IMF sees faster PHL growth until 2026
The Philippine economy will continue to accelerate from this year to 2026 as domestic demand remains robust, the International Monetary Fund (IMF) said, but warned risks are tilted to the downside due to possible external shocks.

Government spending to slow in 1st half
Government spending is likely to slow in the first half of 2025 due to the election ban on public works and congressional insertions in the national budget, the Department of Budget and Management (DBM) said.

PH exporters urged to prepare for European Green Deal
Filipino exporters are called to prepare for compliance with the Green Deal policies’ sustainability requirements to increase their competitive advantage in the European Union (EU) market and make it easier for them to penetrate other markets globally.

PH-EU free trade talks to resume in February
Negotiations for the planned free trade agreement (FTA) between the Philippines and the European Union (EU) are set to resume in Manila by the middle of next month, with expectations of increasing two-way trade by as much as 6 billion euros or about P363.8 billion.

Finland signals need for tech, healthcare workers
Finland’s ageing population has created gaps in its workforce that Filipinos can fill, particularly in technology and healthcare, members of a Finnish delegation said.

Foreign digital firms in PH only have 4 months left to comply with new VAT law
Foreign digital service providers (DSP) operating in the Philippines only have four months to comply with the mandatory requirements following a landmark law imposing a 12% value-added tax (VAT) on overseas digital services.

DA creates new logistics unit to lower retail prices
The Department of Agriculture (DA) is establishing the Agricultural and Fisheries Logistics Office (AFLO), which will be tasked with developing long-term plans to lower retail prices while reducing post-harvest losses.

DOE: 16,600 MW offshore wind projects to start producing power by 2028
Sixteen frontrunner offshore wind (OSW) projects with a total capacity of 16,652 megawatts (MW) will start generating clean energy by 2028, the Department of Energy (DOE) said.

Finance chief sees inflation, not Fed pace, to shape rates
The Philippines could reduce key policy rates more aggressively than the United States Federal Reserve (Fed), but the pace will hinge on inflation, according to Finance Secretary Ralph G. Recto.

Recto: Gov’t might have missed 2024 growth target
Economic growth in 2024 might have fallen short of the Marcos administration’s target, Finance Secretary Ralph Recto said, no thanks to the powerful typhoons that hit the country late in the season last year.

‘Philippines to post over 6% growth this year’
The Philippine economy is expected to post over six percent growth this year with lower inflation and interest rates to support consumption and investments, according to an official of BDO Unibank Inc.

Budget for RE development program hiked to P155 million
The Marcos administration has ramped up funding for the country’s renewable energy (RE) development program this year, fueling the ambitious push toward cleaner, more sustainable power.

Supply chain disruptions, skills gap expected to delay PHL AI adoption
The Philippines’ adoption of AI this year is expected to be hampered by supply chain vulnerabilities and the digital skills gap, according to software firm Hitachi Vantara.

Commercial vessels could deplete fish stocks in municipal waters – NGO
Oceana Philippines warned of the potential depletion of fish stocks after a Supreme Court resolution allowing commercial fishing operations in municipal waters. “We are worried that this court decision will result in the depletion of our fish stocks [...], displacement of our small, municipal fisherfolk, and destruction of marine habitats and spawning grounds of juvenile fish needed to restore our fisheries,” Oceana Vice President Gloria E. Ramos said in a statement.

No rice shortage amid plans to declare food security emergency
The Department of Agriculture (DA) on Saturday clarified that there is no rice supply shortage amid plans to declare a food security emergency. “We would just like to reiterate: there is no shortage in the supply of rice in the country,” DA Assistant Secretary Arnel de Mesa stressed at the Saturday News Forum in Quezon City.

Digital VAT draft regulations to allow 3rd party local reps
The Bureau of Internal Revenue (BIR) will allow non-resident digital service providers (DSPs) to appoint a local third-party representative to handle administrative matters for them with regard to the value-added tax (VAT) law.

DMW: 70,000 fake online job offers thwarted 
The Department of Migrant Workers (DMW) has shut down more than 70,000 online postings for jobs overseas on Facebook and Tiktok, saving potentially thousands of Filipinos from paying hard-earned money for non-existent jobs, or worse, slave-like working conditions abroad.

Second Trump term adds to PHL economic uncertainty
The second term of US President-elect Donald J. Trump could add more uncertainty to the Philippine economy, which could possibly impact trade prospects, financial flows, and monetary policy, analysts said.

External debt service burden rises at end-Oct
The country’s external debt service burden jumped by almost 20% as of end-October, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

Palay output target set at 20.46 MMT in 2025 
The Department of Agriculture (DA) said on Monday that it is expecting the harvest of palay (unmilled rice) this year to exceed 20 million metric tons (MMT), with officials seeking to fund a rice productivity program for an additional P10 billion.

Small egg producers targeted in livelihood support program 
The Department of Agriculture (DA) said it set aside P85.19 million to establish a network of egg production facilities for small-scale growers.

Senate passes bill giving PSALM five more years of corporate life 
The Senate approved on third and final reading on Monday a bill extending the corporate life of the Power Sector Assets and Liabilities Management Corp. (PSALM) for five years, ahead of its original expiration date of June 2026.

Building permit approvals fall in November
Approved building permits fell 2.7% year on year in November to 12,050, the Philippine Statistics Authority (PSA) reported on Monday.

NCR retail price growth eases to four-year low 
Retail price growth of general goods in the National Capital Region (NCR) eased in 2024, the weakest reading in four years, the Philippine Statistics Authority (PSA) reported.

BSP seeking to expand share of youth holding bank accounts from current 27%
The Bangko Sentral ng Pilipinas (BSP) said it is seeking to raise the level of financial inclusion for young people from the current 27% of 15 to 19-year-olds holding bank accounts.

Offshore wind to add 16 GW in new capacity — Energy dep’t
The Department of Energy (DoE) said it is projecting more than 16 gigawatts (GW) of new capacity from offshore wind power projects.

BPO sector seen to drive PHL growth
Citigroup, Inc. (Citi) expects the Philippine economy to expand by around 6% this year, partly driven by sustained growth in the business process outsourcing (BPO) sector.

DoTr weighs options for MRT-3
The Department of Transportation (DoTr) is still considering two options for the planned bidding of the operations and maintenance (O&M) contract for Metro Rail Transit Line 3 (MRT-3), an official from the Transportation department said.

DoF chief seeks to woo global investors in Davos 
More investments would be needed for the Philippines to be able to reach the high end of its growth target, Finance Secretary Ralph G. Recto said.

Elections may help boost consumer goods firms’ bottom line 
Listed consumer goods companies may see a boost in their bottom line this year as demand is expected to increase ahead of the May elections, analysts said.

Marcos pushes for Tesla EV plant 
President Ferdinand R. Marcos, Jr. on Monday urged Tesla, Inc., a multinational automotive and clean energy company, to manufacture electric vehicles (EVs) in the country, citing government efforts to advance the country’s EV transition.