IMF GDP forecasts for select Asia-Pacific economies

Source: BusinessWorld

Inflation remained elevated last month, likely settling between 7.5 and 8.3 percent, as higher electricity, water, fuel and food prices continue to hound consumers, according to the Bangko Sentral ng Pilipinas (BSP)...

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While it improved a notch, the Philippines has retained its score and remains among the “significant decliners” among Asia-Pacific countries included in the latest Corruption Perception Index (CPI) of Berlin-based Transparency International...

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The World Bank has approved nearly P33 billion in fresh funding for the Philippines to rebuild the country's economy and strengthen the financial sector...

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The International Monetary Fund (IMF) is maintaining its growth outlook for the Philippines over the next two years despite predictions of a global economic downturn...

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Revenge spending or pent-up demand is one of the strongest growth drivers of the Philippine economy this year, but this rise in consumption would not be enough for GDP growth to exceed 6 percent this year...

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The Philippines is still not out of the emergency phase of the COVID-19 pandemic despite the “manageable” situation of cases and hospitalizations being kept to a minimum despite the many in-person gatherings over the holidays...

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A sovereign wealth fund (SWF) will be helpful for the Philippines’ development efforts especially if it has flexibility in funding sources and is insulated from politics, according to United States-based nonprofit Milken Institute...

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An endocrinologist and expert in nuclear medicine has called a proposal to repeal the law requiring the iodization of salt a "preposterous" idea...

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Rep. Joey Salceda, chair of the House ways and means committee, is pushing for higher taxes on “luxury” or nonessential goods on top of other current taxes, a move which may earn the government around P15 billion in additional revenues...

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The Senate Blue Ribbon Committee chair has filed separate bills seeking to abolish the Procurement Service of the Department of Management and Management (PS-DBM) and mandating stricter screening requirements for bidders in government projects...

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The Securities and Exchange Commission's (SEC) PhiliFintech Innovation Office (PhiliFINNO) has partnered with the University of the Philippines Law Center (UPLC), through the University of the Philippines Legal Center Research Program, for the conduct of joint research and capacity-building projects focusing on cryptocurrency and financial technology (fintech) regulation...

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The Philippine National Police has recommended the inclusion of online cockfighting, also known as “e-sabong,” in the list of illegal gambling activities penalized under Presidential Decree (PD) No. 1602 which serves as the country’s anti-illegal gambling law...

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Manila and Moscow have signed a cooperation agreement to bolster ties between the two megacities, in a move seen to lead to partnership deals on trade ties, health care, environment, and investments, among others...

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The United States may pursue a free trade agreement (FTA) with the Association of Southeast Asian Nations (Asean) as it seeks to boost economic activities with the major economic bloc, which bodes well for the Philippines...

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The China Coast Guard (CCG) maintained near-daily patrols at key features across the South China Sea last year, including two Philippine-held outposts, according to a new report by a Washington-based think tank...

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Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China's lifting of zero-Covid restrictions provides another boost...

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Most traders believe global inflation has peaked, while potential recession has emerged as the main risk to markets this year, according to a survey released on Wednesday...

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As Britain endures a cost-of-living crisis, public libraries and other community hubs are providing "warm spaces" for vulnerable members of society to stay safe and access free food this winter...

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Oil prices climbed on Wednesday underpinned by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world’s largest oil user may face a recession because of further interest rate hikes...

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China leads the world in counterfeit and pirated products, the office of US Trade Representative (USTR) Katherine Tai said in a report on Tuesday which identified WeChat, China’s most popular chat app, as “one of the largest platforms for counterfeit goods."...

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Wall Street stocks rallied Tuesday on mostly good corporate earnings after a mixed session in overseas markets ahead of key central bank decisions...

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The United States is readying more than $2 billion worth of military aid for Ukraine that is expected to include longer-range rockets for the first time as well as other munitions and weapons, two US officials briefed on the matter told Reuters on Tuesday...

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School-aged students lost more than a third of a year's worth of learning early on in the pandemic and have still not caught up, posing "a real problem for this generation," researchers warned on Monday...

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Two years after a coup snuffed out Myanmar's short-lived democratic government, the Southeast Asian country's military is planning elections that analysts warn could spark further bloodshed as opposition to junta rule rages on...

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Planting more trees in urban areas to lower summertime temperatures could decrease deaths directly linked to hot weather and heatwaves by a third, researchers said Wednesday...

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Pope Francis denounced the “poison of greed” driving conflicts in Africa as he began a visit to Democratic Republic of Congo on Tuesday, saying the rich world had to realize that people were more precious than the minerals in the earth beneath them...

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With US Covid-19 deaths averaging 500 a day, down from a peak of more than 3,000 two years ago, the White House plans to end national and public health emergencies on May 11...

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Huge crowds marched across France on Tuesday to say “non” to President Emmanuel Macron’s plan to make people work longer before retirement, with pressure in the streets intensifying against a government that says it will stand its ground...

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Around one million doses of bivalent COVID-19 vaccines from the COVAX Facility are expected to arrive in the country by the end of March, the Department of Health (DOH) said...

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President Ferdinand R. Marcos Jr. is eyeing an initial P1-billion budget to jumpstart the proposed housing subsidy program of the Department of Human Settlements and Urban Development (DHSUD)...

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The Commission on Higher Education (CHEd) is the stumbling block to quality education in the country, The Manila Times Chairman Emeritus Dante A. Ang said on Tuesday...

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President Ferdinand Marcos Jr. on Tuesday called on the Department of Social Welfare and Development (DSWD) to continue "calibrating" the government's social protection initiatives, particularly the Pantawid Pamilyang Pilipino Program (4Ps), to address poverty...

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The government has allotted more than P151 billion to continue the major social protection service programs of the Department of Social Welfare and Development, the Department of Budget and Management (DBM) said on Tuesday...

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A total of 404 young students in various parts of the country took their own lives and 2,147 others attempted suicide during Academic Year 2021-2022 when most schools were still shuttered because of the pandemic...

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Threatening to arrest investigators of the International Criminal Court (ICC) who visit the country would only signal to the world that the Philippines was a “rogue” state, activists said on Tuesday after chief presidential counsel Juan Ponce Enrile issued such a warning...

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While there was a commitment to address issues affecting their net take-home pay, public school teachers said it was a “great disappointment” that nothing was said about their call for salary upgrades when Vice President and concurrent Education Secretary Sara Duterte delivered her report on the state of education in the country...

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US Defense Secretary Lloyd J. Austin’s visit to the Philippines would probably lead to Manila getting more military hardware from its top ally, political analysts said on Wednesday, citing his ties to the American defense industry...

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President Ferdinand R. Marcos, Jr. has approved the creation of a water resource management body, which will be under the department overseeing the country’s natural resources, according to the presidential palace...

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The government on Wednesday assured that the payout of COVID-19 allowance to health workers will not be affected by the expiration of a 2020 state of calamity that was declared due to the health crisis...

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The Marcos government’s advisors from the business community asked the Education department on Wednesday to work with the private sector on updating the curriculum for learners and designing training programs for them...

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Sugar industry groups want the Sugar Regulatory Administration (SRA) to trim the volume of its planned sugar import to 350,000 metric tons (MT) from 450,000 MT...

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Loans extended by the country’s large banks grew by 13.4 percent year-on-year to a total of P10.9 trillion in December 2022, slower than the 13.9 percent recorded in November as banks were more sensitive to risk during the fourth quarter of 2022...

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Concers over funding and safeguards continue to hound the proposed Maharlika Investment Fund (MIF), which the Finance department insists is needed to accelerate the country's development...

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Growth in bank lending slowed in December, data from the Bangko Sentral ng Pilipinas (BSP) showed, reflecting the impact of higher interest rates...

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Producer prices slowed for a third straight month in December, the Philippine Statistics Authority (PSA) reported on Tuesday, expanding by 5.1 percent year on year compared to the 6.2 percent recorded in November...

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An official of the Sugar Regulatory Administration (SRA) on Tuesday blamed speculators for the spike in the retail prices of sugar in the local markets as the cost of refined sweetener reached as high as P120 per kilo...

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The president of the Management Association of the Philippines (MAP) on Tuesday said that the ease of doing business remains a top private sector concern in the country, placing first among the top 10 considerations of local companies...

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House Speaker Martin Romualdez on Tuesday afternoon urged for closer economic cooperation with the United States (US) to take advantage of the Philippines’ record-breaking economic growth in 2022...

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The amount is higher than the previously projected P9.50 per kilo increase and translates to an additional P126.50 per 11-kilo tank used by most households...

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The Management Association of the Philippines (MAP) said it is cautiously optimistic about 2023, adding that there needs to be a “high degree” of collaboration across industries and sectors...

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A Sugar Regulatory Administration (SRA) board member said production could rise if the sugar milling season is moved back to its “proper” start date of October...

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The Philippines has to “restart” its talks with the United States for the reauthorization of the US Generalized System of Preferences (GSP), a mechanism that provides for duty-free exportation of select goods from the Philippines...

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The Metropolitan Waterworks and Sewerage System (MWSS) said that a total of 222,221 customers of Maynilad Water Services, Inc. affected by the water service interruptions in areas served by the concessionaire’s Putatan water treatment plants will receive a rebate...

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Pet food demand in the Philippines is expected to rise 9% in 2023 in line with growing pet ownership, the US Department of Agriculture (USDA) said...

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The Metropolitan Waterworks and Sewerage System (MWSS) said that a total of 222,221 customers of Maynilad Water Services, Inc. affected by the water service interruptions in areas served by the concessionaire’s Putatan water treatment plants will receive a rebate...

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