A widening negative output gap could justify further monetary policy easing, the Bangko Sentral ng Pilipinas (BSP) said following the Philippine economy’s weaker-than-anticipated gross domestic product (GDP) growth in the fourth quarter of 2024.
The Philippine government’s outstanding debt has reached a historic P16.02 trillion as of October 2024, surpassing the P16 trillion mark for the first time.
Global investors appeared to have lost their appetite for the Philippines, as total foreign investments significantly declined by 38.87 percent last year, sharply contrasting with the substantial investments in 2023.
The country’s gross international reserves (GIR) declined to $103.0 billion as of end-January from $106.3 billion in December 2024, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.
The biggest threats to the Philippines in the next two years are an economic downturn and poverty, according to the World Economic Forum (WEF).
The World Trade Organization chief said on Thursday that any tit-for-tat trade wars prompted by U.S. President Donald Trump’s tariff threats would have catastrophic consequences for global growth, urging states to refrain from retaliation.
U.S. President Donald Trump on Monday ordered a 90-day pause in foreign development assistance pending assessments of efficiencies and consistency with his foreign policy.
The number of Filipinos who deem themselves poor and food-poor is at its highest in two decades, the Social Weather Stations (SWS) said on Wednesday, January 8.
An intensified trade war between the United States and China in case Donald J. Trump retakes the US presidency may weaken currencies in the Association of Southeast Asian Nations (ASEAN), especially the Philippine peso, according to the think tank Oxford Economics.
The drop in Philippine inflation reflects weaker demand as consumers' pockets hurt by high prices and interest rates dry up, according to Deutsche Bank Research.
The Philippines has maintained its position at 52nd place out of 67 economies in the 2024 World Competitiveness report, mirroring its ranking from the previous year.
The Philippines posted a balance of payments (BOP) deficit of $1.5 billion in December 2024, reversing the $642 million surplus recorded in the same month the previous year, the Bangko Sentral ng Pilipinas (BSP) said.
By the year 2030, the country’s demographic can already be considered an aging population, according to the Commission on Population on Development (CPD).
The Philippine economy is expected to continue outperforming global growth trends, driven by strong domestic consumption and a young, growing population, according to BDO Unibank Senior Vice President Dante Tinga Jr.
Consumer spending in the Philippines is expected to rise further this year, driven by solid economic growth and easing inflation, according to a report by BMI, a unit of Fitch Solutions.
The House of Representatives approved on the third and final reading on Tuesday, January 14, the bill to reorganize the National Economic and Development Authority (NEDA) into a departmental agency.
Remittances from overseas Filipinos increased for the second straight month in October, data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed.
The World Bank is crafting its lending plan for the Philippines covering the years 2025 to 2028, the period during which the country will likely rise to upper middle-income status and gradually lose access to preferential borrowing rates.
President Marcos is eyeing to expand cooperation with the United Arab Emirates in “so many areas” to strengthen economic relations between the two countries.
Department of Agriculture Secretary Francisco Tiu Laurel Jr. on Monday declared a food security emergency on rice based on the recommendations from the National Price Coordinating Council.
The Philippines is poised to retain its position as the leading global rice importer this year and the next, according to the latest forecasts from the United States Department of Agriculture (USDA).
A farmers’ group on Wednesday asked the Economic Sabotage Council, composed of the National Bureau of Investigation, Philippine National Police and Philippine Coast Guard, to take the lead in probing the seizure of P202 million worth of smuggled mackerel from China.
A scientist group has urged the Supreme Court to uphold the rights of small-scale fisherfolk amid legal battles over commercial fishing operations encroaching on municipal waters, which are meant to be reserved for artisanal fishers.
Onion farmers are not happy about the government’s decision to import red and white onions during the peak harvest season in February and March.
The Commission on Audit (COA) has recommended the filing of charges by the National Irrigation Administration (NIA) against contractors for delays in the implementation of irrigation contracts and projects worth P2.04 billion.
Secretary Francisco Tiu Laurel Jr. of the Department of Agriculture (DA) said steps must now be taken to avert a possible shortage of eggs in April.
The Department of Agriculture (DA) on Friday warned consumers of imported vegetables that can be found in dry markets as they could have been smuggled.
The Philippines reported an outbreak of highly pathogenic H5N2 bird flu among backyard ducks, the World Organisation for Animal Health (WOAH) said on Thursday.
The Philippine government, through the Department of Agriculture (DA), has imposed a ban on the importation of domestic and wild birds from New Zealand amid an outbreak of avian influenza or bird flu there.
The move of the Department of Agriculture (DA) to remove brand labels and premium classifications on imported rice is a “shallow attempt” at addressing price manipulation and will only “deceive” consumers, two groups have claimed.
The number of tropical cyclones each year has not risen over the past four decades but their intensity has, according to international databases analysed by AFP that confirms the projections of climatologists.
A majority of Filipinos believe that inflation and health remain the top concerns, according to the latest survey from OCTA Research.
Younger members of Filipino fishing households left the industry between 2012 and 2022 to seek better jobs, according to the Philippine Statistics Authority.
International advocacy organization Oceana Philippines is calling on the government to enhance transparency efforts and strengthen collaboration among government offices to resolve issues on illegal fishing, overfishing, and resource depletion.
One of China’s largest fisheries research vessels was spotted passing through the Philippines’ archipelagic waters on Monday morning, according to a maritime expert.
A fuming Sen. Cynthia Villar couldn’t help but walk out of the Senate’s committee room amid a budget hearing. She was frustrated over the National Dairy Authority (NDA) and the Philippine Carabao Center’s (PCC) failure to properly disclose their contribution to the country’s dairy production.
Manila and Islamabad are confident that they could seal a deal by June 2025 if not earlier, through which Pakistan will ship to the Philippines at least 1 million metric tons (MT) of milled rice to augment the archipelago’s supply.
The volume of meat products imported by the Philippines last year surpassed the 2023 volume, fueled by the retention of low tariffs and the continued presence of African swine fever (ASF) in the Philippines.
Lower fertilizer prices and higher yields allowed palay farmers last year to cut their production costs to a three-year low, government officials and industry players said.
President Ferdinand “Bongbong” Marcos Jr. said Friday that the new flour milling plant in Quezon province would help in ensuring the country’s food security.
Israeli Ambassador to the Philippines Ilan Fluss is pushing to expand Israel’s intensive agricultural training program to reach more provinces across the country.
President Marcos wants to ramp up livestock consolidation and intensify biosecurity measures in addition to the ongoing vaccination against African swine fever (ASF) to fight the virus.
Davao City has overtaken Manila as the Philippine city with the worst traffic, based on the 2024 TomTom Traffic Index. Ranking 8th globally out of 500 cities, Davao City was also the most congested city in the Philippines.
PLDT Inc said on Thursday that it is working with the Department of Labor and the rank-and-file workers group Manggagawa ng Komunikasyon ng Pilipinas to resolve the issue linked to their ongoing collective bargaining agreement (CBA) negotiations.
Transport Network Vehicle Services (TNVS) drivers were “dismayed” over the proposal of the Land Transportation Franchising and Regulatory Board (LTFRB) to reduce surge fees by 50 percent.
The Land Transportation Franchising and Regulatory Board (LTFRB) announced on Tuesday that it is reviewing a proposal to raise the minimum jeepney fare to P15.
The Bureau of Customs (BOC) has clarified that the backlog of rice shipments at Manila ports is not due to congestion, but rather pending actions from consignees necessary for the release of these goods.
As the national government continues to find ways to address the wide digital divide in the country, a World Bank study disclosed that outdated policy frameworks in the country are serving as a hindrance in the broadband expansion and limit the access of internet connectivity to Filipinos.
Transport group PISTON on Monday filed a petition with the Land Transportation Franchising and Regulatory Board (LTFRB) to allow the registration of unconsolidated jeepneys.
Drivers of four-wheeled vehicles in Metro Manila may eventually have to pay a fee to use the perennially congested Epifanio de los Santos Avenue (Edsa).
President Ferdinand Marcos Jr. on Tuesday met with Metropolitan Manila Development Authority (MMDA) Chairman Romando Artes and other Cabinet officials to discuss updates on the agency’s Comprehensive Traffic Management Plan (CTMP) for Metro Manila and nearby provinces.
The Department of Information and Communications Technology (DICT) is hoping that internet rates will be cheaper once the government completes the National Fiber Backbone plan.
President Ferdinand R. Marcos Jr. fulfilled his promise to enhance the country’s transportation system by inaugurating the Light Rail Transit Line 1 (LRT-1) Cavite Extension Project (L1CE) Phase 1 on November 15, 2024.
The Department of Agriculture (DA) is seeking the improvement of the country’s road and bridge infrastructure to ensure the smooth flow of agricultural products to markets, making prices of goods stable for consumers.
President Marcos said that the newly opened Maersk Optimus Distribution Center will bring the country's logistics system a step closer to becoming a "powerful force" that will bridge the country's islands, breathe life into different industries, and bring people together toward development.
The Social Security System (SSS) has announced a collaboration with iOne Resources, Inc., the local distributor of Starlink, to bring high-speed internet connectivity to its service offices in remote areas.
The World Bank on Friday announced it has approved a multi-million dollar loan to finance a flagship infrastructure project of the Philippine government aimed at improving broadband connectivity across the country.
Average Minimum Wage: ₱441.00 ($7.60) per day + Income Tax (~30%) + mandatory Philhealth and SSS contributions shouldered by the business owner/worker.
Some people can get offers as low as ₱200 ($3.57) per day below the minimum wage, it's illegal yes but nobody hires them if they follow the minimum wage guidelines, they don't have Philhealth and SSS contributions either.Businesses making large profit margins are among the key drivers of rising living costs, according to 77% of Filipinos in a 2024 survey by international research firm Ipsos.
The Philippines faces possible “substantial correction” in land values in Metro Manila, the country’s main property market, amid a widening glut in residential condominiums and elevated office vacancy rates.
According to the group, they informed Malacañang that they were perplexed by the notices to vacate served by a Baguio Regional Trial Court (RTC) in early January that locked them out of their homes and hotel rooms, after the state-run Bases Conversion and Development Authority (BCDA) took over Camp John Hay from developer Camp John Hay Development Corporation (CJHDevco).
The Philippines’ gaming industry is bracing for intensified competition as Thailand and Japan move to legalize casinos, a shift that could divert high-spending gamblers away from the country, according to Philippine Amusement and Gaming Corp. (Pagcor) chairman and CEO Alejandro Tengco.
Many pundits have reportedly questioned the impact Frasco has had on Philippine tourism, especially after she famously pinned hopes on boosting the number of Chinese tourists—a strategy that ultimately turned out to be a massive failure. In reality, the country failed to meet its 7.7 million visitor target and was overtaken by ASEAN neighbors who attracted more tourists.
Philippine-assembled electronics—the country's top merchandise export—may be hurt by bigger Chinese production, the World Bank said.
The Philippines auto industry has much to celebrate, with 2024 serving as a banner year for vehicle sales, and yet another vehicle, the Toyota Tamaraw will begin local production. However, there’s also worrying development beneath these achievements. In spite of the growth, the Philippine auto industry, particularly its local manufacturing aspect, continues to lag behind its ASEAN neighbors.
Philippine manufacturing activity in January expanded at its slowest pace in five months as growth in new orders eased.
Vietnam has upended the Philippines’ 20-year rule as the top supplier of bananas to China. International Trade Centre (ITC) data showed that Vietnam – for the first time – overtook the Philippines as China’s top supplier of bananas last year.
Members of the Association of Southeast Asian Nations (ASEAN) should work together to stop the spread of illegal tobacco trade which has been harming legitimate businesses in the region, according to international experts.
Out of the thousands of displaced workers from Internet Gaming Licensees (IGLs) who attended a recent job fair in Pasay City, only 100 were hired on the spot, the Department of Labor and Employment (DOLE) said Saturday, February 1.
Collected data shows the Philippines ranks high yet again among countries with the most screen time, particularly on phones and social media.
The Philippines lags behind Thailand, Indonesia, and Malaysia in attracting hyperscalers and global companies for their data center needs.
Young Filipinos are investing in cryptocurrencies at a level comparable to the government's national budget, and this trend is likely to grow further with potentially supportive Trump policies.
The United States Trade Representative (USTR) has kept Greenhills Shopping Center, a popular mall in Metro Manila, on its watchlist for markets tagged for counterfeiting and piracy.
Banks cut their exposure to the volatile property sector in the third quarter to hit the lowest level in five years, with the proportion of soured home loans posting an uptick and staying elevated as financial conditions remained tight.
The report "highlights the continued growth and potential of the Philippine market, and underscores the country’s open-door policy for foreign investments," Fries noted, adding that the Philippines "offers great potential for business and innovation, not least in areas where Sweden excels.. However, "all is not rosy and well—the report notes that Swedish companies face red tape, regulatory issues and high energy costs," Fries pointed out.
Mylene Cabalona has been taking calls for foreign companies from the Philippines since 2010, the same year when the country overtook India to become the world’s call center capital of the world, employing more than half a million people.
The Philippines dropped by two spots in this year’s World Digital Competitiveness Ranking, placing 61st out of 67 countries, according to a report by the Institute for Management Development (IMD) released Thursday.
Chamber of Mines of the Philippines chairman, Atty. Mike Toledo, said the lack of aligned laws between local and national governments is costing the country billions in potential investments.
Sen. Risa Hontiveros bared that some government officials are allegedly coaching illegal Philippine offshore gaming operators (Pogos) to conceal their activities as business process outsourcing (BPO) firms.
President Ferdinand “Bongbong” R. Marcos Jr. has declared May of every year as Ease of Doing Business (EODB) month.
After more than three years, the Philippines has finally exited the “grey list” of Paris-based watchdog Financial Action Task Force (FATF), which commended the country for plugging all the holes in its defenses against dirty money and terrorism financing.
President Ferdinand Marcos Jr. on Monday signed into law the measure that amends the law on corporate income taxes. The measure titled Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act or Republic Act (RA) No. 12066, seeks to boost the country’s economy.
Manila has the potential to become a global playground city, according to a Thailand-based hospitality consultancy firm.
Filipino workers need not worry about artificial intelligence (AI) immediately taking over their jobs as the World Bank reported that developing countries, including the Philippines, have lower exposure to AI disruptions. This relatively smaller exposure is "partly due to a different labor market structure in developing countries, with more jobs involving manual labor or interpersonal interaction." Such jobs are less susceptible to significant changes brought about by AI.
President Ferdinand Marcos Jr. recently met with executives of a global leader in the semiconductor industry to discuss growth prospects in the Philippines.
The Department of Trade and Industry (DTI) has slapped a provisional safeguard duty of P400 per metric ton on two types of imported cement that it believes to be harming the local industry.
The Sy family’s SM Foundation Inc. (SMFI) and the German-Philippine Chamber of Commerce and Industry (GPCCI) have joined forces to create employment and upskilling opportunities for Filipinos.
The Philippine mining industry, especially companies engaged in gold extraction, is poised to gain from record-high gold prices in the global market.
President Ferdinand ''Bongbong'' Marcos Jr. welcomed Mitsubishi Motors Corp.'s (MMC) P7-billion investment plan in the Philippines in the next five years, saying that this will create employment for Filipinos.
The Armed Forces of the Philippines (AFP) and the Department of Science and Technology-Philippine Textile Research Institute (DOST-PTRI) are collaborating to produce battle dress uniforms (BDUs) using locally sourced textile fabrics.
SteelAsia Manufacturing Corp., the country’s flagship steel company, shipped out over P1.1 billion worth of products to Canada last week, marking the Philippines’ largest steel export to date.
A unit of Metro Pacific Water (MPW) will explore wastewater management projects in the Philippines with a subsidiary of Japanese multinational Hitachi Ltd., including development of new treatment plants.
The Philippine government has signed an agreement with Denmark to enhance healthcare education and training opportunities for Filipino nursing professionals and healthcare assistants interested in working in the European country, the Department of Migrant Workers (DMW) said.
The proportion of non-performing loans (NPLs) of Philippine banks to their total loans fell to a one-year low of 3.27 percent in December last year.
Given a relatively small exports advantage over America, the Philippines may escape US President-elect Donald J. Trump's tariffs threat and even boost its top export sector in case neighboring economies—especially China—are targeted by American trade and investment sanctions, according to the think tank Oxford Economics.. In particular, Davis cited that "the Philippines maintains a smaller trade surplus with the US compared to China, Vietnam, Thailand, Malaysia, and India."
Upgrading the skills of Filipino workers from technicians to engineers and professors would allow the country to position itself better in the global semiconductor and electronics industry amid a booming technological advancement, a diplomat said.
The President last year certified this measure as urgent after more than 50,000 Filipino seafarers working in European vessels almost lost their jobs because of their repeated failure to pass the standards set by European maritime authorities.
President Ferdinand Marcos Jr. signed into law the Enterprise-Based Education and Training (EBET) Framework Act to address jobs and skills mismatch, strengthen career development, and promote quality employment in the country.
President Marcos touted the Philippines as a strategic location for investment, saying it is now ready to be a regional hub for smart and sustainable manufacturing and services.
The Pag-IBIG Funds’ records management system is apparently so archaic that it has no consolidated records of contributions made by members.
THE PHILIPPINES maintained its “partly free” status for the second consecutive year in the 2025 Freedom in the World report by US-based Freedom House, as inequalities in its justice system remain.
Senatorial candidate Erwin Tulfo blamed Congress for not actively acting on a measure that would eradicate political dynasties in the country, maintaining that the absence of such enable the ascendancy of certain clans in the government.
A comprehensive database on the Philippine infrastructure system and its most urgent demands is necessary for guiding infrastructure investments, according to a recent study by the Philippine Institute for Development Studies (PIDS).
Lawmakers are now conducting an inquiry into Mayor Janet Ilagan and Vice Mayor Jay Manalo Ilagan's offices' alleged misuse of public funds and irregularities in its operations. In 2021, their offices spent millions of the local government's funds, and yet they cannot explain where the money was used.
The Department of Public Works and Highways (DPWH) was flagged by the Commission on Audit (COA) for failing to efficiently implement local and foreign-assisted projects amounting to P215.9 billion.
A decade after approving its loan for the Cebu bus rapid transit (BRT) project, the World Bank lamented sluggish implementation and warned it may remain unfinished when the financing ends two years from now.
Businesses in the Philippines enjoy operating in a strong regulatory environment but are most bogged down by inefficient government support services, the World Bank's new Business Ready report launched on Oct. 3 showed.
In 2019, the World Economic Forum ranked the Philippines’ infrastructure 96th out of 141 countries in that year’s Global Competitiveness Report, which aims to provide annual assessments of selected countries’ drivers of long-term economic growth and productivity. The country’s transport infrastructure was ranked 102nd out of 141, while utility infrastructure placed 96th.
The country’s lowest ranking was in education, placing 63rd out of 67, dropping by one position from 2023. It ranked 60th for both health and environment and scientific infrastructure (down three spots from 2023), and ranked 62nd in basic infrastructure (down four spots from 2023).
Every purchase now carries a heavier weight as the Philippines is found to have the highest value-added tax (VAT) rate in all of Southeast Asia for the 2023-2024 period, according to PricewaterhouseCoopers (PwC).
The Philippines continues to court other nations’ support for its bid for a seat in the powerful United Nations Security Council while maintaining a controversial anti-insurgency task force that two UN special rapporteurs have called to disband.
Department of Budget and Management Secretary Amenah F. Pangandaman urged Congress to pass the National Government Rightsizing Program (NGRP) to address the issue of unfilled plantilla positions in the government.
According to the policy brief, the number of undersecretaries and assistant secretaries has almost tripled since 1994, but the country lags in terms of hiring professionals such as teachers and doctors.
It's time to stop the madness.
The House of Representatives has filed a total of 13,454 measures since 2022, Speaker Martin Romualdez said on Sunday. According to Romualdez, these measures were filed from July 25, 2022, to December 27, 2024, comprising 11,241 bills, 2,212 resolutions, and one petition.
Senate is on track in making 2024 among its most productive years, with more than a hundred bills passed and over 70 signed into law.
President Marcos on Friday lauded the Bureau of Customs (BOC) for collecting P931.046 billion ($17 billion) in 2024, the highest in the agency’s history.
Executive Secretary Lucas Bersamin on Monday defended President Ferdinand “Bongbong” Marcos Jr.’s handling of the 2025 national budget, saying he had “thoroughly purged” it of unnecessary expenditures.
The national government can save billions of pesos through the rightsizing program, a Department of Budget and Management (DBM) official said on Tuesday.
President Ferdinand Marcos Jr. on Tuesday told the United Nations that the Philippines remains a “proactive member” of the global community in fighting corruption.
The Department of Finance (DOF) has secured a billion-peso grant from the European Union (EU) to fund a program strengthening the Philippine justice system, combating corruption, and supporting marginalized sectors, particularly women.
The Department of Budget and Management (DBM) has inked an agreement with the Manila Bulletin Publishing Corporation and other major Filipino media companies for transparency and accountability in government.
There has been a significant increase in case dispositions in several courts across the country in 2024, the Supreme Court spokesperson told reporters on Wednesday, December 11.
The World Bank gave the Philippines a “very satisfactory rating” in the implementation of the P34-billion World Bank and European Union-funded projects under the Philippine Rural Development Project (PRDP).
The National Economic and Development Authority (NEDA) Board has approved a series of infrastructure projects aimed at enhancing maritime security, improving flood control, and advancing tourism infrastructure in the Philippines.
The Department of Finance (DOF) said that the US Department of the Treasury has vowed to support the country’s efforts to strengthen its tax and customs administration system.
President Marcos has issued an executive order (EO) to streamline and harmonize the Results-Based Performance Management System (RBPMS) and Performance-Based Incentive (PBI) System in government.
The Philippines plans to seek the assistance of Indo-Pacific Economic Framework for Prosperity (IPEF) partners in its fight against corruption, the Department of Trade and Industry (DTI) said.
The creation of digital Philippine Public Financial Management (PFM) reforms will enable more efficiency and effective government services for Filipinos, Department of Finance Secretary Ralph G. Recto said.
President Ferdinand Marcos Jr. approved the New Government Procurement Act (NGPA) and the Anti-Financial Account Scamming Act (AFASA).