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Philippines
Monday, July 1, 2024

Economy & Trade

World Bank approves $1.25 billion in fresh loans for the Philippines

The World Bank's board of directors approved $1.25 billion in fresh loans to support two Philippine government projects aimed at ensuring safe and resilient schools and bolstering economic recovery. The bank said in a statement it would grant a $500-million loan for the Infrastructure for Safer and Resilient Schools Project. This project will support the rebuilding of schools in regions hit by recent earthquakes and typhoons. "Education is a key component...

Higher spending pushed 5-month deficit to P404b

The Philippine government posted a budget deficit of P174.9 billion in May...

Economic managers revise inflation, economic targets

The government’s economic managers on Thursday revised the official inflation, fiscal and...

PH to attain upper-mid income status by 2026

The Philippines will likely reach upper-middle-income country (UMIC) status by 2026, as...

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Group supports extension of lower pork tariff to help consumers

The Federation of Economic Freedom said Friday that extending the lower pork tariffs until December2023 would result in consumer savings or benefits amounting to...

NEDA board endorses zero tariff rate on electric vehicles

The National Economic and Development Authority board chaired by President Ferdinand Marcos Jr. approved on Thursday the executive order that will modify tariff on...

PH fiscal indicators improving—DOF

Finance Secretary Benjamin Diokno said Thursday the country's fiscal indicators are improving as shown by the lower deficit to GDP ratio and higher tax...

New UK budget to hit middle-earners

LONDON—Middle-income earners in the United Kingdom will be the hardest hit by the government’s updated budget, a leading political expert told Xinhua. Commenting on the...

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