PBBM seeks more funding for education
President Ferdinand R. Marcos Jr. is pushing for higher funding for the education sector, following the DepEd’s budget cut and lack of funding for the Technical Education and Skills Development Authority’s (TESDA) programs for 2025.

DA to declare food security emergency
The DA said it will likely declare a food security emergency for rice as prices of the staple grain remain stubbornly high.

Philippine economy seen to expand by 6.1%
The Philippine economy is projected to grow by 6.1 percent this year, supported by household spending as well as public investment, according to Moody’s Ratings.

Marcos inks law to develop natural gas industry
President Ferdinand R. Marcos, Jr. has signed into law a bill that aims to develop the country’s natural gas industry as the Philippines seeks to diversify its power mix and fast-track its transition to RE.

IT-BPM revenues hit $38 billion in 2024
Revenues of the information technology and business process management (IT-BPM) industry reached $38 billion in 2024, achieving the baseline target for the year amid strong demand from global firms.

Remittances jump 3.3% in November
Money sent home by OFWs rose by an annual 3.3% in November amid the peso depreciation against the US dollar, the BSP said. Data from the central bank showed that cash remittances coursed through banks grew by 3.3% to $2.81B in November from $2.72B in the same month a year ago.

DA backs resolution calling for food security emergency to lower rice prices
The DA backed the National Price Coordinating Council (NPCC) resolution urging the declaration of a food security emergency for rice. Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement that the approved resolution is a ‘critical move’ to ensure rice prices become affordable.

Government released nearly ₱23B for managing disaster risks
The government released a total of ₱22.598B from the National Disaster Risk Reduction and Management Fund (NDRRMF) in 2024 for relief and rehabilitation services caused by disasters. Data from the Department of Budget and Management showed 99.39% of the ₱22.735B appropriated amount for calamity funds has been disbursed as of end-December 2024.

BMI forecasts 6.3% growth for PHL this year
Further monetary easing is seen to prop up GDP growth in the Philippines, Fitch Solutions’ unit BMI said, as this would provide much-needed support to domestic demand.

DA: Pork supply may fall short as ASF crimps hog output
The Department of Agriculture (DA) said the Philippines could face a shortfall in pork supply until the end of March this year.

Disease dampens 2024 PHL banana exports
Philippine banana exports fell 2.97% in 2024, with the industry currently dealing with Fusarium wilt, also known as Panama disease, FAO said. In its Banana Market Review, the FAO said that preliminary data indicate that exports of Philippine bananas dropped to 2.28 million metric tons (MMT) in 2024.

PH vehicle sales hit fresh record-high in 2024
Vehicle sales hit a new record-high in 2024, although that was not enough to hit the industry’s growth target for last year.

PBBM to DICT: Prioritize CTP implementation
President Ferdinand Marcos ordered the DICT to prioritize the implementation of its Common Tower Program (CTP) to provide more people better communication and internet access.

PHL enhances readiness, participation in global carbon market
The Philippines is enhancing readiness for carbon market mechanisms and is eyeing participation in the global carbon market with the support of the ADB and other partners.

Agri sustains P68M weather-related damage 
The agriculture sector has sustained damage worth P67.68 million from the effects of the prevailing weather systems in the country during the transition into the new year, the latest data from the Department of Agriculture’s Disaster Risk Reduction and Management Operations Center showed.

2024 car sales rise but miss target
New vehicle sales in the Philippines hit a record-high 467,252 in 2024, but fell short of the full-year target, according to an industry group. A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed total vehicle sales last year jumped by 8.7% from 429,807 units in 2023.

BIR says it exceeded 2024 collection goal
The Bureau of Internal Revenue (BIR) on Tuesday said it exceeded its revised P2.85-trillion collection goal in 2024, mainly driven by value-added tax (VAT) collection.

Meralco lowers power rates for Jan. 
Residential customers in areas served by Meralco will see a reduction in their electricity bills this month, mainly due to lower generation charges for the period. The overall rate will go down by P0.2189 per kilowatt-hour (kWh) to P11.7428 per kWh in January from P11.9617 per kWh in December.

UAE’s Masdar to invest $15B in RE projects in PHL
Masdar, a state-owned renewable energy firm in the United Arab Emirates (UAE), is planning to invest around $15 billion (approximately P878 billion) in renewable energy (RE) projects in the Philippines.

Philippine financial system resources up 8.8% at end-November 
The total resources of the Philippine financial system rose by 8.8% year on year as of end-November, preliminary data from the BSP showed. BSP data showed the resources of banks and nonbank financial institutions (NBFIs) jumped to P33.08 trillion as of end-November from P30.39 trillion in the same period in 2023.

Alternergy secures P1-B loan for Bataan solar project 
Alternergy Holdings Corp., through its unit Solana Solar Alpha, Inc., has secured a P1-billion loan from Rizal Commercial Banking Corp. (RCBC) to fund the construction of its 28-megawatt-peak (MWp) Balsik Solar Power Project in Hermosa, Bataan.

NPL ratio eases in November 
The Philippine banking system’s gross nonperforming loan (NPL) ratio eased in November, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. The industry’s gross NPL ratio slipped to 3.54% in November from the over two-year high of 3.6% in October. However, it rose from 3.41% in the same month a year ago.

PEZA seeking to raise share of electronics locators in ecozones
The Philippine Economic Zone Authority (PEZA) said that it is hoping to increase electronics manufacturing services and semiconductor manufacturing services (EMS-SMS) investments in economic zones (ecozones).

PSE releases ESG compliance guide 
The Philippine Stock Exchange (PSE) recently launched a sustainability report guidebook for publicly listed companies to enhance environmental, social, and governance (ESG) compliance.

BSP eyes PH shift to coin-lite society 
The Bangko Sentral ng Pilipinas (BSP) will double down on its efforts to promote digital payments in the country by eventually weaning the country from its dependence on coins for payments.

BSP cautions banks against dealing with delinquent firms 
The Bangko Sentral ng Pilipinas (BSP) has told banks to exercise caution when doing business with companies that are at risk of losing their incorporation papers for failure to submit their annual financial statements.

Government to implement $24.9 million pandemic fund 
A ranking official of the Department of Agriculture (DA) yesterday said the government is expected to start implementation of the $24.9-million Pandemic Fund in the first quarter this year after the Philippines was able to secure the grant to boost the country’s campaign against future animal and human threats.

BPI forecasts 6.3% PH 2025 economic growth, topping 2024
The Philippine economy may grow a further 6.3 percent this year, right within the 6 and 6.5 percent target range by the government for 2025 and above the growth rate in the third quarter last year, with household consumption remaining brisk despite the slowdown in many global economies, a major local bank’s economist said.

PPA revenues at all-time high of P27B 
The Philippine Ports Authority (PPA) achieved its highest annual revenue after posting a total of P27.3 billion in 2024, surpassing its target of P26 billion.

DOF to listen to comments on tobacco excise tax proposals
Finance Secretary Ralph Recto said the Department of Finance (DOF) is willing to listen to all stakeholders amid congressional calls for a moratorium on the excise tax for tobacco products.

PSEi dives to 7-month low
The local bourse retreated to the 6,200 level on Thursday as investors pocketed gains at the last minute, erasing the previous day’s gains.