Economy

Converge ICT Solutions Inc.’s modern data center in Angeles City, which started operations last March, has been recognized as a ‘’strategic investment’’ by the Board of Investments (BOI) and thus was granted the “green lane” status from the government. Henceforth, the facility would be eligible for expedited processing of permits and other regulatory requirements. Converge CEO Dennis Uy said he …

Various economic forecasters have been issuing lower growth numbers of the Philippine economy.  The latest downgrade came from the  Asean+3 Macroeconomic Research Office (Amro) which cut its outlook for the country for 2026 and 2027. Amro on Thursday lowered its growth forecast for the Philippines to 3.4 percent in 2026 from 4.1 percent previously, and to 4.8 percent in 2027 …

Travelers have been warned by the Civil Aeronautics Board (CAB( that they should expect an increase in airfares by next month. The board is increasing the fuel surcharge by a notch, resulting in slightly higher airfares. In an advisory, the CAB said it is increasing the applicable surcharge rate to Level 13 for the period of Sept. 1 to 15 …

For the first time in three months, the  Philippines’ balance of payments (BoP) position dived to a new low last July,  the Bangko Sentral ng Pilipinas (BSP) has confirmed. According to the data released last Wednesday by the BSP, the  country’s BoP position stood at a $1.47-billion deficit in July, a reversal from the $3.403-billion surplus in June. Year on …

The installation of solar power systems is now easier for households, small businesses, and medical facilities, as the Department of Energy (DOE) has reduced regulatory requirements and simplified the application processes. 

 In a news release on Thursday, the DOE said Department Circular DC2026-08-0017 covers two categories of own-use solar installations – the Self-Generating Facility Zero-Export Solar Systems (SGF ZESS) …

While the Philippines still plans to issue retail treasury bonds or RTB this year, the Bureau of Treasury is biding its time. They are awaiting for more favorable market conditions, which might not occur, because the bond markets in Japan, the United States and in Europe are all experiencing existential troubles. National Treasurer Sharon P. Almanza noted that the market …

THE Philippines’ high exposure to inflation risks could prompt the central bank to tighten its monetary policy further despite its weak growth prospects, Oxford Economics said.     In a report dated Aug. 11, the United Kingdom-based think tank said the Bangko Sentral ng Pilipinas could still deliver an additional 50 basis points (bps) in rate hikes to 5.25% this …

The number of employed Filipinos went up to 50.66 million in June this year from 49.63 million in May, data from the Philippine Statistics Authority (PSA) showed. Results of the latest Labor Force survey showed that this was also higher than the 50.47 million employed in June 2025. National Statistician Dennis Mapa said the employment rate during the month was …

The US-based World Bank (WB) last week sharply lowered its forecast for the Philippine economy, warning that rising uncertainty and the continuing global oil shock have dragged the country`s economy. In its latest Philippine Economic Update, the Washington-based lender now expects the country’s economy to expand 3.7 percent in 2026, a steep downgrade from the 5.3 percent growth it projected …

The growing use of digital payment systems by increasingly more and more Filipino business establishments  is a major factor in how the country will benefit from the proposed ASEAN Digital Economy Framework Agreement (DEFA). Trade and Industry Secretary Ma. Cristina Roque, on the sidelines of the ASEAN Tech Summit in Pasay City Wednesday, said the scope of the DEFA is …