ECCP at Work

Fitch revises Philippines’ outlook to ‘negative’ as energy shock weighs on growth

Credit ratings agency Fitch revised the Philippines’ outlook to “negative” from “stable” on Monday, citing risks to medium-term growth from disrupted public investment and the country’s high exposure to the global energy shock.

April inflation seen topping 5%, raising odds of BSP rate hike

Rising oil prices and second-round effects could push inflation above 5% this month, increasing the odds of a 25-basis-point (bp) rate hike by the Bangko Sentral ng Pilipinas (BSP), according to the University of Asia and the Pacific (UA&P).

BOP deficit widens to $2.64 billion in March

The Philippines’ balance of payments (BOP) deficit widened in March, as persistent external pressures and higher import costs continued to weigh on the country’s external position.

DBM unveils P17.27B nationwide classroom fund for DepEd

The Department of Budget and Management (DBM) has released P17.27 billion to the Department of Education (DepEd) for the construction of 4,960 classrooms nationwide, part of the Marcos administration’s effort to ease overcrowding and expand access to basic education facilities.

MCIA rushes preps for Asean leaders’ arrival

Passengers may need to brace for possible flight delays as Mactan-Cebu International Airport (MCIA) prepares for the arrival of heads of state for Cebu Island’s hosting of the Association of Southeast Asian Nations (Asean) Summit next month.

ADB steps up Asia Pacific support amid war impact

Rising oil, freight, and financing costs linked to the Middle East conflict are prompting the Asian Development Bank (ADB) to accelerate financing support for economies in Asia and the Pacific.

IMF sees Philippine recovery by early 2027 if oil shocks are short-lived

The Philippines could regain its economic momentum later this year or by early 2027 if the energy shocks prove temporary and the local investment climate improves, the International Monetary Fund (IMF) said.

EU, PH business chambers sign partnership deal

The European Chamber of Commerce of the Philippines (ECCP) said over the weekend that it is partnering with the Philippine Chamber of Commerce and Industry (PCCI) to advance joint initiatives, facilitate knowledge exchange, and expand opportunities for business engagement that support trade, investment, and broader economic cooperation.

AmCham, ECCP urge further foreign ownership liberalization

European Chamber of Commerce of the Philippines (ECCP) said in an e-mail that EO 113 complements the Philippines’ proposed free trade agreement (FTA) with the European Union (EU).

DOE setting cap on fuel price hikes in energy emergency

The Department of Energy (DOE) is stepping in to manage the impact of rising oil prices by setting a cap on fuel price increases and rollbacks while the country is under a state of a national energy emergency.

PH fuel supply cover extends to 52 days on lower demand, fresh imports

The Philippines’ total fuel supply is projected to last 52.02 days as of April 17, up from 50.31 days a week earlier, as fresh imports and softer demand lifted available inventories, the Department of Energy said Monday.

‘Early warning signs of credit stress emerging’

Early signs of financial strain are beginning to surface among Filipino borrowers as rising oil prices push up daily expenses, even as headline default rates remain stable, according to fintech firm Advance.AI.

ECCP support boosts new customs policy

The Bureau of Customs (BOC) welcomed the support of the European Chamber of Commerce of the Philippines (ECCP) on the newly implemented Customs Administrative Order (CAO) that extends the validity of importer accreditation to three years and reduces total accreditation related fees.