Consumer prices remained tame in May despite a robustly growing economy, with the government optimistic that the favorable combination of modest inflation and brisk economic expansion will be sustained.
The Bankers Association of the Philippines said Wednesday its members will not comply with the Comelec’s “money ban,” which the group said would be disruptive to business and commercial transactions within the economy.
Visiting American economist Nouriel Roubini hailed the Philippines as an “economic success,” citing the country’s potential to move toward a higher growth rate of at least 7 percent a year.
An international agency has raised the credit rating of the Philippines from two notches to just one notch below investment grade, a positive development for the country amid global economic woes.
Individuals may already apply for tax identification numbers (TINs) online by 2013, BIR Commissioner Kim Henares said during the Philippine Economic Briefing held Monday at the Philippine International Convention Center.
The Philippines can sustain its robust growth momentum in the second half, said Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. during the Philippine economic team’s economic briefing being held Monday at the Philippine Internatioanal Convention Center.
Consumer sentiment in the Philippines stayed in the negative territory but improved in the third quarter.
The international business magazine Global Finance has named Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas one of the world’s best central bankers for 2012.
Remittances from overseas Filipinos posted a new monthly record high of $1.8 billion in June, aided by the strong global demand for Filipino workers even as the world economy continues to struggle with the dampening effects of the eurozone crisis.
The Philippines’ external debt ratio—total foreign debt of the government and private sectors taken as a percentage of the country’s gross domestic product—dropped in the first quarter of the year even though the amount in absolute terms went up, the central bank announced Friday.
The Bangko Sentral ng Pilipinas said Friday the country’s banking system remains strong and well-capitalized.
The Bangko Sentral ng Pilipinas has placed Export and Industry Bank Inc under receivership of the Philippine Deposit Insurance Corp. as the bank was found to have liabilities that could not be covered by its assets.
