ECCP at Work

Inflation in May Slows Further to 1.3% from 1.4% in April
Philippine headline inflation eased further to 1.3 percent in May, a new six-year low, from 1.4 percent in April, as annual increases in utilities and transportation costs slowed, the Philippine Statistics Authority (PSA) said on Thursday.

PEZA’s May investment pledges hit P66 billion
The Philippine Economic Zone Authority (PEZA) approved P66.34 billion worth of investment pledges in the first five months – 80% higher than a year earlier – that could generate more than 29,000 more jobs and $1.092 billion in exports.

OECD sees Philippine growing by 5.6 percent this year
According to the Organization for Economic Cooperation and Development (OECD), the Philippine economy is most likely to grow by 5.6 percent this year, slightly lower than last year’s 5.7 percent expansion due to an anticipated slowdown in major economies.

BOI to recalibrate 2025 investment target
The Board of Investments (BOI) is reviewing its investment approvals target for the year following the nearly 50-percent drop in the January to May tally.

Gov’t debt hit fresh high of P16.75T in April
The government’s outstanding debt rose to a new record-high of P16.75 trillion in April, although the increase was tempered by the effect of a strong peso. Latest data from the Bureau of the Treasury (BTr) showed state liabilities inched up by 0.41 percent or P68.89 billion on a month-on-month basis.

More vibrant capital market with new CMEPA legislation
According to SEC, there may be more local capital market participation in the coming months, following the enactment of a law: Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA) that President Marcos had signed into law last May 29.

BSP enables banks to freeze funds
Banks and financial institutions that the Bangko Sentral ng Pilipinas (BSP) supervisors may now temporarily hold suspicious funds to stop fraudsters and other financial criminals. The regulator said the intention is to prevent the movement of money stolen from one account to another.

Iloilo City power rate still cheapest in Western Visayas
Consumers in Iloilo City, served by Razon-led MORE Electric and Power Corp. (MORE Power), continue to pay the lowest electricity rates in Western Visayas.

PHL shows solid growth momentum, OECD says
The Philippines growth momentum remains “broadly stable,” even as global trade tensions would make it hard to hit the 6-8% growth target in the next two years, an Organisation for Economic Cooperation and Development (OECD) said.

New SEC chief urged to boost capital market development
The recent appointment of prominent lawyer Francisco Edralin Lim as the new chairperson of the Securities and Exchange Commission (SEC) received the backing of top corporate executives, business groups, and market analysts, who urged him to push initiatives to develop the local capital markets.

CMEPA revenue projection lower with selective veto 
The national government was initially projected to generate as much as P41.893 billion in revenues within five years under the newly enacted Capital Markets Efficiency and Protection Act (CMEPA).

BSP proposes changes to regulatory relief policy
The Bangko Sentral ng Pilipinas (BSP) is seeking to amend its regulatory relief policy for banks in order to provide them with more support during calamities and disasters.

Peso, stocks edge higher; fresh economic data awaited 
On June 3, the PESO and stock market edged up with expectations of a further inflation slowdown and other positive economic developments said to have outweighed concerns over global trade. The currency strengthened by four and a half centavos to P50.70 while the benchmark Philippine Stock Exchange index (PSEi) added 11.13 points, or 0.18 percent, to close at 6,352.66.

Rice stocks rise to year-high in May 
The country’s rice stocks rose by 14 percent to its highest level this year at over 2.3 million metric tons (MT) in May, the Philippine Statistics Authority said. The latest PSA report showed that nationwide rice inventory as of May 1 stood at 2.37 million MT, almost 300,000 MT higher than the 2.07 million MT recorded stocks in the same month last year. The increase in rice stocks can be attributed to the dry season harvest as well as continuous entry of imported supplies, according to industry sources.