Money By JON VIKTOR D. CABUENAS, GMA News
Published April 12, 2021 1:32pm Philippine economic managers are likely to lower the Philippine economic growth target this year due to the recent two-week reimposition of the enhanced community quarantine (ECQ) in the NCR Plus bubble, an official said Monday. According to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, the Development Budget Coordination Committee (DBCC) will likely lower its gross domestic product (GDP) target to 6.0% to 7.0%. Because of that recent closure of the economy due to the ECQ in NCR Plus, the DBCC may revise the original forecast of 6.5% to 7.5%. A possible result of this, in my estimate, is that the target for this year may be around 6% to 7%, he said in a mix of English and Filipino during the Lagina Handa virtual briefing.
2020: A disruptive year for Philippine economy
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Feb trade gap widens as imports rise - BusinessWorld
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THE COUNTRY’S trade-in-goods deficit widened in February as imports grew for the first time in 22 months and exports contracted albeit at a slower pace that same month.
Merchandise imports grew by 2.7% to $7.60 billion in February following a 12.1% annual decline in January, preliminary data by the Philippine Statistics Authority showed.
The import tally for February was bigger than $8.4 billion and $7.4 billion in January 2021 and February 2020, respectively. However, the value of imports that month was the lowest since June 2020’s $7 billion.
Nevertheless, February marked the first expansion in imports in 22 months or since April 2019 when it posted an annual growth of 2.9%.