Economy

Statement of economic managers of PH economic performance for Q2 2021

"We are pleased to report that the Philippine economy strongly recovered in the second quarter of 2021. The robust performance is driven by more than just base effects. It is the result of a better balance between addressing COVID-19 and the need to restore jobs and incomes of the people."

Sec. Martin Andanar on the country’s 11.8% GDP growth rate for the 2Q of 2021

We are delighted by the 11.8% expansion of our GDP for the second quarter of 2021. This is a good indicator of the strategic balance and management being employed by the...

FIRB okays tax breaks, other incentives for 3 investment projects worth P29-B

The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for a mass housing project and two cement manufacturing plants all located outside Metro Manila and worth P29.4...

Moody’s upbeat about Philippines’ recovery prospects; sees economy growing faster than most countries

Moody’s Investors Service is upbeat about the Philippines’ recovery prospects from the COVID-19 crisis, expecting the economy to outperform most of the sovereigns it rates in terms of average growth up...

NG records P149.9 billion budget deficit in June 2021

The national government’s (NG) fiscal balance swung back to a P149.9 billion budget deficit for June 2021 compared to last year, due to the 30.03% decline in revenue collection as the...

SSS self-employed, voluntary membership up by 20.2%

The number of self-employed and voluntary members (SEVMs) of the Social Security System (SSS) has increased by 20.2% to 8.43 million as of May 2021.   SSS President and Chief Executive Officer Aurora...

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