ECCP at Work

ADB keeps Philippine growth forecast for 2025

The Asian Development Bank (ADB) maintained its gross domestic product (GDP) growth forecast for the Philippines this year, while trimming its projection for 2026, amid heightened global uncertainty.

Philippines trade deficit at $3.5 billion in August

The Philippines posted a trade deficit of $3.5 billion for August, the lowest in six months, preliminary official data showed on Tuesday.

PH external debt service down 6.2% at end-June

The Philippines’ external debt service burden has declined to $6.72 billion as of end-June, down by 6.2 percent from $7.164 billion in the corresponding period last year, based on the latest central bank data.

PEZA greenlights nearly P49 billion worth of investments in September

The Philippine Economic Zone Authority (PEZA) has already achieved over 60% of its target approvals this year after greenlighting P48.87 billion worth of investment pledges in September.

Euro investors wary of corruption, red tape

An official of a foreign chamber of commerce has expressed hope that the government will be able to address issues regarding anomalies in infrastructure projects, noting that it has been affecting investors’ sentiment.

‘Government may raise rice tariffs to 35%’

The government is reviewing the country’s rice tariffs and may raise these to as much as 35 percent after the current import ban ends, Agriculture Secretary Francisco Tiu Laurel Jr. said yesterday.

PH nets nearly P3-B digital VAT from tech companies

The government has collected nearly P3 billion so far from technology firms under a 12 percent value-added tax (VAT) on digital services, capturing revenues that had long proved elusive amid the rapid growth of the online economy.

Diesel, kerosene up anew as Trump threatens tariffs on Europe

Escalating tensions in oil-producing nations are driving another round of fuel price hikes, with diesel and kerosene set to rise for the sixth week in a row.

Philippines to extend 60-day ban on rice imports

Philippine President Ferdinand Marcos Jr has ordered to extend the country’s ban on rice imports beyond 60 days, his office said on Friday, but it did not specify how long the extension would last.

Proposed changes to REIT rules coming out in October

The Securities and Exchange Commission (SEC) is set to introduce changes to a law regulating real estate investment trusts (REITs) next month. This is in hopes of attracting more investors to the growing industry and make the Philippine corporate sector “one of the best in Southeast Asia.”

PEZA AI Tech Academy due to launch in October

The Philippine Economic Zone Authority (PEZA) said it hopes to launch an Artificial Intelligence (AI) Tech Academy in October to upskill the ecozone workforce.

BIR needs to be mobilized in anti-corruption effort — ACG

The Bureau of Internal Revenue (BIR) needs to be set loose against those involved in corrupt public works projects, the Asian Consulting Group (ACG) said.