Philippine economy predicted to face recession World

Philippine economy predicted to face recession

The Philippines’ gross domestic product (GDP) will likely shrink by 5.7-6.7 percent in the second quarter of 2020, much higher than the 0.2 percent contraction in the first quarter, according to Governor of the Bangko Sentral ng Pilipnas (BSP) Benjamin Diokno.
Philippines GDP falls for first time since 1998 World

Philippines GDP falls for first time since 1998

The Philippines’ GDP shrunk 0.2 percent in the first three months of 2020, recording the first contraction since the fourth quarter of 1998, announced the Philippine Statistics Authority (PSA) on May 7.
IMF cuts growth forecast for Philippines World

IMF cuts growth forecast for Philippines

The International Monetary Fund (IMF) has further slashed its economic growth forecast for the Philippines for 2019 and 2020 to 5.7 percent and 6.2 percent, respectively, as the economy slowed down in the second quarter and external environment worsens.
Philippines: Q4’s GDP growth up 6.3 percent World

Philippines: Q4’s GDP growth up 6.3 percent

The Philippines’ GDP growth rate for the fourth quarter of 2018 was edged up 6.3 percent from the same period last year, higher than the previous prediction of 6.1 percent, the Philippine Statistics Authority said on April 4.
Philippines revises down 2019 GDP growth target World

Philippines revises down 2019 GDP growth target

The Philippines on March 13 lowered its GDP growth target for this year to 6-7 percent, instead of 7-8 percent, citing the impact of a delay in the approval from the legislature for this year's budget.
Philippines posts high economic growth World

Philippines posts high economic growth

The Philippines registered a high level of economic growth in 2017 and 2018, according to Secretary of Department of Budget and Management Benjamin Diokno.
ADB loan helps Philippines expand financial services World

ADB loan helps Philippines expand financial services

The Asian Development Bank (ADB) on September 19 announced that it had approved a 300 million USD loan to support the Philippine government's effort to expand financial services across the country, especially among entrepreneurs, small businesses, farmers, workers, and individuals, including women and vulnerable households.
Philippines enjoys 5.1 percent rise in trade in May ASEAN

Philippines enjoys 5.1 percent rise in trade in May

The Philippines' total external trade in goods in May reached 15.22 billion USD, up 5.1 percent from 14.48 billion USD recorded in the same month last year, according to the Philippine Statistics Authority (PSA).