The country’s foreign currency reserves dipped a bit in February after the government settled some of its foreign currency debts, settling at $99.3 billion from $100.67 billion in January.

GIR drops to $99.3-B in February

Rising interest rates and stable credit costs would boost the profitability of Philippine banks but high inflation could pose a downside risk as it may erode household savings and dampen credit demand.

Phl. banks to profit from rising interest rates, stable credit costs

Government and private sector economists, who have shared more optimistic forecasts for the country’s growth this year would certainly be disappointed at the Oxford Economics’ less than 5 percent growth forecast for the Philippines in 2023 and 2024 owing to the ‘sticky inflation’ that could dampen growth.

GDP growth won’t reach 5% in 2023-24

Despite bright and rosy projections by the Marcos economic team, the economic growth of the country would even shrink from 7.6 percent in 2022 to just 4.1 percent this year because of global headwinds and a continued elevated inflation

Phl. growth in 2023 to shrink from7.6% to 4.1%

The government’s outstanding debt hit a record high of P13.698 trillion at the end of January as the government ramped up domestic and external borrowings, the Bureau of the Treasury (BTr) said on Tuesday.

January NG debt is at record high of P13.7T

Inflation eased by 0.1 percent in February owing to slight drops in prices of some food commodities. But utilities, rentals and LPG have also caused the continued elevation of inflation.

February inflation sheds 0.1%

The Bangko Sentral ng Pilipinas forecast February 2023 inflation to settle at the range of 8.5 to 9.3 percent.

February inflation settles at 8.5%- 9.3%

With government hard-pressed to control inflation, the Makati Business Club tells government to run after, and punish, profiteers and those sucking consumers of their hard-earned income just to fatten their pockets.

Run after profiteers, MBC tells govt.

The Marcos economic team continued to justify the need for importing food products that are in short supply in the country to avert the rising inflation, which worsens the poverty and hunger incidents in the country.

Govt. justifies importation to tame inflation

The National Economic and Development Authority Board, chaired by President Marcos approved 194 water and physical connectivity projects worth P9 trillion and greenlighted the amendments to the joint venture guidelines to ensure faster implementation of projects.

NEDA okays 194 Infra Projects worth P9-Tr.

NEDA Board oks 194 infra projects worth P9 Trillion

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