In a disclosure to the stock exchange on Monday, the property unit of the SM Group reported a consolidated net income of P14.4 billion in the first 9 months, down 48% year-on-year. Press Release: Philippines: High impact projects and critical reforms key to regaining higher growth, Full Report: Philippines Economic Update, October 2019, Environmental and Social Policies for Projects.
At its 1 October monetary policy meeting, the Central Bank of the Philippines (BSP) decided to leave the overnight reverse repurchase facility rate at a record low of 2.25%. This almost means wiping out any growth for the year. The Philippine government’s expansionary fiscal policies for 2019 was put on hold as the delayed passage of the 2019 public budget impacted the pace of public spending significantly in the first half of the year, resulting in substantial underspending.
Petron Corp. is expecting to see lesser losses in the second half, but emphasized that it cannot regain incurred losses in... Wilcon reports P886 million net income from January to September.
What are the main trade-offs and options that can be taken to restore and protect the economy? Client Log In, Facebook The Philippines’ growth outlook is weakened by a difficult external environment and domestic challenges, as growth is expected to slow from 6.2% in 2018 to 5.8% in 2019, before recovering to 6.1% in 2020 and 6.2% in 2021. At its 1 October monetary policy meeting, the Central Bank of the Philippines (BSP) decided to leave the overnight reverse repurchase facility rate at a record low of 2.25%. Wilcon Depot, the listed home building materials provider, posted a lower net income in the nine months to September amid... Banks continued to impose tighter overall credit standards for real estate loans amid less favorable economic conditions and... GOCCs subsidies hit P200 billion in 9 months. The Philippine economy has been on course to fire up its engines and that requires major economic reforms still. The national government has extended nearly P200 billion in subsidies to state-run firms from January to September to support... Closure of refineries not worrisome — BSP. Mainly, this is to enable the government to deal with the budgetary needs of providing a wide social protection network for the citizenry and to pursue the fight against the pandemic. Private consumption was the main growth driver, as growth recovered to 5.8% year-on-year in the first half of 2019 from 5.3% during the same period last year, driven by moderating inflation, steady remittance inflows, an improving job market, and an increase in economic activity from election-related spending.
(Updated) The clinical trial of candidate vaccines against coronavirus disease led by the World Health Organization will start in December, the Department of Health said Monday. What is in store as the government navigates what needs to be done? With many developing countries facing the prospects of a deep recession , the Philippines could further turn to institutions that will assist in weathering the storm. The impact of the closure of major refineries on inflation is not worrisome amid the continued decline in oil prices in the... Australia's Vaxine eyes coronavirus vaccine trial in Philippines — DOST.