The Bangko Sentral ng Pilipinas (BSP) has been focusing on financial stability since mid-2009 and one of the ways through which the central bank was able to monitor key developments in the country’s finance sector is through the Financial Stability Report (FSR). The report provides a thematic approach and an in-depth analysis of recent developments […]
Agriculture plays a key role in the Philippine economy. It contributes an average of 20 percent to the country’s Gross Domestic Product (GDP) and now also involves about 40 per cent of Filipino workers. The sector also impacts society in many ways, including, supporting livelihoods through food, habitat, and jobs, as well as in providing raw materials […]
Based on preliminary data from the Bangko Sentral ng Pilipinas (BSP), the Philippines’ gross international reserves (GIR) level has settled at US$103.4 billion as of the end of January 2024, reflecting a US$.4 billion difference from the end of December 2023 reported level of US$103.8 billion. The BSP’s reserve assets consist of foreign investments, gold, […]
Strengthening the corporate bond market is high on the list of priorities of the Financial Stability Coordination Council (FSCC) in 2024. In its last meeting for 2023, the Council noted that the Philippine financial market remains strong despite fresh rounds of global geo-political risks. Assessing various measures, the FSCC believes that current market behavior is […]
The Philippines is expected to have the fastest growth rate in Southeast Asia, but the Asian Development Bank (ADB) has maintained its economic growth projections for both this year and next. The international lender stated in its December Asian Development Outlook reports that it anticipates the Philippine economy to grow by 5.7 per cent this […]
The Monetary Board has approved the new set of 2023 and 2024 balance of payments (BOP) projections during its December 14 meeting. The new set of BOP projections incorporates the latest available data and developments. IMAGE CREDIT: https://www.thebalancemoney.com/ The emerging external outlook for 2023 and 2024 is primarily influenced by the same set of factors […]
According to the World Bank, encouraging the expansion of digital service exports can aid the Philippines in overcoming its development issues. IMAGE CREDIT: https://www.worldbank.org/ The Philippines and other developing economies face future problems and global uncertainties. They will be well-positioned to handle these issues if they export digital services, according to Souleymane Coulibaly, Chief Country […]
A team of experts from the International Monetary Fund (IMF) led by Mr. S. Jayanath Peiris recently conducted a series of discussions on the Philippine economy as part of its 2023 Article IV Mission, an annual bilateral consultation with member countries where an IMF Mission Team meets with government and central bank officials to discuss […]
By Jan Michael Carpo, Reporter The Asian Development Bank (ADB) has reduced its economic growth forecast for the Philippines in 2023 due to rising prices and outside challenges. In its “Asian Development Outlook September 2023 report,” the ADB stated that it is lowering its growth forecast for the country to 5.7 percent this year — […]
In a recent dialogue with the country’s top economic managers held at Doha in Qatar last September 10, entitled “PH Dialogue: Economic Outlook and Opportunities,” the Bangko Sentral ng Pilipinas (BSP) underscored its readiness to safeguard the national government’s inflation target. According to BSP Deputy Governor Francisco G. Dakila, Jr., the average inflation for 2023 […]
