Thursday, June 30, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

PH economic fundamentals remain strong, says Diokno

Julito G. RadabyJulito G. Rada
May 24, 2022, 7:05 pm
in Business, Economy & Trade
Reading Time: 2 mins read
A A
162
SHARES
Share on FacebookShare on TwitterShare on Email

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Tuesday the country’s economic fundamentals remain strong after years of implementing structural reforms,

“The Philippine economy is much stronger now than before. Right now, our foreign debt is 30 percent foreign and 70 percent domestic, and we have hefty gross international reserves,” Diokno said during the Citi 2022 Virtual Macro Forum.

Diokno said the country’s strong fundamentals were built through decades of continued implementation of structural reforms and sound macroeconomic management.

He said it was important to strengthen economic fundamentals during periods of relative stability to develop buffers during times of crises. “Economies with strong fundamentals tend to handle crises better.”

Diokno cited the Philippines as a good example of an economy with sound fundamentals when the COVID-19 health crisis struck. 

ADVERTISEMENT

He said the economy entered the pandemic with healthy external accounts and hefty gross international reserves, which helped maintain relative order in the financial markets amid the crisis.

Diokno also said ensuring full economic recovery and maintaining long-term economic potential would require the implementation of recent economic reforms, such as the Corporate Recovery and Tax Incentives for Enterprises law and the amendments to the Foreign Investments Act, Public Services Act and Retail Trade Liberalization Act.

The Citi 2022 Virtual Macro Forum is a series of roundtable discussions with financial market participants structured around the IMF-World Bank Spring Meetings.

The pandemic caused a 9.6-percent GDP contraction in the Philippines in 2020, its worst performance since World War 2, because of the impact of the pandemic. The economy rebounded in 2021 with a growth of 5.7 percent, as the government gradually reopened its borders and business sectors amid the continuing massive vaccination program that boosted business and consumer confidence.

Data from the Philippine Statistics Authority showed that the recovery continued on the first quarter this year with an expansion of 8.3 percent, a sharp reversal of the 3.8-percent contraction a year ago.

Diokno earlier said the second-quarter growth might be stronger in the absence of COVID-19 surge during the period. The government earlier projected a GDP growth of 7 percent to 9 percent this year.

The BSP governor cited the country’s solid external position, strong banking system, manageable inflation environment, stable currency, investment grade ratings from global credit rating agencies, declining unemployment rate and sustained inflows of overseas Filipino remittances as the country’s strengths going forward.

Tags: Bangko Sentral ng PilipinasBSP Governor Benjamin DioknoEconomic fundamentalsPhilippine economy
ADVERTISEMENT
Julito G. Rada

Julito G. Rada

Related Posts

GLOBAL-ESTATE RESORTS, INC.: Notice of the Annual Stockholders’ Meeting

byManila Standard
June 30, 2022, 6:00 am
0
130
GERI sees P1b in sales from new project in Cavite

NOTICE AND AGENDA OF THE ANNUAL STOCKHOLDERS’ MEETING TO ALL STOCKHOLDERS: NOTICE IS HEREBY GIVEN that the 2022 Annual Meeting...

Read more

Demand for office space surged in second quarter

byJenniffer B. Austria
June 29, 2022, 7:40 pm
0
147
Land values exceed pre-pandemic levels to hit new record

Office space demand more than doubled in the second quarter to 255,000 square meters from 124,000 sq. m. in the...

Read more

Peso slumps, now at 55.06 versus dollar

byJulito G. Rada
June 29, 2022, 7:30 pm
0
170
Peso climbs further to 48.625 vs. dollar

The peso on Wednesday broke the 55-per-dollar boundary on the possibility of more aggressive rate hikes by the US Federal...

Read more

Pag-IBIG’s five-month loans hit record P40.4b

byManila Standard
June 29, 2022, 7:20 pm
0
136
Pag-IBIG Fund finances homes of more than 18,000 low-wage earners in Jan-Sep 2019

Pag-IBIG Fund surpassed its own record by releasing over P40 billion in home loans in the first five months, top...

Read more

Valencia Group buys 8,000 Globe Asiatique units

byRoderick T. dela Cruz
June 29, 2022, 7:10 pm
0
162
Valencia Group buys 8,000 Globe Asiatique units

Westchester Realty Corp., a property firm led by the family of former Governor Rodolfo Valencia, acquired and took over more...

Read more

PCIC now under supervision of IC

byManila Standard
June 29, 2022, 7:00 pm
0
164
Dominguez asks LandBank and GSIS to help strengthen PCIC finances

Finance Secretary Carlos Dominguez III has placed Philippine Crop Insurance Corp. (PCIC) under the supervision of the Insurance Commission (IC)...

Read more

Stories you may like

  • Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    36802 shares
    Share 14721 Tweet 9201
  • Of course, it was BBM’s project

    30897 shares
    Share 12359 Tweet 7724
  • INC endorses BBM, Sara

    28811 shares
    Share 11524 Tweet 7203
  • Duterte’s seven biggest achievements

    22090 shares
    Share 8836 Tweet 5523
  • Marcos leads SWS survey on presidentiables at 50%

    13584 shares
    Share 5434 Tweet 3396

Print Edition

View More

Recent Posts

  • GLOBAL-ESTATE RESORTS, INC.: Notice of the Annual Stockholders’ Meeting
  • Sneakers for Makati : AB4.0
  • Handover: Fresh start begins
  • First Family to showcase local fashion design in barong, terno
  • No signal jamming at inauguration site
  • Marcos: I’ll sue agri smugglers; Sotto: I’ll spill all
  • Calida moves to COA, Veloso to GSIS, Manalo likely to DFA
  • LTFRB grants jeepneys P2 fare increase

Advertisement

Latest News

Marcos: I’ll sue agri smugglers; Sotto: I’ll spill all

byMacon Ramos-Aranetaand3 others
June 30, 2022, 1:45 am
0
229
Musk buys Twitter, vows to let users fight trolls, disinformation

President-elect Ferdinand Marcos Jr. has vowed to prosecute all personalities involved in agricultural smuggling in the country, as he had...

Read more

Calida moves to COA, Veloso to GSIS, Manalo likely to DFA

byRey E. Requejoand1 others
June 30, 2022, 1:40 am
0
284
Lawyer presses SolGen to move for SC justice ouster

President-elect Ferdinand Marcos Jr. has designated outgoing Solicitor General Jose Calida as chairman of the Commission on Audit and Jose...

Read more

LTFRB grants jeepneys P2 fare increase

byManila Standard
June 30, 2022, 1:35 am
0
148
Sherman meets Marcos, talks on PH-US alliance

The Land Transportation Franchising and Regulatory Board approved an P11 provisional minimum fare for jeepneys nationwide. For Metro Manila, Calabarzon,...

Read more

SEC orders Rappler shut down

byMacon Ramos-Araneta
June 30, 2022, 1:30 am
0
157
Keng files 2nd cyber libel case vs. Ressa

The news company Rappler was ordered Wednesday to shut down, a day before President Rodrigo Duterte is due to leave...

Read more

DOH revises risk metrics for COVID alert

byWillie Casas
June 30, 2022, 1:25 am
0
145
Duque says no stopping of jabs for kids amid case vs. it

Five Metro Manila areas earlier declared to be under a moderate risk for COVID-19 will revert to a low-risk classification...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App