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Reporter
HEADLINE INFLATION is likely to have breached the central bank’s target for a second straight month in February, as food and fuel prices remain elevated, according to economists.
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BusinessWorld poll of 16 analysts last week yielded a median estimate of 4.8%, near the upper end of the 4.3% to 5.1% estimate range given by the Bangko Sentral ng Pilipinas (BSP) but beyond the 2-4% annual target.
If realized, the median estimate will be even quicker than the 4.2% in January and the 2.6% a year earlier. It would also be the quickest since 5.1% print in December 2018.
The Philippine Statistics Authority will report February inflation data on March 5.
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+ February 27, 2021 THE SUMMER capital shelled out P18 million for the advance payment of over 380,000 doses of anti-coronavirus disease vaccines for the city.
In a report from the Baguio City Public Information Office, City Administrator Bonifacio dela Peña said the city’s finance officers were able to remit the amount to AstraZeneca via bank transfer to formalize the procurement of the needed vaccines.
The report added local officials are keeping their fingers crossed on the arrival of the vaccines, as the city plans to roll out the initial 30 vaccination sites.
The local government earlier procured from the pharmaceutical company over 380,000 doses of vaccines that will be used to vaccinate more than 190,000 adult population of the city to achieve the prescribed 70-percent herd immunity.
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MANILA (Philippine Daily Inquirer/ANN): Amid the prolonged Covid-19 pandemic which caused business uncertainty and a recession, foreign investors’ commitments to set up shop in the Philippines fell 71 percent to P112.1 billion in 2020.
The foreign pledges approved by seven investment promotion agencies (IPAs) last year dropped from the record-high P390.1 billion, based on the Philippine Statistics Authority (PSA) data released on Wednesday (Feb 24).
PSA data showed the total foreign investment approvals in 2020 was the lowest in three years, or since the P105.7 billion in 2017.
The seven IPAs covered by the PSA report Authority of the Freeport Area of Bataan (Afab), Board of Investments, BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), Cagayan Economic Zone Authority (Ceza), Clark Development Corp. (CDC), Philippine Economic Zone Authority (Peza), and Subic Bay Metropolitan Authority (SBMA) give away tax and other perks to incoming investors and locators.