ECCP at Work

El Niño, prolonged Middle East war seen keeping Philippine inflation elevated

Headline inflation could stay above the Philippine central bank’s target for longer if price pressures worsen amid the looming El Niño season, renewed Middle East conflict, and a potential de-anchoring of inflation expectations.

Government recalibrates BIR, BOC collection targets

Economic managers have lowered the government’s tax revenue goal to P4.44 trillion this year, along with adjustments to the collection targets of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC).

PHL among ASEAN’s most AI-exposed workforces, but mass job disruption yet to emerge—ILO

The Philippines ranked second in Southeast Asia in terms of workers exposed to generative artificial intelligence (GenAI), but the International Labour Organization (ILO) said there is still no sign of widespread job disruption linked to the technology.

Gov’t sees upskilling as key to raising wages

The government is focused on upskilling the workforce en route to ensuring wage growth and making workers ready for the future, the Palace said on Thursday.

DA seeks ₱1-B fuel subsidy scheme for farmers, fishers

The Department of Agriculture (DA) is seeking a P1-billion budget for its fuel subsidy program for farmers and fishers affected by hefty input costs wrought by the global oil crisis.

Middle-income status a policy challenge, not a trap – UN economist 

The Philippines’ move into the upper-middle-income category brings a tougher development challenge, but prolonged stagnation at this stage should not be treated as an inevitable “middle-income trap,” a senior United Nations economist said.

DoF prioritizes signing of Pax Silica deal within the year

The Philippines is hoping to sign a framework agreement under the US-led Pax Silica initiative before the end of the year as it seeks to position New Clark City as a hub for artificial intelligence (AI) and semiconductor manufacturing.

PH unemployment rises to 4.8% in May

The unemployment rate edged up to 4.8 percent in May from 4.7 percent in April and 3.9 percent a year earlier, the Philippine Statistics Authority said Wednesday, translating to 2.50 million jobless Filipinos, up from 2.41 million in April and 2.03 million in May 2025. 

Inflation cools to 6.4% in June

Inflation eased for the second straight month in June, driven by slower increases in transport and food costs, but the Bangko Sentral ng Pilipinas (BSP) remains on guard.

‘Philippines internet quality barely ready for AI workloads’

The Philippines may be dreaming of becoming a digital powerhouse in Asia-Pacific, but the quality of its 5G network struggles to meet artificial intelligence (AI) workloads.

PH property market faces rough quarters but remains sound

The Philippine property market remains structurally sound despite a near-term squeeze from slower economic growth, elevated inflation, and higher interest rates, according to Leechiu Property Consultants (LPC) on Tuesday.

Grants keep flowing after UMIC upgrade – Go

Finance Secretary Frederick Go said bilateral grants and other forms of development assistance continue to flow to the Philippines despite its graduation to upper-middle-income country status. 

Contestable retail power consumers’ realized savings estimated at P4.91 billion

Savings realized by electricity consumers in the competitive retail electricity market (CREM) were estimated at P4.91 billion in the first three months, even in the face of higher power generation rates charged by distribution utilities (DUs), according to the Philippine Electricity Market Corp. (PEMC).

Jobless Pinoys hit 2.5-M in May

Around 2.5 million Filipinos were jobless in May, the Philippine Statistics Authority (PSA) said on Wednesday.PSA data showed the unemployment rate stood at 4.8 percent, up from 4.7 percent in April and 3.9 percent in May last year.

‘Too early to rejoice over easing inflation’

While headline inflation eased for a second straight month in June, economists warned that the fight against rising prices is far from over as underlying inflationary pressures continue to build. Data released by the Philippine Statistics Authority (PSA) on Tuesday showed headline inflation slowed to 6.4 percent in June from 6.8 percent in May.

Wage-price spirals seen to spur ‘high alert’ for BSP

Wage-price spirals may prompt the Bangko Sentral ng Pilipinas (BSP) to stay on “high alert” even after inflation eased for two straight months, as the spillover effects of the wage hike to core inflation may be significant, economists said.

ADB, IMF downgrade PH growth outlook

The Asian Development Bank (ADB) and the International Monetary Fund (IMF)  have again cut their growth forecasts for the Philippines as the prolonged US-Iran conflict disrupts energy supplies and supply chains, drives up food and fuel prices, and weighs on investment and consumption.

Bank lending jumps 12%, fastest in 15 months

Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the outstanding loans of universal and commercial banks expanded by 12.1 percent year-on-year in May, faster than the 11.4 percent growth in April.

Rice imports rise to record 2.75 million MT in H1

The country imported 2.75 million metric tons (MT) of rice in the first half, marking a record-high volume for the period, the Bureau of Plant Industry said. Latest BPI data showed that rice imports increased by 20.1 percent, or about 460,000 MT, during the first six months from 2.29 million MT in the same period last year.

BIR restores excise taxes on LPG, kerosene

The Bureau of Internal Revenue (BIR) said Wednesday that excise taxes on kerosene and liquefied petroleum gas (LPG) have been restored effective July 8 after the average price of Dubai crude fell below $80 per barrel.

Maharlika, PNOC sign deal on fuel storage tank farm dev’t

The Philippine National Oil Co. (PNOC) and the Maharlika Investment Corp. (MIC) signed a memorandum of understanding (MOU) to explore the development of a storage tank farm project in Bataan.

‘Significant’ revenue gains seen from property valuation reform

The Real Property Valuation and Assessment Reform Act (RPVARA) is expected to raise local government revenue by “significant” amounts starting 2030 once the revised valuations kick in, the Department of Finance (DoF) said.