ECCP at Work

Philippine economy could grow past 4% in fourth quarter

After a weak first half and a potentially sluggish third quarter, Philippine economic growth could recover to more than 4 percent in the last three months of the year amid a massive catch-up in infrastructure spending.

July trade gap widens further to $5.97B as imports grow twice as fast as exports

The country’s trade deficit widened further in July, reaching $5.97 billion in July, 34.9 percent higher than the $4.43 billion recorded a year earlier. Imports accounted for 63.4 percent of total trade, while exports made up the remaining 36.6 percent.

Fiscal tradeoff between revenue, spending to harm growth—Fitch

Lower revenue expectations are forcing the Philippines to scale back infrastructure spending, creating a fiscal tradeoff that could weaken growth.

Philippines’ August PMI grows at fastest pace in nearly 10 years

PHILIPPINE manufacturing activity expanded at its fastest pace in nearly a decade in August, driven by stronger new orders and improved production efficiency, S&P Global said. 

Philippines’ foreign debt service bill climbs at end-May

THE Philippines’ debt service on foreign loans continued to rise as the government made higher principal payments as of May, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. 

Peso touches new record low of 62.35-per-dollar

The Philippine peso opened the shortened trading week at a new record low as broad strength in the US dollar pressured the currency.

‘Reliance on imports makes PHL at risk while $ is strong’

 An analyst warned that the Philippines remains vulnerable during periods of sustained dollar strength given the country’s reliance on imported fuel and other essential commodities. The peso is expected to remain volatile in the near term.

PSEi surges on strong factory data; peso weakens vs US dollar

Stronger factory data lifted the Philippine Stock Exchange index (PSEi) on Tuesday, though the peso weakened against a rising United States dollar.

Gov’t spending efficiency improves

The national government’s cash utilization improved at the start of the second half of the year as the Marcos administration sought to ramp up spending to support economic growth, latest data from the Department of Budget and Management (DBM) showed.

PSE to relax SME listing sponsorship rules

The Philippine Stock Exchange Inc. (PSE) is seeking to ease requirements for listing sponsors as part of efforts to encourage more small, medium and emerging (SME) companies to tap the stock market.

Meralco set to evaluate lowest bids for 600-MW supply

MANILA Electric Co. (Meralco) is set to evaluate the three lowest bids for its 600-megawatt (MW) baseload supply requirement, with offers from generators under San Miguel Global Power Holdings Corp. (SMGP) and Aboitiz Power Corp. (AboitizPower) starting at P5.3573 per kilowatt-hour (kWh).

CTA voids P78.3-M VAT collection vs Euro Autocars

THE COURT of Tax Appeals (CTA) has voided the Bureau of Internal Revenue’s (BIR) collection of a P78.32-million value-added tax (VAT) assessment against Euro Autocars, Inc.