Philippine economy 2022
Inflation accelerated to a feverish pace of 8% year-on-year in November, the Philippine Statistics Authority says.
This was faster than the 7.7% recorded in October. — Ramon Royandoyan
State-run PTV4 reports that the contingents of the House of Representatives and the Senate of the Bicameral conference committee has approved the proposed P5.268-T budget for 2023.
American credit rating agency S&P Global Ratings affirms the Philippines’ “BBB+” investment grade rating.
The stable outlook reflects their projection that “the economy will recover and fiscal deficits will significantly decline over the next two years.” — Ramon Royandoyan
The Philippine economy grew 7.6% year-on-year in the third quarter, the Philippine Statistics Authority says.
This was faster than the 7.5% annual growth recorded in the previous quarter. — Ramon Royandoyan
The country’s unemployment rate inched down 5% in September, the Philippine Statistics Authority says.
The number is lower than the 5.3% recorded in August. — Ramon Royandoyan
The Philippine Statistics Authority says inflation accelerated to 7.7% in October from 6.9% in September.
The Treasury reports that the government's outstanding debt ballooned to P13.52 trillion in September from P11.92 trillion a year ago due to weak peso and additional borrowings. The Marcos administration added some P725.265 billion in obligations during its first three months in office.
Unemployment worsened 5.3% year-on-year or 2.68 million Filipinos in August, the Philippine Statistics Authority reports.
The PSA also recorded 5.2% jobless rate in July. Underemployment up at 14.7% or 7.03 million Pinoys, it adds. — Ramon Royandoyan
The Philippine Statistics Authority reports that inflation in September quickened 6.9% year-on-year. This was faster than the 6.3% rate recorded in August. — Ramon Royandoyan
In the latest report of the Asian Development Bank, the Manila-based lender raises its 2022 growth forecast as domestic demand surged but raised inflation expectations for the year as well.
ADB raised its economic growth forecast for PH to 6.5% from previous 6.0%, due to a "stronger-than-expected" growth in the first six months. The Marcos Jr. administration is projecting the Philippine economic to grow at a slower clip of 6.5-7.5% this year. — Ramon Royandoyan
The Philippine Statistics Authority reports that unemployment inched down 5.2% in July. Last year, jobless rate stood at 7.2% 43,521 households participated in the LFS round in July. Participation rate stood at 65.2%
47.39 million employed, putting employment rate at 94.8% in July. — Ramon Royandoyan
Philippine peso hits new all-time low as it sank to P57 against the dollar.
This is the first time that peso sank to that level in a dataset that dates back to 2001. — Ramon Royandoyan
The national govermentt trimmed its budget deficit to P86.8 billion in July, lower by 28.4% year-on-year compared to last year’s outturn. Year to date, deficit stands at P761B. Revenues outpaced expenditures in July, as the revenue haul improved 20.53% year-on-year. — Ramon Royandoyan
The Marcos Jr administration submits its proposed 2023 budget at a whopping P5.268 trillion. The proposed amount grew 4.9% year-on-year compared to last year's figures. Education, infrastructure, and agriculture are the top priorities for the national government. — Ramon Royandoyan
DEVELOPING: The Marcos Jr administration earlier submitted its proposed 2023 budget at a whopping P5.268 trillion. The proposed amount grew 4.9% year-on-year compared to last year's figures.
— Ramon Royandoyan (@monroyandoyan) August 22, 2022
Education, infra, and agri were top priorities for the national govt. @philstarbiznews
Poverty rate in 2021 hit 18.1%, the Philippine Statistics Authority reports.
Poor families numbered 3.5 million. There are 19.99 million of poor Filipinos in 2021, 17.67 million in 2018.
Full-year poverty rate in 2018 is at 16.7%, it adds.
JUST IN: Poverty rate in 2021 hit 18.1%, Poor families numbered 3.5 million.
— Ramon Royandoyan (@monroyandoyan) August 15, 2022
19.99 million of poor Filipinos in 2021, 17.67 million in 2018.
Full-year poverty rate in 2018: 16.7%@philstarbiznews @PhilstarNews
National government debt hit P12.79 trillion by end of June, comprising mostly domestic borrowings.
Two things stood out: Domestic debt rose due to P96.3 B issuance of government securities and the weakening peso that cost public coffers P5.36 B. — Ramon Royandoyan
Inflation in July quickened to 6.4%. In June, inflation stood at a three-year high of 6.1%, the Philippine Statistics Authority reports. This latest print landed at upper range of BSP's month-ahead forecast.
In July last year, inflation stood at 3.7%. The domestic economy was wading through lockdowns and surging infections then. — Ramon Rayondoyan
The Bangko Sentral ng Pilipinas raises interest rates by 75 basis points to 3.25%.
This was from an off-cycle meeting, weeks before their August meet. — Ramon Royandoyan
Unemployment in May slid up to 6% month-on-month, equivalent to 2.93 million Filipinos, the Philippine Statistics Authority says.
Compared to a year ago, unemployment down 21.66%. In April, jobless rate stood at a pandemic-low of 5.7%. — Ramon Royandoyan
The number of unemployed Filipinos continued to fall in April. Results of a PSA survey of 43,500 households show there were 2.76 million Filipinos who were either unemployed or out of business in April, down from 2.87 million in March. Jobless rate fell to 5.78%.
Job quality also improved in April. The PSA recorded 6.40 million underemployed persons in April, down from 7.42 million in March. Underemployed people are those who are looking for more working hours to augment their income. Underemployment rate eased to 14%. — Ian Nicolas Cigaral
The government recorded a budget surplus of P4.9 billion in April, according to the Bureau of the Treasury. A budget surplus happens when revenue collections outpace public spending.
Treasury data shows revenues grew 19.19% year-on-year in April, thanks to improved collections from BIR and Customs, as wells as higher dividend contributions from state-run firms.
Spending grew a measly 1.98% year-on-year due to high base from last year’s financial aid for areas under ECQ. — Ian Nicolas Cigaral
Philippine economy expands 8.3% in the first quarter of 2022.
This is from the -3.8% recorded in the first quarter of last year, the Philippine Statistics Authority reports.
"Sa seasonally-adjusted national accounts, sa unang quarter ng taong 2022, ang GDP ay nagtala ng pagtaas na 1.9% quarter-on-quarter," PSA says.
There were 2.87 million Filipinos who were either jobless or out of business in March, down from 3.13 million recorded in February, the PSA reports.
That translates to an unemployment rate of 5.8% in March, down from 6.4% in February.
The unemployment rate eased as the Omicron onslaught waned, which allowed workers to find jobs again. But the jobs they found were low quality. — Ian Nicolas Cigaral
The government’s debt load has gotten heavier.
Data from the Bureau of the Treasury shows the state’s liabilities amounts to P12.68 trillion in March, up 4.8% month-on-month.
Since the beginning of the year, debts have piled up by P951.2 billion. — Ian Nicolas Cigaral
Philippine inflation breaches target, quickening to 4.9% year-on-year in April.
This was faster than the 4% clip recorded in March, according to the Philippine Statistics Authority.
This is the fastest pace inflation moved in seven months. — Ramon Royandoyan
The Philippine Statistics Authority reports that unemployment in February settled at 6.4%. This was the same as the January print.
Employment rate then landed at 93.6%.
The number of underemployed fell 14% from 14.9% in January. — Ramon Royandoyan
The Philippine Gross Domestic Product grows by 7.7% in the fourth quarter of 2021, the Philippine Statistics Authority says.
This is a rebound from a decline of -8.3% in the fourth quarter of 2020.
"On an annual basis, 2021 GDP grew by 5.6% from a decline of -9.6% in 2020," the PSA says.
- Latest
- Trending
