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IMF sees growth boost from higher spending
DAVAO CITY, Philippines – Philippine growth forecasts may be revised upward on the back of higher spending plans by the incoming administration, the International Monetary Fund (IMF) said yesterday.“I think the growth outlook could be different, especially depending on the fiscal outlook,” IMF resident representative Shanaka Jayanath Peiris told reporters on the sidelines of the Sulong Pilipinas business workshop.“If the higher spending comes from public investment then you generally assume that the multiplier on spending is hig... EU sees anti-corruption drive increasing investment in PHL
DAVAO CITY -- The Philippines can expect more investment from European Union (EU) member states especially with president-elect Rodrigo R. Duterte’s decision to prioritize the battle against corruption. “Mr. Duterte spoke about his campaign against corruption and with Europe’s very high standards against corruption the more transparent countries can expect more investments,” EU Ambassador Franz Jessen said in an interview.Mr. Jessen, who paid a call on Mr. Duterte on Monday night, said if the Philippines can succeed in its cam... Foreign tourist expenditures doubles in past 5 years
MANILA, Philippines - The share of foreign visitors’ expenditures to the country’s total exports has doubled in the past five years, the Philippine Statistics Authority (PSA) reported.Foreign spending reached P307 billion in 2015, accounting for 8.2 percent of total exports of good and services, up from the 4.2 percent share in 2010.This was a steady rise since 2011 when the figure was at 6.8 percent, before it rose to seven percent in 2012, 7.2 percent in 2013 and 7.5 percent in 2014.“The positive outlook of the industry, the...
IRO Message
Dear IRO stakeholders, 
We are pleased to send you a copy of the maiden issue of the Investor Relations Office’s (IRO’s) newsletter, ECONOMYPH. -
The newsletter, which we intend to be distributed on a quarterly basis, aims to provide regular updates on the Philippines’ economy. 
Besides reports on latest statistic...
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