Economy

MANILA – The Philippine economy is holding its ground in turbulent global waters, according to a new report from the International Monetary Fund. Wrapping up a week-long visit to Manila, IMF staff led by Elif Arbatli Saxegaard offered a cautiously optimistic view: growth remains solid, inflation is under control, and the central bank has room … Read more

The government has strengthened its programs to reskill and upskill Filipino workers, making them more competitive and enhancing their chances of securing quality jobs, President Ferdinand R. Marcos Jr. said on Wednesday. “Mas mabigat at mas malakas ang suporta ngayon ng pamahalaan para naman kayo ay mas may kakayahan upang makakuha ng magagandang trabaho,” President … Read more

The Philippine economy is poised for a strong rebound in 2024, with the International Monetary Fund (IMF) projecting a 6% growth rate despite global economic challenges. This optimistic outlook comes after a recent visit by an IMF team to Manila, where they assessed the country’s economic performance and future prospects. Led by Elif Arbatli Saxegaard, … Read more

The Philippine economy continues to defy external challenges, with robust growth projected for 2024 and 2025, according to the International Monetary Fund (IMF). Resilient Growth Amid Turbulence In its assessment following a visit to Manila, the IMF team led by Elif Arbatli Saxegaard commended the country’s strong economic performance. Despite global shocks, inflationary pressures, and … Read more

In a recent fireside interview at the Malacañan Palace, President Ferdinand R. Marcos Jr. of the Philippines highlighted the critical need to distinguish between economic and political spheres to foster economic growth while preserving political stability. Speaking at the World Economic Forum (WEF), President Marcos articulated that economic activities should be pursued as long as … Read more

Dubai, United Arab Emirates, 4 December 2023 – The Government of the Philippines’ Department of Environment and Natural Resources announced yesterday at COP28 that it is joining the World Economic Forum’s Blue Carbon Action Partnership to accelerate the restoration and conservation of coastal ecosystems. South-East Asia is home to almost one-third of mangroves globally, with nearly … Read more

President Ferdinand R. Marcos Jr. said on Friday that he and Chinese President Xi Jinping both agreed that the present challenges in West Philippine Sea should not be the sum of the two countries’ relationship as they met on the sidelines of the Asia-Pacific Economic Conference (APEC) summit. President Marcos made the remarks when asked … Read more

The Marcos government is rolling out next month the Lifeline Rate program that will benefit qualified low-income households to help them pay their electricity bills. The Lifeline Rate is a subsidized rate given to qualified low-income electricity customers who are unable to pay their electricity bills at full cost. Among the households who can apply … Read more

MANILA, June 7, 2023 – Improving the efficiency of social protection in the Philippines remains essential to protect the poor and most vulnerable from economic shocks as the country grapples with global uncertainties and domestic risks including high inflation, according to the Philippines Economic Update (PEU) released today by the World Bank. Bucking global trends, strong domestic demand … Read more