10th May 2021
The level borrowing in the country is in its slowest pace in more than a decade as commercial banks cut bank on lending, citing the Covid-19 uncertainty.
Annual growth in commercial bank credit declined to 3.6 percent in February 2021, compared to 10.2 percent growth in February 2020, signalling the subdued demand for credit, as well as restrictive supply of credit by banks on account of the uncertainty created by the COVID-19 pandemic.
The biggest consumer of bank loans, households have been finding it hard to get loans, with the credit channelled to individuals slowing to 6.1 percent in the twelve months to February 2021, from 15.2 percent in the corresponding period in 2020.
Vaccination key to recovery — Diokno - BusinessWorld bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Business sentiment up in first half, BSP survey says By JON VIKTOR D. CABUENAS, GMA News
Published April 8, 2021 4:01pm The sentiment of business owners in the Philippines improved for the first half of the year, according to results of a survey conducted by the Bangko Sentral ng Pilipinas (BSP) conducted before the reimposition of the enhanced community quarantine (ECQ). According to the Business Expectations Survey (BES) of the central bank, the overall confidence index (CII) rose to 17.4% in the first quarter from 10.6% in the fourth quarter of 2020. For the second quarter, the business outlook was recorded at 42.8%, an improvement from the 37.4% recorded during the previous quarter.
BSP survey: Business sentiment remains upbeat in H1 mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
March 1, 2021 5:55 am
Reserve Bank of Fiji, Suva. [File Photo]
The economic recovery remains contingent on the resumption of international travel at least with major markets.
Reserve Bank Governor Ariff Ali says this includes Australia and New Zealand.
Ali says the economy could contract further if borders do not open this year, however, a marginal economic recovery could eventuate if borders open towards the end of the year.
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In addition, Ali says economic recovery will also depend on the level of fiscal support provided by the Government in the 2021-22 national budget.
On a positive note, the RBF’s December Business Expectations Survey shows that overall business confidence has improved slightly from six months ago, possibly reflecting the successful containment of the virus locally, businesses adjusting to the new norm and concrete steps towards immunisation across the globe.