Relatively low external debts, high reserves and resilient remittances have kept it buoyantIt helped that the oil price was plunging (and consumption within the country was falling), dramatically cutting the Philippines’ import bill. 7 days ago

By They fell by only 3% in the first four months of 2020.

By 7 days ago Inflows can even increase during periods of domestic economic weakness, as the diaspora responds to distress calls from home. By



New user? The US Department of State said Foreign Affairs Secretary Teodoro Locsin Jr. and US Secretary of State Mike Pompeo talked about the recent change in US policy in a call. Philstar Global Corp. All Rights Reserved 7 days ago The central bank has said no money from Wirecard entered the Philippine financial system. However, the Philippine banking system was relatively insulated with bank failures contained within the rural banking sector whose small assets relative to the total sector’s resources posed little to …

And if the world economy is heading down the tubes, it is scant comfort that other emerging markets are descending faster.This article appeared in the Asia section of the print edition under the headline "A milder infection"Sign up to our free daily newsletter, The Economist todayThe Philippine peso is the champion of emerging-market currenciesIndonesia risks repeating an environmental disaster

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MANILA, Philippines — Moody’s Analytics said the Philippine economy may book a deeper contraction of eight percent in the second quarter of the year from 0.2 percent in the first quarter due to the containment measures against the deadly coronavirus disease 2019.Steven Cochrane, chief economist for Asia Pacific at Moody’s Analytics, said the country’s gross domestic product (GDP) is seen sinking by 4.5 percent this year from a growth of six percent last year.The country’s GDP shrank by 0.2 percent in the first quarter, ending 84 straight quarters of positive growth, or since the three percent contraction recorded in the fourth quarter of 1998 due to the Asian financial crisis.The Philippine economy ground to a halt after Malacañang imposed a lockdown in the entire Luzon in the middle of March to prevent further spread of the novel coronavirus disease 2019 of COVID-19.

MANILA -- The Philippine economy shrank a record 16.5% in the second quarter, the country's statistics agency said on Thursday, throwing the nation into …

The enhanced community quarantine (ECQ) was lifted and relaxed to general community quarantine (GCQ) in the National Capital Region (NCR) starting June.Economic managers, through the Development Budget Coordination Committee (DBCC), expect the GDP to contract between two and 3.4 percent this year.

The In part that is because remittances, which keep the economy afloat, have held up quite well so far.

Gareth Leather of Capital Economics, a consultancy, points out that lots of Filipino expatriates work in health care, and so are likely to retain their jobs even as migrants working in construction, say, lose theirs.The public finances have also been prudently managed in recent years.

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