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Rate hikes make credit more expensive with the goal of controlling inflation, but this also means people and businesses have less money to spend, potentially slowing down the economy
The government’s budget shortfall inched up February as revenue collections lost some steam.
The national government’s outstanding debt, as a share of the economy, remained within alarming levels in 2022, keeping the threat to the country’s creditworthiness.
The Philippine peso touched the 59-level against the US dollar in early Wednesday morning trading.
SEVERAL local banking economists said the escalating tensions between Russia and Ukraine are set to put pressure on the local economy, particularly through rising inflation and weakening of the currency in the near-term. In separate responses to the BusinessMirror, ING Bank economist Nicholas Mapa, UnionBank economist Carlo Asuncion and Rizal…