BusinessMirror
TOURISM TORCH PASSED, FINALLY
AS the new Tourism Secretary, Bernadita “Dita” Angara-mathay faces the incredible task of encouraging more foreign tourists to visit the Philippines, at a time when the Middle East conflict has resulted in higher jet fuel prices—something that will...
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ADB cuts PHL growth forecast for ’26 to 4.4%
THE Philippines’s growth is set to stall at 4.4 percent this year, matching its 2025 pace, as tensions in the Middle East cloud the outlook, the Asian Development Bank (ADB) said Friday. In its Asian Development Outlook, the multilateral lender cut...
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WAR RISKS CAUSE S&P OUTLOOK DOWNGRADE
INCREASED risks to the Philippines’s external and fiscal position from the Middle East conflict prompted Standard & Poor’s (S&P) Global Ratings to downgrade its outlook to “stable” from “positive,” as uncertainty remains high. The credit rater on...
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WB CUTS PHL GROWTH OUTLOOK TO JUST 3.7%
THE World Bank sharply downgraded its growth outlook for the Philippines this year, flagging the country’s heavy exposure to the Middle East conflict as a key risk to expansion. In its East Asia and Pacific economic update, the Washingtonbased lender...
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MARCH INFLATION AT 4.1%, HIGH PRICES TO PERSIST
PRICES of basic commodities are expected to remain elevated in the coming months as higher oil prices continue to ripple through the economy, with economists warning this could mirror the surge seen during the Russiaukraine war. On Tuesday, the...
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GROWTH-INFLATION SWAP IN REGION A RISK–AMRO
EVEN as the Bangko Sentral ng Pilipinas (BSP) is seen to adopt a neutral stance this year given that inflation forecast still settles within the central bank’s target band, a regional economic think tank warned that sustained rise in global energy...
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BMI DOWNGRADES PHL FORECAST ON WAR RISKS
PROLONGED geopolitical tensions stemming from the Middle East conflict are expected to weigh more heavily on the Philippines’s economic growth, prompting an international research firm to downgrade its forecast. BMI, a unit of Fitch Solutions, now...
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RE-ACHING FOR THE MOON?
THE renewable energy (RE) goals of the Philippines will be achieved, possibly earlier than the targets set, despite significant, ongoing setbacks. When the Renewable Energy Act of 2008 was passed, the National Renewable Energy Program (NREP) 2011-2030...
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END-FEB N.G. DEBT HITS RECORD HIGH OF ₱18.16T
OUTSTANDING debt of the national government hit a fresh record high of P18.159 trillion as of the end of February 2026, a level that could rise further on a weaker peso and heightened global uncertainty. Latest data from the Bureau of the Treasury...
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END-FEB N.G. DEBT HITS RECORD HIGH OF ₱18.16T
OUTSTANDING debt of the national government hit a fresh record high of P18.159 trillion as of the end of February 2026, a level that could rise further on a weaker peso and heightened global uncertainty. Latest data from the Bureau of the Treasury...
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EXPERTS TRACKING OIL SHOCKS PASS-THROUGH
FINANCIAL institutions are now keeping an eye on how fast war-driven oil price shocks will transmit into food and transport prices in the Philippines after the Bangko Sentral ng Pilipinas (BSP) signaled that it cannot raise its key policy rate yet as...
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PHL-CHINA SCS DIALOGUE TACKLES ENERGY AND OIL
THE Philippines and China were at loggerheads over continued clashes in the South China Sea, as senior officials resumed bilateral dialogue in Quanzhou City, Fujian Province on March 27–28. While locked in sovereignty disputes over islands and maritime...
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PHL TOURISM FACES HEADWINDS AS FUEL PRICES SURGE, FLIGHTS CUT
PHILIPPINE tourism stakeholders are bracing for a possible impact on inbound tourists and domestic travelers as the conflict in the Middle East continues to create uncertainties in the cost of airfares and travel packages to their desired...
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PHL TALKING TO CHINA, JAPAN ON ENERGY DEALS
THE Philippines is working on two key fronts in oil diplomacy, with senior officials in separate talks with China and Japan on possible energy cooperation to ensure stable oil supply amid signs the war in the Middle East might persist longer. Senior...
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PESO HITS NEW RECORD LOW AS CRISIS DEEPENS
THE Philippine peso plunged to a new record low of P60.30 against the greenback on Monday as “war rhetoric” by the United States and Iran intensified. Data from the Bankers’ Association of the Philippines (BAP) showed the peso closed at P60.30 per $1...
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INTEREST RATES SEEN RISING ON COSTLY OIL
THE Philippines’s central bank could end up hiking policy rates by as much as 175 basis points if the price of global crude oil lingers at $100 per barrel, Japan-based think tank Nomura’s said in a report. As the conflict in the Middle East enters...
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ACID TEST FOR ASEAN: A CRISIS IN TAIWAN
THE war in the Middle East has once again laid bare the fragility of global crisis-response systems. From Israel to Gaza, governments scrambled to evacuate their nationals as rockets fell and air routes narrowed. Thailand alone repatriated nearly...
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Philippines convenes to save its mangroves
AMID the rising threats to the coastal communities throughout the archipelago from intensified storms, rising sea levels, shifting coastlines, and infrastructure developments that challenge science based conservation initiatives, hundreds of stakefrom...
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CRISIS WEAKENS PESO TO NEW RECORD LOW
THE Philippine peso slumped to a new all-time low as it breached the 60-to-the-dollar level on Thursday due to escalating tensions in the Middle East which fueled the strength of the dollar as investors pour their assets into the “safe haven”...
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BSP EYES ‘PERSISTENCE, SEVERITY’ OF PRICE JOLTS
THE “severity” and “persistence” of oil price shocks will shape the central bank’s monetary policy decisions in the next few quarters, according to an official of the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald R. Abenoja, BSP Deputy Governor for...
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INTEREST SWELLS DEBT SERVICE TO RECORD ₱2.1T
THE government paid a record P2.103 trillion to service its debt in 2025, driven by a surge in interest payments even as principal amortization slightly declined, according to the Bureau of the Treasury (BTR). Treasury data showed the government’s...
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A LONG-OVERDUE FIX FOR METRO MANILA COMMUTES
FOR many workers in Metro Manila, long and unpredictable commutes continue to take a toll on productivity and daily life. But transport officials and industry leaders say expanding transit-oriented developments (TODS) and intermodal hubs could help...
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Asean ministers call for immediate halt to hostilities after emergency meeting
ASEAN must bolster coordination and informationsharing among foreign ministries as their embassies and consulates work to evacuate nationals trapped by escalating missile strikes involving the United States, Israel, and Iran. This priority was...
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‘HIGH OIL PRICES COULD TRIGGER 4% INFLATION’
INFLATION could hit 4 percent as early as March if the price of Dubai crude oil persists above $100 per barrel, according to a bank economist. “Initially, when this war was starting last week, we were looking at close to 4 percent inflation for...
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‘PREPARE FOR WORST,’ DOE COUNSELS PUBLIC
PREPARE for the worst but hope for the best. A day after oil firms started implementing the highest, largest single-week increase, Energy Secretary Sharon Garin said Tuesday that the worst is not yet over. “For me, I would expect the worst because...
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PESO DOWN TO RECORD LOW AS OIL PRICES SOAR
THE Philippine peso has plunged to a new record low of P59.50 against the dollar on Monday, after global crude oil prices surged past the $100 per barrel level amid the ongoing conflict in the Middle East. Data from the Bankers’ Association of the...
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PUBLIC BRACES FOR OIL PRICE IMPACT SHOCKS
CONSUMERS should brace for spiraling fuel prices this week and possibly higher power rates that could be reflected in their succeeding electric bills. on initial estimates provided by Rino Abad, DOE (Department of Energy)-oil Industry Management...
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PERFECT STORM
THE Philippines is bracing for a perfect storm of crises as the escalating war in the Middle East threatens to trigger a mass repatriation of overseas Filipino workers (OFWS) and a crippling energy price surge. With 2.4 million Filipinos living and...
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BSP TRACKS OIL, DOLLAR AS PESO BREACHES ₧59:$1
IF the price of oil shoots up to $100 per barrel and the dollar continues to strengthen, the Bangko Sentral ng Pilipinas (BSP) said it may consider a hike in interest rates. BSP Governor Eli M. Remolona Jr. said this in a televised interview on Friday...
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NG DEBT BREACHES ₱18T ON FRONTLOADED LOANS
THE national government’s outstanding debt breached the P18-trillion mark in January, having frontloaded its borrowings in the first month of the year to shield itself from rising global interest rates. The Bureau of the Treasury (BTR) reported on...
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‘SPECIAL POWER’ TO FIX FUEL EXCISE TAX SOUGHT
AS the government braces for the economic impact of the volatile Middle East situation, President Ferdinand Marcos Jr. announced he is considering asking Congress for “special powers” to temporarily adjust fuel excise taxes and implementing targeted...
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LOCAL OIL SUPPLY ‘OKAY,’ BUT PRICE SPIKES SEEN
OIL firms on Monday assured the Department of Energy (DOE) that they have secured their inventory supplies, with sufficient stocks to last for two months. However, local pump prices are expected to surge amid ongoing attacks by the US and Israel on...
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‘MIDEAST WAR DISRUPTS TRADE, ENERGY MARKETS’
THE Philippine Exporters Confederation Inc. (Philexport) warned on Sunday that the aftermath of the weekend’s attacks by the United States and Israel on Iran— and Iran’s countermoves like attacks on Middle East countries hosting US bases and...
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Philippine diplomacy by the numbers
SPEECHES fade. Press releases are forgotten. Summit photo-ops capture only a single moment in time. If you want to understand a nation’s true geopolitical priorities, look past the rhetoric and follow the ink. The real language of foreign policy is...
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PAG-IBIG members’ returns up again; MP2 rate is 7.12%
WITH unprecedented dividend payouts in 2025, Home Development Mutual Fund, commonly known as PAG-IBIG Fund, raised higher returns for its members, as yields for the Regular Savings and MP2 Savings increased. During the Chairman’s Report 2025 on...
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‘WORLD OIL PRICES POSE RISK TO LOCAL INFLATION’
ALTHOUGH the Philippines is geographically far from geopolitical tensions abroad, rising global oil prices are emerging as a key upside risk to domestic inflation. National Statistician Dennis Claire S. Mapa said the sustained increase in pump prices...
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EXPERTS: OTHER GOVT OFFICES MUST HELP BSP
EDSA AT 40: REMEMBERING THE REVOLUTION People from all walks of life gathered on Wednesday, February 25, 2026, to mark the 40th anniversary of the People Power Revolution—the peaceful uprising that toppled the Marcos dictatorship and restored...
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‘OFW REMITTANCES MAY HIT RECORD HIGH ANEW’
DIVERSIFIED remittance sources and stable overseas employment across sectors may drive remittances to a new record high this year despite macroeconomic uncertainties, according to Maybank. “We expect full-year 2026 OFW Remittances to grow by 2.8...
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GEOPOLITICAL RISKS ARE HIGH ON EXPERTS’ RADAR
ANALYSTS are now closely watching the developments between the United States and Iran, as further escalation could result in higher oil prices and potentially trigger an uptick in the prices of commodities in the Philippines, a netimporting...
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BSP EASING CYCLE SEEN ENDING ON COSTLY OIL
THE Bangko Sentral ng Pilipinas (BSP) may soon hit the brakes on monetary easing as it braces for evolving inflation dynamics, which includes potential oil price spikes, according to some analysts. “We expect the April rate cut that we forecast to...
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DECLINING CONFIDENCE SPURS 25-BPS RATE CUT
THE Bangko Sentral ng Pilipinas (BSP) admitted that it has become “less certain” of the direction of the economy in the next quarter given the sliding confidence which dragged the pace of growth of the Philippine economy last year. The BSP Monetary...
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PHL EYES H2 FORAY IN GLOBAL BOND MARKET
THE Philippines is eyeing another foray into the global bond market in the second semester, according to National Treasurer Sharon P. Almanza. After the Bureau of the Treasury’s auction of 10-year fixed-rate treasury notes, Almanza told reporters that...
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BANKS SEEN TO FOCUS ON INFRA, CONSUMPTION
PHILIPPINE banks will likely focus on targeted lending to priority sectors like infrastructure and consumption this year as they transition from “pure growth mode” to a more disciplined and sustainable footing, according to an economist. Jonathan...
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PROPOSED REMITTANCE TAX IN U.S. CITED AS RISK
REMITTANCES remain a “key stabilizer” for the Philippine economy, but the main risk ahead is the proposed remittance tax in the United States, the Philippines’s top source of cash remittances. “The main risk ahead is the proposed US remittance tax—it...
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‘SUPPLY SHOCKS DULL RATE TWEAKS’ IMPACT’
RECURRENT food and oil price shocks are weakening the effectiveness of interest rate transmission, the Organization for Economic Co-operation and Development (OECD) said, as it urged the Bangko Sentral ng Pilipinas (BSP) to strengthen its monetary...
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THE LAST ADVANTAGE
“BE more human.” As artificial intelligence (AI) rapidly reshapes how people work, communicate, create, and make decisions, experts say “human connection, emotional depth, and responsible authenticity” are becoming more critical than ever. While AI...
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BIR BENT ON MEETING ₱3.58-T REVENUE GOAL
THE Bureau of Internal Revenue (BIR) is banking on sustained economic growth, expanded digitalization and taxes on digital services to meet its ambitious P3.579-trillion collection target this year. “We will do our best. It’s very challenging, but we...
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OECD: VAT EXEMPTIONS, TAX HOLIDAYS MUST GO
THE Philippines could generate more revenues by gradually removing major value-added tax (VAT) exemptions, phasing out income tax holidays and adopting an emissions trading system (ETS), according to the Organisation for Economic Cooperation and...
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INFLATION WILL HOVER AROUND 3% IN 2026, ’27
THE country’s headline inflation could hit a little above 3 percent in the second half of 2026 as the central bank expects oil prices to pick up. “We project that it [inflation] will hover around 3 percent over the next two years. Three percent is our...
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CAUTION RULES: FDI DIPS 22% TO $7.1B IN JAN-NOV
FOREIGN investors wary of governance and corruption issues may have chosen caution over pouring their capital into the Philippines, with foreign direct investment (FDI) inflows into the country continuing to plunge in the 11-month period in...
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‘GRADUAL 50-BPS RATE CUTS LIKELY THIS YEAR’
THE Bangko Sentral ng Pilipinas (BSP) may deliver “gradual” 50-basis-point policy rate cuts in 2026 as inflation is expected to settle within the central bank’s target range with “manageable” price pressures, according to Maybank. “Recent inflation...
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FOREIGN INFLOWS INTO PHL BONDS RISE IN 2025
FOREIGN investors are increasing their exposure to Philippine government bonds, with participation more than doubling last year, as the government steps up efforts to deepen and modernize the domestic debt market. Data from the Bureau of the Treasury...
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MICRO IS THE NEW MEGA
NANO- and Micro-influencers are emerging as the backbone of Asia’s influencer economy, favored by audiences and increasingly tapped by brands for performancefocused campaigns, generating stronger engagement and measurable conversions than top-tier...
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Digital economy, critical minerals strategy top PHL Asean agenda
THE Philippines is putting economic resilience and innovation at the center of its ASEAN chairmanship in 2026, with the digital economy and critical minerals strategy emerging as flagship priorities. Foreign Affairs Secretary Ma. Theresa Lazaro said...
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PESO WEAKNESS SEEN PERSISTING UNTIL 2030
THE Marcos Jr. administration’s economic managers are bracing for a prolonged period of peso weakness, as they have projected that the local currency could reach P60 per dollar over the next 5 years. The peso is expected to hover at P58 to P60 against...
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BSP, CABINET GET ADVICE ON ECONOMIC FORECASTS
AFTER missed growth targets and miscalculated forecast estimates brought about by negative shocks, the Bangko Sentral ng Pilipinas (BSP) alongside the Philippine economic team, should find better ways to capture what’s actually happening on the ground...
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DEBT HITS RECORD ON WEAK PESO, REFORMS
THE national government’s outstanding debt rose to a new record high of P17.707 trillion as of end-2025, driven by increased borrowing and the impact of the peso’s depreciation on foreign debt. The latest data from the Bureau of the Treasury (BTR)...
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OUTLOOK ‘DARKER’ IN ’26 ON TRADE, TRUST ISSUES
ATHINK tank sees the Philippines having a darker economic outlook in 2026 as trust in policy execution, restoring momentum in government spending and consumer confidence, may take some time to rebuild. “The outlook is darker in 2026,” Moody’s...
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BSP: COSTLIER RICE, OIL MAY HEAT UP INFLATION
RICE and fish prices, increased domestic fuel costs and the weakening of the peso likely caused inflation to accelerate in January, according to the Bangko Sentral ng Pilipinas (BSP). In its month-ahead inflation forecast, the BSP said inflation will...
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CAN EDUCATION MESS BE FIXED?
EDUCATION is a fundamental human right, a key driver, a powerful tool for a better future. But there are major challenges facing education—shortage of teachers, crowded classrooms and insufficient government funding, among others. Thus, education...
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SLOW GROWTH BOOSTS CASE FOR FEB RATE CUT
THE weakening growth momentum alongside subdued inflation has strengthened the case for the Bangko Sentral ng Pilipinas (BSP) to deliver a rate cut in February even after the Federal Reserve has hit the brakes on rate cuts, according to commercial bank...
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3.0% Q4 GROWTH PULLS DOWN FULL-YR TO 4.4%
GROWTH of the gross domestic product (GDP) last year slowed considerably on more conservative household spending as well as the ill effects of climatechange and the corruption that continues to dampen investor and consumer confidence. Data released...
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DBCC LOWERS REVENUE TARGETS THROUGH ’28
THE country’s economic managers have further lowered the government’s revenue targets through 2028 on expectations of slower economic growth amid continued global uncertainty. The revised targets, tackled at the Cabinet-level Development Budget...
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BSP SEEN TO DELIVER 2 MORE RATE CUTS IN ’26
THE Bangko Sentral ng Pilipinas (BSP) may deliver two more rate cuts this year before capping off the easing cycle as the economy may bear the brunt of imported inflation amid the weakening peso, according to economists. “BSP still has some room to...
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PHL LIKELY GREW JUST 5.1% IN ’25–THINK TANK
CONCERNS around governance issues linked to flood control projects may have dampened business confidence toward year-end, with the Philippine economy likely capping 2025 off with a 5.1-percent pace, still short of the government’s target band,...
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‘WEAK GDP MAY PROMPT CUT IN INTEREST RATES’
THE Bangko Sentral ng Pilipinas (BSP) said the GDP data in the fourth quarter of 2025 is one of the major factors that the Monetary Board will take into account when it meets next month to determine whether it would implement another rate cut. “Even...
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BSP: GEOPOLITICAL RISKS TO REQUIRE RCEP ACTION
MEMBER economies of the Regional Comprehensive Economic Partnership (RCEP) should “proactively manage” geopolitical risks to safeguard regional integration as heightened tensions in the global arena reduce goods trade and cross-border investments,...
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2026 REVENUE TARGETS CUT ON SLOWER GROWTH
THE government has cut its revenue target for this year after lowering its economic growth outlooks, as slower activity is expected to drag on collections and overall fiscal performance. This adjustment was revealed to reporters on Thursday after...
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BIR PREPS FOR RETURN OF LOA, VOWS REFORMS
THE Bureau of Internal Revenue (BIR) is moving closer to resuming its issuance of letters of authority (LOAS) as reforms are under way to improve the system. In a statement on Wednesday, the BIR said it rolled out its five-point priority reform...
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BOP SWINGS TO DEFICIT AS IMPORTS RISE IN ’25
THE $5.7-billion deficit in the Philippines’s balance of payments (BOP) in 2025, a reversal of the $609-million surplus posted in 2024, can be attributed to importdriven demand, weaker exports and investment flows in recent months, according to...
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IMF CUTS PHL GROWTH OUTLOOK FROM ’25 TO ’27
THE International Monetary Fund (IMF) sees the “slower pace” of capital accumulation to drag Philippine economic growth until 2027, according to IMF’S World Economic Outlook (WEO) Update. Based on the report, IMF slashed its growth projections for the...
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