Union Bank of the Philippines (UnionBank) successfully held the virtual groundbreaking ceremony last May 26, for its Innovation Campus, a real property development that will support its innovation initiatives. The event marked a very important milestone in UnionBank’s digital transformation journey, which began half a decade ago. The first-in-industry facility, which is being built on […]
S&P Global Ratings on Thursday affirmed its credit ratings for the Philippines, but flagged that downside risks such as the government's rising debt stock.
Duterte s economic team sees slower growth in 2021, wider budget gap concerning
Updated May 18, 2021 7:31:00 PM
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Metro Manila (CNN Philippines, May 18) – President Rodrigo Duterte s economic managers tempered growth forecasts for the year amid the ongoing COVID-19 crisis.
The inter-agency Development Budget Coordination Committee (DBCC) on Tuesday said they only see the economy growing by 6-7% in 2021, slower than the original 6.5-7.5% target following a continued recession in the first three months of the year.
Local economic output shrank by 4.2% in January-March, marking the fifth straight quarter of contraction and suffering the biggest drop compared to its Southeast Asian neighbors. The last week of March saw a return to lockdowns in Metro Manila and nearby provinces, which are centers of business and trade.
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