Short-term foreign portfolio investments or “hot money” exited the Philippines in 2023 amidst a backdrop of uncertainties on the global economy and high interest rates environment, data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed.
The Philippine trade gap narrowed in November as imports posted slight growth while exports continued to decline, data released by the Philippine Statistics Authority (PSA) reported Wednesday.
AirAsia said it was banking on the Philippines to drive its growth given the country's “tourism potential,” with plans to launch flights to the United States by next year.
President Ferdinand “Bongbong” Marcos Jr. signed Republic Act No. 11976 or the “Ease of Paying Taxes Act” into law in a bid to boost the economy and protect taxpayer rights.