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The Economic Scene

BBM says Maharlika Fund pushes through

19 October 2023. – President Ferdinand “Bongbong” Marcos Jr. on Thursday said that the Maharlika Investment Fund (MIF) will push through. In a speech before flying to Saudi Arabia, Marcos said he was “a bit alarmed” about reports that the MIF was postponed. “I was a bit alarmed by the

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PH economic growth rate slows down to 4.3%

The growth of the Philippine economy slowed to 4.3 percent in the second quarter of the year, from the 6.4 percent expansion in the first quarter, the Philippine Statistics Authority (PSA) reported on Thursday. In a briefing, National Statistician Dennis Mapa said the gross domestic product (GDP) growth during the

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PH economic growth higher than peers’ – World Bank

The World Bank, in its Philippine Economic Update (PEU) for June 2023, reported that the country’s economy expanded by 6.4% year-on-year (yoy) in Q1 2023, higher than the growth of regional peers such as Malaysia (5.6%) Indonesia (5.0%), Vietnam (3.3%, and Thailand (2.7%). The report said that the continued release

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$531M in ‘hot money’ exited PH in Feb, most in 2 yrs

The flow of short-term foreign investments or “hot money” that are registered with the Bangko Sentral ng Pilipinas (BSP) reversed to a net outflow of $531 million in February after four straight months of net inflows. Data at the BSP show that there were net inflows of $292 million in

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Local banks “safe” from Silicon Valley Bank crisis

The Bangko Sentral ng Pilipinas (BSP) and the leading industry group of private and government banks on Tuesday sought to calm markets and the public amid contagion fears from a brewing banking crisis in the United States. Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said there was limited fallout

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PH seen to sustain 4-5% growth this decade

Growth-wise, the Philippine economy is performing in the middle of the pack in Southeast Asia, where United States-based management consulting firm Bain & Company sees a rosy picture for the rest of this decade. In a joint report released in partnership with Singapore-based Monk’s Hill Ventures, Bain & Company said

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