Business

IMF ups Philippine growth outlook for 2023 to 6%, but down 5.8% in 2024

WASHINGTON/MAKATI CITY — The International Monetary Fund (IMF) sees the Philippines growing fastest in emerging and developing Asia this year. IMF, at the same time, upgraded its economic outlook for the country to 6% despite a projected slump in the global economy….

Manny Villar wealthiest Filipino for 5th straight year – Forbes

By Jennifer T. Santos MAKATI CITY – For the fifth straight year, former Senate President and Speaker Manuel “Manny” Villar Jr. remains the country’s richest Filipino based on the Forbes Billionaires List for 2023. Villar, who is a real estate…

Philippine gov’t debt soars to P13.8 trillion

By Jeanne Michael Penaranda MANILA – The national government’s total outstanding debt has reached P13.75 trillion as of end-February 2023, according to the Bureau of the Treasury (BTr). In a statement, the treasury  bureau said that for the month, the…

Bangko Sentral raises interest rates again; Fitch Solutions sees last hike for 2023 in May

MANILA – With inflation expected to remain elevated in most of 2023, Fitch Solutions Country Risk and Industry Research forecasts another 25 basis points hike in the central bank’s key rates in May, seen as the last for the year. Last…

KathNiel, Coco Martin among top celebrity taxpayers in 2022

The Bureau of Internal Revenue (BIR) honored top celebrity taxpayers for 2022 which include Kapamilya stars Coco Martin, Kathryn Bernardo and Daniel Padilla. The regional office of the BIR in Quezon City said that the tandem, also known by their…

Inflation still high at 8.6%; President okays inter-agency committee to combat inflation

MANILA – President Ferdinand R. Marcos Jr. has approved the creation of a high-level inter-agency advisory body to mitigate inflation and ensure food and energy security,  National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan reported. Balisacan said the advisory body…

Philippines debt rises to P13.7-Trillion as of January 2023

MANILA – The national government’s total outstanding debt rose to P13.7 trillion as of the end of January from P13.42 trillion the previous month, the Bureau of Treasury saidy. The P279.623 billion or 2.1 percent increase was due to the…