philippine economics - updates

Rappler's latest stories on philippine economics

ARTICLE FINDER

PEZA to investors: Please don't leave Philippines

Jul 07, 2020 - 4:20 PM

The Philippine Economic Zone Authority worries that export companies may close shop in the country and just focus on operations somewhere else

House stimulus package eyes P20-B fund to test Filipino workers

May 26, 2020 - 8:42 PM

If passed into law, the proposed Philippine Economic Stimulus Act would finance the COVID-19 rapid tests of Filipino laborers in 2020 and 2021

RAPID TESTING. A health worker gets a blood sample from a resident in Sta. Rosa City, Laguna for a rapid test for COVID-19 on May 21, 2020. Photo by ary Grace dela Cerna/Rappler

Coronavirus exposure prompts PH economic officials to self-quarantine

Mar 12, 2020 - 10:15 AM

(4th UPDATE) The Philippines' economic managers are undergoing quarantine, after interacting with a person who turned out to have the novel coronavirus

President Rodrigo Roa Duterte presides over the 46th Cabinet Meeting at the Malacañan Palace on March 2, 2020. ROBINSON NIÑAL JR./PRESIDENTIAL PHOTO

PEZA asks Senate to delay Citira passage amid coronavirus crisis

Mar 09, 2020 - 5:00 PM

With the coronavirus crisis, Philippine Economic Zone Authority chief Charito Plaza finds an opening to appeal against the Citira bill anew

DELAY. PEZA Director General Charito Plaza speaks at the Senate hearing on the economic impact of coronavirus to the ecozones. Screengrab from Senate of the Philippines' Youtube

Duterte's economic team approves 12 infrastructure projects

Dec 20, 2019 - 9:55 PM

Dennis Uy's unsolicited proposal for the Davao International Airport, the Panay-Guimaras-Negros Bridge, and MRT4 are just some of the projects approved by the Investment Coordination Committee

In a twist, PEZA now supports Citira bill

Oct 09, 2019 - 5:10 PM

The Philippine Economic Zone Authority Board changes its tune after a 'cordial' meeting and now backs the bill seeking to rationalize tax perks

[OPINION] Navigating the new globalization

Sep 19, 2019 - 5:30 PM

It is only through cultivating a high-trust society that this whole-of-society approach to development could work

PEZA chief Plaza doesn't think she's getting fired by Duterte

Sep 11, 2019 - 1:46 PM

'I don't feel I am the one being alluded to....I am facing all this risk because I want to protect the interest of the Filipino people,' says PEZA Director General Charito Plaza

Duterte to fire economic official for incompetence

Sep 11, 2019 - 8:45 AM

Without giving a name, President Rodrigo Duterte says a female official is getting the axe for not matching the performance of others in the economic team

President Rodrigo Roa Duterte delivers his speech during the 2019 Outstanding Government Workers Awards Rites at the Malacañan Palace on September 10, 2019. SIMEON CELI JR./PRESIDENTIAL PHOTO

PEZA urges Congress not to 'tinker' with tax perks for investors

Sep 02, 2019 - 5:50 PM

PEZA Director General Charito Plaza says the current incentives are already 'globally competitive' and could help the Philippines attract investors as companies avoid the US-China trade war

Piñol to economic team: Get out of air-conditioned offices, see reality

Aug 06, 2019 - 5:50 PM

Former agriculture secretary Emmanuel Piñol has some biting words for the government's economic managers

Bangko Sentral cuts interest rates as inflation, growth slow down

May 09, 2019 - 5:10 PM

(UPDATED) The Bangko Sentral ng Pilipinas cuts the key policy rate by 25 basis points, but some economists say the move may have been done too early

World Bank cuts 2019 Philippine growth outlook again

Apr 01, 2019 - 2:30 PM

The World Bank says the Philippines' delayed 2019 budget and El Niño are likely to hurt economic growth

Philippine economic team flies to China for infrastructure projects

Mar 18, 2019 - 9:05 PM

President Rodrigo Duterte's economic team will meet with Chinese counterparts to score new infrastructure deals

Budget fiasco pushes economic team to lower growth target

Mar 13, 2019 - 7:44 PM

The government was optimistic that economic growth could hit 7% to 8%. Now, that lower-end figure is now the highest target.

Gatchalian asks economic team to be 'more transparent' on infra loans

Mar 05, 2019 - 4:10 PM

Senator Sherwin Gatchalian says details of loans for big-ticket infrastructure projects should be available on government websites

TRANSPARENCY. Senator Sherwin Gatchalian urges the Duterte administration's economic team to make public the loan agreements for big-ticket infrastructure projects. Photo by Angie de Silva/Rappler

IN PHOTOS: Museum of Philippine Economic History opens in Iloilo

Feb 12, 2019 - 8:20 PM

The museum features galleries highlighting the industries, trade, and commerce in the Philippines through the years

LANDMARK. NHCP Chairman Dr. Rene R. Escalante (fourth from the left) and Senate Minority Leader Franklin M. Drilon (fifth from the left) unveil the Historical Marker of the Museum, along with other officials. All photos by Carl Don Berwin/Rappler

Consumer, gov't spending to lift PH economy in 2019 – PCCI

Dec 22, 2018 - 7:06 PM

The Philippines' largest business group is optimistic that the country's 'resilient' economy will continue to grow in 2019

'RESILIENT' ECONOMY. The Philippines will continue to enjoy a high growth rate in 2019, according to the PCCI. File photo

[ANALYSIS] Let’s not blame the forecasters for runaway inflation

Dec 19, 2018 - 12:09 PM

Antagonistic remarks only put at risk otherwise friendly relations between government and the private sector

PH internet economy to grow from $5B to $21B by 2025 – Google

Nov 20, 2018 - 3:58 PM

Collectively, Southeast Asia's internet economy will grow from $72B to $240B by 2025, according to Google's report


Malacañang defends UK trip of Cabinet economic team

Sep 27, 2018 - 1:15 PM

An ill-timed trip by the President's economic managers? Presidential Spokesperson Harry Roque says the overseas visit also aims to boost the Philippine economy.

Photo courtesy of Jollibee Foods Corporation

Foreign chambers on Trabaho bill: 'Leave PEZA alone'

Sep 12, 2018 - 5:12 PM

'We are advocating for the continued operation of PEZA as it is now. And also making sure that rationalizing our incentives [that] it is still competitive with the rest of the region,' a business group executive says

INVESTMENTS. Joint Foreign Chambers of Commerce of the Philippines cautions the government from the current version of the Trabaho bill. Photo by Aika Rey/Rappler

[ANALYSIS] Mere hiccups? Let’s be more honest about the economy

Aug 31, 2018 - 11:59 AM

The truth is, we’re living in a sad combo of slowing growth and accelerating prices. Worse, indicators point to harder times ahead.

COA: PEZA, 3 other economic zones must pay back P664 million in illegal perks

Aug 15, 2018 - 10:41 PM

COA says only the Department of Budget and Management 'has the mandate to classify positions, determine the appropriate salaries for specific positions, and review the compensation benefits or programs of agencies'

All Cabinet members support federalism, insists Malacañang

Aug 09, 2018 - 1:52 PM

It is 'incumbent' upon all Cabinet members to make the shift to federalism happen, says Presidential Spokesman Harry Roque, after two economic managers questioned the Consultative Committee's draft charter

President Rodrigo Roa Duterte shares a light moment with the members of his cabinet before presiding over the 21st Cabinet Meeting at the Malacañan Palace on January 8, 2018. Also in the photo are Executive Secretary Salvador Medialdea and Finance Secretary Carlos Dominguez III. SIMEON CELI JR./PRESIDENTIAL PHOTO

PEZA, Board of Investments challenge 2nd TRAIN package

Jul 24, 2018 - 7:20 PM

The agencies warn that the 2nd tranche of the Tax Reform for Acceleration and Inclusion law might spook investors and may even be unconstitutional

What Duterte's economic team did not say during the pre-SONA 2018 forum

Jul 06, 2018 - 10:02 PM

The dip in Philippine competitiveness ranking, missing the 2017 labor target, and slow implementation of infrastructure projects are left out during the 'Tatak ng Pagbabago: Tatak ng Pag-unlad' forum

THE ECONOMY'S HEALTH. Public Works and Highways Secretary Mark Villar (left), Finance Secretary Carlos Dominguez III (middle), and Socioeconomic Planning Secretary Ernesto Pernia (right) reported the various efforts of their respective agencies during the pre-state of the nation (SONA) forum. Pernia's photo by Albert Alcain/Presidential Photo, Dominguez' photo by Toto Lozano/Presidential Photo, Villar's photo by Malacañang Photos

#TheWrap: Videos to watch this week, May 21-27, 2018

May 27, 2018 - 10:46 AM

Here are the must-watch videos this week!

World Bank expects stable 6.7% growth for PH in 2018, 2019

Apr 12, 2018 - 8:00 PM

'Any growth above 6.7% would require vigorous investment in physical and human capital to push the economy beyond its current potential output,' says the World Bank

Aquino on Senate Dengvaxia report, LTFRB on Grab, White House on Mueller | Evening wRap

Apr 11, 2018 - 8:42 PM

Watch Rappler's evening newscast with Marguerite de Leon

Foreign investment pledges down 51.8% in 2017

Feb 22, 2018 - 10:55 PM

A significant 82.8% drop is recorded in the 4th quarter of 2017 alone, according to the Philippine Statistics Authority

SAN ANSELMO, CA - AUGUST 29: In this Photo Illustration, One and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump. (Photo Illustration by Justin Sullivan/Getty Images)

Philippine GDP growth in Q2 2017 raised to 6.7%

Nov 15, 2017 - 8:55 PM

The top 3 contributors to the upward revision are financial intermediation; construction; and real estate, renting, and business activities

Philippines aims to identify 300 new eco zones in January 2018

Nov 12, 2017 - 11:30 PM

These would include mega economic zones, spanning 1,000 to 4,000 hectares

ECO ZONES. Location of some of the Philippines' economic zones, according to PEZA. Image grabbed from PEZA website

Cavite workers seek gov’t intervention on temporary factory shutdown

Oct 16, 2017 - 4:44 PM

Labor unions claim this is a form of ‘union busting’ since companies do not have sufficient reason for shutdown

STRIKE. Workers from the Cavite Export Processing Zone slam the alleged scheme of factories to use temporary shutdowns. Photo from Partido Manggagawa

Lilia de Lima's 21-year work of fighting corruption

Sep 04, 2017 - 10:40 PM

Her two golden rules in PEZA were to be incorruptible and to be efficient It was not an easy feat to lead the agency says De Lima but she kept focusing on her goals

DEDICATED LEADER. Ex-PEZA director-general Lilia de Lima holds her plaque as one of the 2017 Ramon Magsaysay awardees. Photo by Ben Nabong/Rappler

Work in gov’t with ‘absolute honesty and utmost service’ – Magsaysay Awardee Lilia de Lima

Sep 01, 2017 - 8:00 AM

Lilia de Lima survived 4 presidents with different political persuasions and management styles as director general of the Philippine Economic Zone Authority

DEDICATED LEADER. Ex-PEZA director-general Lilia de Lima holds her plaque as one of the 2017 Ramon Magsaysay awardees. Photo by Ben Nabong/Rappler

Credit Suisse upgrades Philippine GDP 2017 outlook on Q2 results

Aug 21, 2017 - 6:10 PM

The global financial services giant now expects the Philippines gross domestic product to grow faster at 6 1 instead of 6 this year

STRONGER. The upgrade is a result of a better-than-expected 2nd quarter 2017 results. Rappler file photo

Gov't spending, agriculture lift Philippine GDP in Q2 2017

Aug 17, 2017 - 8:50 PM

Spending on infrastructure is a bright spot for the economy in the 2nd quarter of 2017 but in a role reversal it s now the private sector and not the government that is lagging

Malacañan Photo

Philippine GDP grows faster by 6.5% in Q2 2017

Aug 17, 2017 - 10:10 AM

3rd UPDATE The 6 5 growth in GDP places the Philippines ahead of ASEAN nations that have released their 2nd quarter figures but it is still behind China

Standard Chartered cuts Philippine GDP forecast

Aug 01, 2017 - 8:05 PM

The bank slashes its forecast to reflect the disappointing GDP expansion in the 1st quarter of the year which was largely due to weak investment growth

STILL FASTEST? The projected GDP growth for the Philippines this 2017 would be faster than Stanchart's 2017 outlook for Vietnam (6.4%), Indonesia (5.2%), Malaysia (4.6%), Thailand (3.5%), Singapore (2%), and Taiwan (1.9%). Rappler file photo

PETA, PH's Lilia de Lima among 2017 Ramon Magsaysay awardees

Jul 27, 2017 - 2:40 PM

To also receive Asia s equivalent of the Nobel Prize are Yoshiaki Ishizawa Japan Abdon Nababan Indonesia Gethsie Shanmugam Sri Lanka Tony Tay Singapore

AWARDEES. The Ramon Magsaysay Award Foundation announces the 59th batch of awardees on Thurday, July 27. Photo by Alecs Ongcal/Rappler

#ThewRap: Things you need to know, July 3, 2017

Jul 03, 2017 - 9:36 AM

Hello Here are the stories you shouldn t miss this Monday

World Bank cuts PH growth outlook to 6.8%

Jul 02, 2017 - 10:25 PM

With government consumption and investment growth somewhat weaker the World Bank lowers its forecast for the Philippines in 2017

REVISED DOWNWARDS. The multilateral bank agency's growth outlook for the Philippines is now 6.8% for 2017, one percentage point lower than the 6.9% forecast released in the April edition of the World Bank Philippine Economic Update. Rappler file photo

Aguirre reverses De Lima, lets BFP enforce fire laws in ecozones

Jun 07, 2017 - 6:48 PM

Aguirre says they will investigate the supposed lack of signages near the room where Resorts World guests and employees died due to suffocation

De Lima to Aguirre on casino attack: 'Stop blaming me' for everything

Jun 07, 2017 - 4:42 PM

After some time your own excuses of blaming me for every catastrophe that befalls this administration just won t wash with the public anymore Senator Leila de Lima tells Justice Secretary Vitaliano Aguirre II

DOJ: De Lima could be liable for PEZA regulation of casino fire safety

Jun 05, 2017 - 7:46 PM

Secretary Aguirre is inclined to reverse his predecessor s legal opinion in 2014 which took away from the Bureau of Fire Protection the regulation over casinos

FIRE IN CASINO. Smoke billows at the Resorts World Hotel in Pasay City after a gunman set the casino on fire on June 2, 2017. Photo by Alecs Ongcal/Rappler

DOLE contradicts PEZA: Company in Cavite fire violated standards

Jun 05, 2017 - 1:40 PM

The Department of Labor and Employment says House Technology Industries violated labor and safety standards contrary to the findings of the Philippine Economic Zone Authority

HTI. Portion of the burned building of the House Technology Industries in the Cavite Export Processing Zone. Rappler file photo

DOH targets release of smoking ban rules before SONA

May 30, 2017 - 3:45 PM

Local governments are encouraged to pass their own local ordinances that will implement Executive Order 26 and the Framework Convention on Tobacco Control

NO TO TOBACCO. Tobacco control advocates join the World Health Organization and the Department of Health to commemorate this year's World No Tobacco Day. Photo by Jee Y. Geronimo/Rappler

PH economy grows slower by 6.4% in Q1

May 18, 2017 - 10:18 AM

UPDATED Aquino and Duterte have something in common: slow pace of public infrastructure spending

Kampanya kontra droga hadlang sa makamasang kaunlaran

Mar 31, 2017 - 5:44 PM

Walang saysay ang paglago ng ekonomiya kung hindi makikinabang dito ang mahihirap dahil sila ay walang habas na pinapaslang sa mga kalsada