African swine fever (ASF) levels by 2028.
Metro Pacific Tollways Corp. (MPTC) has received pre-effective approval from the Securities and Exchange Commission (SEC) for its planned public offering of up to ₱15 billion in fixed-rate bonds, with an additional ₱5 billion oversubscription option. The bonds may be issued in up to three series with tenors of 3, 5, or 10 years.
SM Prime Holdings Inc., in partnership with the Iloilo City Government, has opened the newly redeveloped Iloilo Central and Terminal Markets, transforming two of the city’s oldest public spaces into modern community hubs.