DOF welcomes private sector investment in infra, other industries
Finance Secretary Benjamin Diokno said that the private sector is welcome to invest in infrastructure development and other industries, as he reassured the public that the country has the enabling business environment and ample fiscal space for key projects.
National, LGUs to work together to boost agri production
Finance Secretary Benjamin Diokno said the national government will closely coordinate with the local government units (LGUs) to fulfill the goal of President Ferdinand “Bongbong” Marcos Jr. of increasing production in the agriculture sector, while continuing to import rice and other staple food products as an immediate measure to keep prices reasonable and affordable for consumers.
Interagency body remains vigilant against systemic risks
The Financial Stability Coordination Council (FSCC) remains vigilant against potential disruptions from global developments to ensure that Filipinos can rely on a functioning financial system.
Authorities closely watching inflation pressures from Russia-Ukraine war
Monetary authorities continue to closely monitor the Russia-Ukraine conflict and remain vigilant against its impact on the Philippines’ inflation outlook.
BSP says Philippine banks have limited exposure to Russia, Ukraine
Philippine banks have minimal exposure in Russia and Ukraine due mainly to the country’s geographic distance from the conflict area, according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno.
Satellite technology helps rural bank restore operations after typhoon
The Bangko Sentral ng Pilipinas (BSP) said the satellite broadband services helped banks and financial institutions provide financial services to those affected by super typhoon Odette.
Breaching the $95-a-barrel of oil threshold this year means more sacrifices for Filipinos
Already prohibitive oil product prices at the pumps are seen climbing even higher and local output growth measured as the gross domestic product (GDP) should moderate in the Philippines should the price of imported crude average beyond $95 per barrel this year.
BSP looks to sustain the country’s output growth potential by keeping the policy rates unchanged
The Bangko Sentral ng Pilipinas (BSP) on Thursday kept the rate at which borrows from or lends to banks unchanged at 2 percent, effectively sustaining a freeze in rates to help feed an economic recovery that is only beginning to gain speed.