The Philippines has again revised its growth target for the year, citing heightened global uncertainties such as the conflict in the Middle East and the imposition of US tariffs.
The Philippines’ sovereign debt is expected to balloon further, breaching P19 trillion by the end of 2026, budget documents showed.
While the Bangko Sentral ng Pilipinas (BSP) has already moved to unlink in-app online gambling platforms from financial institutions, the central bank chief affirmed the possibility of the Philippines returning to the money-laundering watchlist should the government fail to contain persisting online gambling concerns.
Currency Latest bid Previous day Pct Move
Peso 57.016 56.908 -0.19
The Philippines’ goal of becoming a high-income country by 2040 is slipping out of reach, with Socioeconomic Planning Secretary Arsenio Balisacan admitting that the target is no longer realistic given current economic growth trends.
Despite the vulnerability of Filipino households to socioeconomic shocks and natural disasters, their access to financial services remains a laggard compared to the Philippines’ regional and income-level peers, the 2025 Global Findex Database of the World Bank showed.
The World Bank has retained the Philippines’ classification as a lower middle income country, despite President Ferdinand Marcos Jr.’s administration pushing for an upgrade to upper middle income status.
The Bangko Sentral ng Pilipinas (BSP) has revised upward its forecast for the country’s balance of payments (BOP) deficit in 2025, citing weaker foreign direct investment (FDI) inflows and persistent global economic uncertainties.
Money sent home by Filipinos working and living in the United States (US) is seen at risk from the remittance tax proposal pending in the US Congress, according to the think tank Capital Economics.
The Makati Business Club (MBC) has called on the government to address high power costs and strengthen the country’s manufacturing sector, as economic growth in the first quarter fell short of official targets and new U.S. tariffs raised fresh concerns for exporters.
US President Donald Trump’s sweeping tariffs on America’s trading partners could make emerging economies like the Philippines more exposed to an influx of cheap Chinese goods, which could be very disruptive to Filipino producers.
The Philippines ranked 122nd out of 177 countries in the inaugural Secretariat Economic Crime Index (SECI) by the advisory firm Secretariat. On a scale of 0 (minimal risk) to 4 (maximum risk), the country scored 2.51 and classified as “reactive reformer.” The SECI is a composite index that integrates three crucial dimension of economic crime: organized crime, corruption, and money laundering.
Money sent home by overseas Filipinos rose 2.9% year-on-year in May, driven by higher inflows from both land-based and sea-based workers, according to data from the Bangko Sentral ng Pilipinas (BSP).
The Philippines and Southeast Asia may attract foreign investments avoiding China and India if the United States (US) pushes through with its threat of higher tariffs on Indian goods, according to the think tank Capital Economics.
The Philippine Economic Zone Authority (PEZA) began the second half of the year on a high note, with investment approvals surging by 100 percent by the end of July, amid growing confidence in the country as an investment hub.
While the 19-percent United States (US) tariff imposed on Philippine exports compared to zero duties on certain American goods may seem unfair, private-sector economists said reducing the original 20-percent rate is still a step forward.
The country’s gross international reserves (GIR) increased slightly to $105.3 billion in June from $105.2 billion in May.
THE PHILIPPINES improved one spot in a global competitiveness index, but remained a laggard in the Asia-Pacific region, according to the Asian Institute of Management Rizalino S. Navarro Policy Center for Competitiveness (AIM RSN PCC).
Economic reforms are expected to proceed, even as the political noise amplified by the midterm election results that "weakened" the Marcos administration's hold on power may hamper efforts to enhance public-sector effectiveness, according to the Economist Intelligence Unit (EIU).
The board of executive directors of the Washington-based World Bank has approved the group’s new lending program, or so-called country partnership framework (CPF), for the Philippines covering the years 2026 to 2031, with a focus on boosting investment in education, health, job creation, digitization, and strengthening economic and social resilience.
President Ferdinand Marcos Jr. has signed into law a measure turning the National Economic and Development Authority (Neda) into the Department of Economy, Planning and Development (DepDev).
The American private sector is set to pour fresh investments into the Philippines, underscoring the country’s standing as a strategic partner in Southeast Asia, according to the US-ASEAN Business Council (USABC).
The Philippines’ rice output, which soared to a record high in the first half, may not be enough to meet the anticipated demand during the 60-day import ban set to begin next week, according to the United States Department of Agriculture (USDA).
From river-clogging plants to disease-carrying insects, the direct economic cost of invasive species worldwide has averaged about $35 billion a year for decades, researchers said Monday.
Consumers should expect high pork prices at the onset of “ber” months when demand seasonally increases, coupled with lower production following the rainy months.
The country’s raw sugar output in the upcoming market year (MY) 2026 may remain flat at 1.85 million metric tons (MT) as planted areas are expected to stagnate amid land conversions, according to an international report.
The Department of Agriculture (DA) on Sunday announced a temporary ban on the importation of live cattle and buffalo from France and Italy, following confirmed outbreaks of Lumpy Skin Disease (LSD), a highly contagious disease which causes fever and distinctive skin nodules in infected animals.
Filipino fishers on Tuesday, July 8, raised alarm over the growing number of Chinese vessels in the West Philippine Sea (WPS), saying their presence disrupts local livelihoods and puts both people and the environment at risk.
Accreditation unit personnel in the Bureau of Customs (BOC) received around P100,000 in under-the-table payments in exchange for approving bogus broker applications, according to Sen. Raffy Tulfo.
Younger members of Filipino fishing households left the industry between 2012 and 2022 to seek better jobs, according to the Philippine Statistics Authority.
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.
President Ferdinand ''Bongbong'' Marcos Jr. is expecting a reduction as to the subsidies for the government's P20 per kilo of rice initiative.
The United States Department of Agriculture (USDA) has revised upward its forecast for global rice production by 300,000 metric tons (MT) amid higher rice output in the Philippines.
The Bureau of Customs (BOC) and the Department of Justice (DOJ) met on Wednesday to tackle efforts boosting the country’s fight against agri-smuggling and “institutionalize” their partnership.
The World Bank has noted improved implementation of an extended loan that supports breaking down collective certificates of land ownership awards (CLOAs), or titles given to agrarian reform beneficiaries (ARBs) in the Philippines.
There are fewer Filipino families that experienced involuntary hunger or were hungry and had nothing to eat at least once in the past three months, according to the Second Quarter 2025 Social Weather Survey (SWS).
Over 180 Filipino fisherfolk were trained in a United States-supported program to expand their knowledge on sustainable fishing practices and strengthen their ability to assert their maritime rights in the South China Sea.
The Philippines is ramping up its crackdown on agricultural smuggling, with Agriculture Secretary Francisco Tiu Laurel Jr. vowing on Tuesday to see arrests made before the end of the year as part of efforts to protect local producers and tighten enforcement.
The Department of Agriculture (DA) has officially declared Nueva Vizcaya the “Ginger Capital of the Philippines,” given the province’s continued lead in ginger production, supplying major trading hubs across the country.
The Philippine agricultural sector posted an expansion in production in the first three months of the year, following three straight quarters of contractions due to weather disturbances that hit the country in 2024, data released by the Philippine Statistics Authority (PSA) showed Wednesday.
The Philippine agricultural sector posted an expansion in production in the first three months of the year, following three straight quarters of contractions due to weather disturbances that hit the country in 2024, data released by the Philippine Statistics Authority (PSA) showed Wednesday.
The number of barangays with active cases of African swine fever (ASF) dropped further by the end of February, the Department of Agriculture-Bureau of Animal Industry reported Tuesday.
The Department of Environment and Natural Resources (DENR) said it is set to establish eight marine scientific research stations across the country, including one on Pag-asa Island, as part of efforts to strengthen maritime security and environmental conservation in the West Philippine Sea (WPS).
The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos Jr., has approved a three-year program to improve food insecurity and malnutrition measures.
The National Irrigation Administration (NIA) has successfully repaired 60 percent of the irrigation structures in Bicol that were severely damaged by Typhoon “Kristine” (international name: Trami), the agency reported Tuesday.
House Speaker Martin Romualdez is confident that the Laguna-based Agri Specialist Inc.’s Bio N fertilizer plant--which will mass-produce locally developed biofertilizer--will be a game-changer in local food production.
The Department of Agriculture (DA) seized roughly P2.8 billion worth of smuggled agricultural goods in 2024, almost a billion more than the 2023 level, as the government intensified efforts to crack down on smuggling that deprives the state of revenues and exposes the public to potential health risks.
President Marcos said that the government is allocating funds for agricultural infrastructure to strengthen the country's food security and agricultural productivity.
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.
The Makabayan bloc has asked the House of Representatives of the 20th Congress to investigate the Ninoy Aquino International Airport (Naia) privatization, claiming that the transfer of operations to a private consortium would be detrimental to the public.
The Department of Transportation (DOTr) is preparing to file economic sabotage charges against online travel agent platform AirAsia MOVE for allegedly overcharging customers for plane tickets.
The embattled contractor of the Unified Grand Central Station defended itself after the Department of Transportation (DOTr) formally terminated its contract for the project, with the company claiming the delays in construction were caused by the government’s failure to pay for work that had been completed.
“Our suppliers and workers needed to be paid. Without the contractually agreed payments from DOTr, continuing operations became impossible”
-(BF-FDSC) Consortium
It added that the “undue and habitual delay in payment” prompted it to “stop work” because continuing would “severely impair” its financial position, along with the quality of work.
The demonstration highlights alleged corruption and irregularities in government flood-control projects. The groups are also raising long-standing concerns over the government’s jeepney modernization program, which they claim threatens the livelihood of many drivers and operators.
There is still no certainty on whether the Marcos administration can break ground during its term for the P257-billion railways in Bicol and Mindanao without an identified source of funding.
The Philippines’ overall index score fell by 0.52 to 67.69 (out of 100) in the latest edition of the Mobile Connectivity Index by nonprofit organization GSM Association (GSMA). The index assesses and tracks the performance of countries against the equally weighted key enablers of mobile internet adoption; infrastructure, affordability, consumer readiness, and content and services. A higher score means a more enabling environment for delivering mobile internet.
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.
The Philippines dipped to 23rd in this year’s ranking that assesses how the world’s most promising logistics markets respond to emerging developments in global logistics.
President Ferdinand Marcos Jr. has ordered the dismantling of the iconic Kamuning Footbridge, long criticized for its excessive height.
The already heavy traffic is anticipated to become even worse as the government rolls out a complete overhaul of Metro Manila’s main thoroughfare around mid-June, according to the Department of Transportation (DOTr).
The Philippines has received confirmation that the United States' support for the Biden-approved Luzon Economic Corridor remains intact despite US President Donald Trump's recent pullbacks in foreign assistance.
A two-kilometer farm-to-market road has been turned over to the municipal government of Cuyapo in Nueva Ecija by the Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU).
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 + 12% VAT (Highest in Asia)
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.Due to lingering global trade uncertainty, coupled with the Philippines' weaker competitiveness, the Marcos administration's economic team has cautioned that the country's goods exports could come under massive pressure this year..
Japanese financial giant MUFG said the Philippine peso could suffer from the controversial flood control scandals, which are seen to break the upward momentum of government spending in two decades.
The Philippine Stock Exchange index (PSEi) dropped for the sixth straight session, breaking below the 6,000 level, as investors worried about the weak peso, the impact of corruption on infrastructure spending, and general weak investor confidence in the economy.
Philippine banks are shoring up their loan-loss buffers as the industry’s bad loan ratio climbed to an eight-month high of 3.4 percent, due to the lingering impact of the Covid-19 pandemic and global uncertainties affecting borrowers’ ability to repay debts.
Asia’s factory activity deteriorated in July as soft global demand and lingering uncertainty over U.S. tariffs weighed on business morale, private sector surveys showed on Friday, clouding the outlook for the region’s fragile recovery.
Philippine businesses showed tempered optimism in the third quarter of 2025, while households reported a slightly improved but still cautious outlook, according to surveys released by the central bank.
The Federation of Filipino Chinese Chambers of Commerce & Industry Inc. (FFCCCII) has urged the government and all sectors of society to move past superficial gestures in addressing corruption, calling instead for structural reforms.
The country’s umbrella group of exporters has lowered its export projection for this year, citing the impact of the 19-percent tariff imposed by the United States on shipments coming from the Philippines.
Shares of Global Ferronickel Holdings Inc. (FNI) tumbled as much as 19% on Tuesday after its chairman, Joseph Sy, was arrested by the Bureau of Immigration (BI) over allegations of falsifying his Filipino citizenship.
Stakeholders in the Philippine semiconductor industry are urging the Marcos administration to beef up trade with other chip export markets.The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) issued this call as United States President Donald Trump threatens 100 percent tariffs on foreign-made chips to shore up production in the United States.
There is a “troubling increase” in the number of Filipino college graduates who are unemployed, according to the Commission on Higher Education.
The Philippines’ ranking worsened in the latest edition of the Digital Evolution Index (DEI) published by The Fletcher School at Tufts University in collaboration with Mastercard. The country fell by a notch to 77th out of 125 economies in the Digital Evolution State factor while it slipped three places to 53rd in the Momentum factor.
South Korea’s pilot program for overseas domestic workers is now hanging in the balance, with no clear path forward after months of delays, labor disputes, and a new administration that had voiced skepticism about the system in the past.
Malacañang on Monday said it was saddened by the remarks of Vice President Sara Duterte questioning why the San Juanico bridge is being promoted as a tourist spot.
The Philippine Coconut Authority said on Wednesday that coconut scale insect, widely-known as cocolisap, has infested more than 516,000 coconut trees across nine regions in the Philippines.
Business environment in the Philippines worsened as it jumped* eight places to 26th out of 79 jurisdictions in the latest edition of the Global Business Complexity Index by multinational services firm TMF Group.
Sales of luxury condominium units in Metro Manila fell by 48% in the second quarter of 2025 as tight supply weighed on transactions, according to data from real estate consultancy Leechiu Property Consultants (LPC).
The Department of Tourism (DOT) on Tuesday denounced the recent killing of two Japanese nationals in the City of Manila, saying that it has already triggered travel warnings from several embassies.
“I want to know: what has our ambassador in Washington done about this damaging advisory? We must defend our country’s reputation”
-Rodriguez
"Unstable politics" in the Philippines is getting in the way of it becoming an alternative regional export hub to Vietnam amid the threat of tariffs from US President Donald Trump, according to the think tank Capital Economics.
The Philippines lags behind Thailand, Indonesia, and Malaysia in attracting hyperscalers and global companies for their data center needs.
The information technology and business process management (IT-BPM) sector has revised upward its projected revenues next year to $42 billion, driven by the continued expansion of global capability centers (GCCs) into the country.
The Securities and Exchange Commission (SEC) is moving to make company registration faster and more accessible, expanding its one-day registration program to cover more industries.
The government has “started to organize” conference for online gambling stakeholders as it seeks to draft policies against gambling addiction in the Philippines, President Ferdinand Marcos Jr. said on Thursday.
THE PHILIPPINES joins a select group of growing economies that will drive expanding meat consumption over the next decade or so, the Food and Agriculture Organization (FAO) and the Organisation for Economic Cooperation and Development (OECD) said.
Readers of American newspaper USA Today hailed Jollibee's famous "crispy-licious" chicken as the best for the second year in a row.
The Philippines' domestic agricultural and manufacturing sectors are not included in the trade concessions recently given to the United States, the Department of Trade and Industry and Malacañang's 'economic czar' said on Thursday.
The Philippines hung by a thread as it remained as the world’s third largest banana exporter amid stiffer competition posed by rising South American producers, according to the United Nations’ Food and Agriculture Organization.
President Ferdinand Marcos Jr. is likely to give his green light to the proposed Blue Economy Act, which seeks to enrich the country’s marine resources and protect the rights and welfare of fisherfolk, a Palace official said on Thursday.
The Securities and Exchange Commission (SEC) has pledged swift and transparent implementation of reforms to support President Ferdinand Marcos Jr.’s goal of building an inclusive and efficient capital market in the Philippines.
The Filipino-Chinese business community on Wednesday lauded the Senate’s approval of two long-overdue economic reform bills, one allowing 99-year land lease for foreigners and the other streamlining right-of-way procedures.
After its successful entry into the China market, fresh durian from the Philippines is now cleared for export to Egypt, the Department of Agriculture – Bureau of Plant Industry (DA-BPI) announced on Thursday.
President Ferdinand R. Marcos Jr. said there are ongoing discussions among local and foreign groups regarding the revival of the National Steel Corp. (NSC).
President Marcos has issued Administrative Order (AO) No. 31, creating the Semiconductor and Electronics Industry (SEI) Advisory Council to strengthen the country's semiconductor and electronics industry, ensure global competitiveness, and accelerate the sector's growth.
Five hotels in the Philippines made the cut of the inaugural Global Michelin Keys Selection, a new benchmark of the famous Michelin Guide for excellence in lodging.
The Department of Justice (DOJ) vowed to further fortify the fight against money laundering and terrorism financing activities after the Philippines was removed from the European Commission’s (EC) list of “high-risk” countries.
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.
A $600-million (over ₱33-billion) loan scheduled to be greenlit by the Washington-based World Bank in December is aiming to not only help sustain robust economic expansion in the Philippines but also ensure that Filipino workers are ready to reap growth-induced employment.
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.
The Philippine mining industry, especially companies engaged in gold extraction, is poised to gain from record-high gold prices in the global market.
“The problem with socialism is that you eventually run out of other people's money”
-Margaret Thatcher
Three lawmakers have filed a bill seeking to make discrimination based on sexual orientation, gender identity or expression, or sex characteristics (SOGIESC) a punishable offense.
Members of the Joint Foreign Chambers of the Philippines (JFC) have presented a fresh list of reforms to the government, aimed at increasing the competitiveness of the Philippines, which has lagged behind its peers in Southeast Asia.
The World Bank has downgraded the implementation progress of the loan-funded Philippines Digital Infrastructure Project due to delayed budget cover.
The Department of Information and Communications Technology again threw its support behind moves to put the 2026 Budget on blockchain saying this will help curb corruption.
Government agencies posted a 94-percent utilization rate of their cash allocations in the first seven months of 2025, unchanged from a year ago, but the Department of Energy (DOE) and the Department of Information and Communications Technology (DICT) continued to trail behind.
Metro Manila’s annual floods are often blamed on climate change — but for architect and urban planner Felino “Jun” Palafox Jr., it's just an easy excuse masking decades of government inaction.
Around 44 infrastructure projects funded through official development assistance (ODA) are delayed, according to data from the Department of Economy, Planning and Development (DEPDev).
More than 5,000 Filipino families from low-income communities are set to own land through the revived on-site housing projects in key areas of the country, as part of the government’s renewed push for its mass housing program.
Election observers from the European Union have urged the Philippines to fix its outdated and fragmented election code after finding the Commission on Elections "effectively created new rules" and contradicted existing laws through a flurry of new resolutions for the midterm polls.
The three-year-old administration of President Marcos has “nearly” P1 trillion worth of “delayed projects,” which needs pushing before he steps down in mid-2028.
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.
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).
A bill granting free funeral services to the poor has lapsed into law without the signature of President Ferdinand Marcos Jr.
The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) expressed its support to the Bureau of Customs (BOC) for pursuing a sweeping tight governance measure to avoid corruption inside and outside the agency.
President Ferdinand Marcos Jr. has signed into law the Accelerated and Reformed Right-of-Way Act, Palace Press Officer Claire Castro said on Thursday.
President Ferdinand Marcos Jr. has signed into law the E-Governance Act, which institutionalizes a secure digital system that streamlines government processes. The law aims to reduce red tape and promote transparency, which allows the government to deliver public services faster to Filipinos.
President Ferdinand Marcos Jr. will not oppose calls to amend the 1987 Constitution through a constitutional convention (Con-con) as long as it would help improve the charter and close loopholes in its provisions, Malacañang said Tuesday.
Senate Minority Leader Vicente “Tito” Sotto III has filed a bill giving citizens the right to information on matters of public concern and providing a mechanism for full public disclosure on all government transactions involving public interest.
Vice President Sara Duterte on Monday urged greater investment in digital transformation, describing it as a “weapon against corruption” that can end the manipulation of public funds through the digitalization of government processes.
Romualdez's Budget Modernization Act proposes a shift to a cash-based budgeting system, which aims to "accelerate the delivery of government services, eliminate wasteful spending, and make all government transactions easier to monitor and assess."
Sen. Sherwin Gatchalian has filed a bill seeking to establish a new civil registration and vital statistics (CRVS) system to prevent foreign nationals from fraudulently acquiring Philippine citizenship.
President Ferdinand Marcos Jr. has signed into law a measure that allows his office to dissolve or merge government agencies and positions to “eliminate, redundancies, overlaps, and duplications in its operations and simplify its rules and regulations… while protecting the welfare of civil servants and other government workers.“
The Department of the Interior and Local Government (DILG) is aiming to roll out a unified 911 emergency call system in July.
The Marcos administration is ready to work with the “legitimate” opposition to advance the interests of the nation, but would fight “obstructionists” who are derailing policies for their personal interests, Malacañang said yesterday.
The British Chamber of Commerce Philippines (BCCP) looks forward to the newly-elected Senate officials and the 20th Congress to prioritize further economic liberalization to assist in driving the country’s economic growth.
Principal Deputy Assistant Secretary of State for East Asian & Pacific Affairs Jonathan Fritz said in a recent media roundtable hosted by the US Embassy in Manila that while the US will continue its assistance to the Philippines despite recent revelations, they will take on the responsibility of ensuring the funds are being well-spent.