ECCP at Work

PHL ‘has moved closer’ to threshold of upper middle-income status — World Bank

The World Bank said the Philippines is approaching the gross national income (GNI) per capita threshold that would lead to its reclassification as an upper middle-income country (UMIC).

BSP tracks Mideast war impact on PHL

The Bangko Sentral ng Pilipinas (BSP) said it is closely monitoring the impact of the escalating Middle East war on inflation and the broader economy as it prepares for its April 23 policy meeting.

E-vehicles selling faster than gas-powered cars

Vehicle sales slid by nine percent from January to February compared to a year ago, but sales of electrified vehicles bucked the trend, surging by 67 percent over the same period.

Fuel excise tax bill rushed, but it won’t be used–yet

The House of Representatives on Wednesday adopted the Senate version of a bill granting President Ferdinand Marcos Jr. the authority to suspend excise taxes on fuel during national or global economic emergencies, as part of lawmakers’ efforts to rush passage of a bill that the President had certified urgent.

Philippines among Asian countries most vulnerable to global energy shock

The Philippines is among the most exposed emerging economies in Asia to the Middle East war–induced energy shock, weighed down by its heavy reliance on imported fuel and limited fiscal buffers, the Institute of International Finance (IIF) said.

Moody’s sees no imminent PHL rating downgrade

Moody’s Ratings is unlikely to downgrade the Philippines’ credit rating in the near-term despite emerging risks from the Middle East war considering the country’s strong external position and reserves buffer, its analysts said.

NGCP proposes P23.9-billion Batangas-Mindoro subsea cable

The National Grid Corp. of the Philippines (NGCP), the country’s sole grid operator, is proposing to develop a P23.9-billion submarine cable to allow Batangas to export much-needed electricity to Oriental Mindoro.

BSP ready to provide liquidity support amid energy shocks

The Bangko Sentral ng Pilipinas (BSP) stands ready to provide additional liquidity as oil price shocks rattle global markets, pledging to safeguard financial stability and keep the system functioning if external pressures intensify.

‘Energy, fertilizer cost spikes imperil food systems’

The Asian Development Bank (ADB) on Tuesday warned that the ongoing conflict in the Middle East could raise energy and fertilizer costs, adding pressure on food systems across Asia and the Pacific.

LTFRB approves commuter fare hikes as oil prices rise

The Land Transportation Franchising and Regulatory Board (LTFRB) said it has approved fare hikes for jeepneys, buses, transport network vehicle services, point-to-point buses and airport taxis in Metro Manila, effective from Thursday, March 19.