ECCP at Work

PHL economy expands 5.5% in Q2
Preliminary data released by the Philippine Statistics Authority (PSA) showed Philippine gross domestic product (GDP) grew by an annual 5.5% in the April-to-June period, up from the 5.4% in the first quarter.

Inflation cools further in July to 0.9%
According to the data from the Philippine Statistics Authority (PSA), headline inflation sharply slowed to a near six-year slow in July as utilities and food costs continued to ease. The  data showed  that the consumer price index rose 0.9% year on year in July, slower than the 1.4% in June and 4.4% clip a year ago.

Marcos suspends rice imports for 60 days
President Marcos has ordered a 60-day suspension of rice imports starting Sept. 1 to protect local farmers from falling palay prices during harvest season.

Philippine jobless rate eased to 3.7% in June
The Philippine economy grew by 5.5% in the second quarter of 2025, slightly faster than the previous quarter but below expectations, and slower than last year’s 6.5%. Growth was driven by easing inflation, which boosted consumer spending, while government spending was limited by an election-related ban.

Gross international reserves slip to $105.7B in July
The Philippines’ gross international reserves (GIR) slipped in July amid lower gold prices and as the government paid back more of its foreign debt, preliminary data from the central bank showed.

New ERC chairman sees rate review backlog cleared within four years
The incoming chairman of the Energy Regulatory Commission (ERC) committed to clearing the backlog of rate reset applications within four years by streamlining the review process.

Philippine farm output growth accelerated to 5.7% in Q2
The Philippines' agricultural production grew by 5.7% in Q2 2025, rebounding from last year's contraction, mainly driven by strong crop and poultry output amid favorable weather and government support.

ERC flags Ilijan power plant operator’s 2022 delivery gaps
The Energy Regulatory Commission (ERC) has issued a show cause order to South Premier Power Corp. (SPPC), previously wholly owned by San Miguel Corp., over an alleged anticompetitive practice recorded in June 2022.

Marcos gov’t borrows fresh P210B via RTBs
The government was able to borrow over P200 billion via its 31st offering of retail Treasury bonds (RTBs), which were also made available in mobile e-wallet app GCash as part of efforts to broaden the investor base and promote financial inclusion.

ICTSI Q2 profit rises 16% to $244.31M on volume, operational growth
The International Container Terminal Services, Inc. (ICTSI) saw its second-quarter (Q2) attributable net income rise by 15.97% to $244.31 million, driven by sustained earnings across all its port operations.

NGCP clears BuhaWind’s 2-GW wind project for grid link
Buhawind Energy Northern Luzon Corp. (BENLC) has secured approval from the National Grid Corp. of the Philippines (NGCP) for the integration of its 2,000-megawatt (MW) North Luzon Offshore Wind Power Project.

Power rates of 10 rural co-ops lower than Meralco’s
The residential power rates of at least 10 electric cooperatives (ECs) last year were cheaper compared to those of the Manila Electric Co.(Meralco), the country’s biggest electricity distributor.

PSA keeps Q1 GDP growth unchanged
The PSA maintained the Philippines' Q1 2025 GDP growth at 5.4% but revised gross national income down to 7.2% from 7.5% and net primary income to 22% from 24.6%. Several sectoral figures were adjusted, with declines in utilities, finance, and ICT, while manufacturing and real estate saw slight upgrades. These revisions come ahead of the Q2 GDP release, with economists projecting 5.5% growth.

EPI eyes powering up solar projects through 2026
Emerging Power, Inc. (EPI), a unit of Nickel Asia Corp. (NAC), is advancing toward its 1-GW renewable energy goal by 2028, with major solar projects underway in Zambales, Bataan, and Leyte. EPI expects to reach 300 MWp in installed capacity by year-end. Meanwhile, NAC’s net income rose 88% in H1 2025, driven by higher nickel ore prices despite lower shipment volumes due to weather disruptions.