Julito G. Rada

PH overcomes global headwinds to post fastest growth in ASEAN

December 18, 2023
The Philippine economy weathered 2023’s global headwinds, marked by ongoing conflicts in Ukraine and the Middle East, elevated inflation and rising interest rates. Its gross domestic product (GDP) grew 5.9 percent in the third quarter, the fastest expansion in the Association of Southeast Nations (ASEAN). Easing inflation Inflation surged to 8.7 percent in January, threatening […]
The post PH overcomes global headwinds to post fastest growth in ASEAN appeared first on Manila Standard.

BSP seen keeping rates unchanged in December

November 26, 2023
The Bangko Sentral ng Pilipinas (BSP) may consider pausing again in its last policy meeting for the year, especially if inflation decelerates further and the peso remains stable, an economist said over the weekend. Rizal Commercial Banking Corp. chief economist Michael Ricafort said in a report the BSP could also match the next Federal Reserve […]
The post BSP seen keeping rates unchanged in December appeared first on Manila Standard.

BSP keeps interest rate at 6.5%

November 16, 2023
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) kept the overnight borrowing rate steady at 6.5 percent amid the slowdown in inflation in October and the stronger gross domestic product expansion in the third quarter. The BSP, however, remained hawkish, saying it might resume monetary policy tightening if needed to make sure inflation […]
The post BSP keeps interest rate at 6.5% appeared first on Manila Standard.

Use excess RCEF collections to help rice farmers—Marcos

October 9, 2023
President Ferdinand Marcos Jr. has ordered the Department of Agriculture to use the excess collections of the Rice Competitiveness Enhancement Fund (RCEF) to help rice farmers. The President, in a meeting with Agriculture officials recently, said that the excess collections beyond the P10 billion requirement of the RCEF should be used to provide rice farmers […]
The post Use excess RCEF collections to help rice farmers—Marcos appeared first on Manila Standard.

Farmers want Diokno, Balisacan fired over rice tariff cuts

September 15, 2023
Farmers groups on Friday called for the resignation of Finance Secretary Benjamin Diokno and National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan for their support for moves to cut tariff rates on rice imports from 35 percent to 10 percent. “Today, we stand together to oppose, in the strongest terms, the efforts of Secretaries […]
The post Farmers want Diokno, Balisacan fired over rice tariff cuts appeared first on Manila Standard.

International organization sees Philippines growing 5.9% in 2023

September 12, 2023
The Philippine economy will likely post a slower growth of 5.9 percent in 2023, compared to the 46-year high of 7.6 percent in 2022 amid weaker external demand, the ASEAN+3 Macroeconomic Research Office (AMRO) said Tuesday. AMRO, an international organization that carries out macroeconomic surveillance in the ASEAN+3 region and is composed of the 10 […]
The post International organization sees Philippines growing 5.9% in 2023 appeared first on Manila Standard.

Diokno, economists in favor of Balisacan taking over Agri post

September 11, 2023
Finance Secretary Benjamin Diokno and private sector economists are in favor of seeing National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan lead the Department of Agriculture. Diokno, the head of the economic team, said it was a “sound proposal.” “He [Balisacan] has heard it many times, and Arsi’s undergrad degree is in Agriculture Economics,” […]
The post Diokno, economists in favor of Balisacan taking over Agri post appeared first on Manila Standard.

Unemployment rate lower than last year, higher than in June

September 8, 2023
The country’s unemployment rate in July 2023 fell to 4.8 percent from 5.2 percent a year ago as the economy continues to reopen, resulting in more economic activities, the Philippine Statistics Authority said Friday. National statistician and civil registrar general Dennis Mapa said in an online briefing that the July 2023 jobless rate was, however, […]
The post Unemployment rate lower than last year, higher than in June appeared first on Manila Standard.

Inflation rises to 5.3% on higher rice, food, beverage prices—PSA

September 5, 2023
The rate of inflation rose to a two-month high of 5.3 percent in August after dropping for the last six months, the Philippine Statistics Authority (PSA) said Tuesday, blaming higher prices of food — particularly rice — and non-alcoholic beverages for the increase. National Statistician and Civil Registrar General Dennis Mapa said in an online […]
The post Inflation rises to 5.3% on higher rice, food, beverage prices—PSA appeared first on Manila Standard.

P1.42 trillion eyed for infrastructure under ‘24 budget

September 5, 2023
The government is allocating a bigger P1.42-trillion budget for infrastructure development under the 2024 National Expenditure Program in a bid to spur higher economic growth, Budget Secretary Amenah Pangandman said. In a statement Tuesday, she said the amount is 6.6 percent higher than the P1.33 trillion allotted for this year. “To create more jobs and […]
The post P1.42 trillion eyed for infrastructure under ‘24 budget appeared first on Manila Standard.