ECCP at Work

Philippines jumps four spots in global competitiveness index

The Philippines climbed four spots in a global competitiveness index, although weakness in government efficiency and infrastructure kept it among the lower-ranked economies in the Asia-Pacific region, according to the IMD World Competitiveness Center (WCC).

Philippine healthcare spending rises to 6.7% of GDP in 2025

Healthcare spending accounted for a larger share of the Philippine economy in 2025, as inflation and increased spending boosted health expenditures.

IMF urges BSP to refine digital currency roadmap

The Bangko Sentral ng Pilipinas (BSP) should refine its roadmap for a wholesale central bank digital currency (CBDC) by setting clearer policy goals, legal safeguards and success metrics before moving to a more advanced experimentation, the International Monetary Fund said.

ADB eyes digital highway to close Asia-Pacific AI gap

The Asian Development Bank (ADB) is putting digital infrastructure and artificial intelligence at the center of its development agenda, launching a new strategy anchored by a $20-billion initiative to expand connectivity across Asia and the Pacific.

Senate approves on second reading bills on agri services, cooperatives

Sen. Francis Pangilinan’s proposed twin measures to renationalize agricultural extension services and strengthen agricultural cooperatives took a step forward on Wednesday as the Senate passed them on second reading.

BSP lets banks run digital financial marketplaces

Banks and other financial institutions may now turn their digital platforms into financial marketplaces, allowing customers to compare and access a wider range of financial products inside mobile banking apps and similar channels. The Bangko Sentral ng Pilipinas (BSP), through Circular No. 1237 dated June 16, has issued the rules allowing banks and non-bank financial institutions to operate digital financial marketplaces, subject to capital, licensing, governance and consumer protection requirements.

DA seeks tougher stance vs illegal tobacco trade

The Department of Agriculture is looking to strengthen its fight against illegal tobacco trade through further coordination with industry stakeholders and international partners. Agriculture Undersecretary Roger Navarro said the Philippines, as chair of the Association of Southeast Asian Nations (ASEAN), should leverage its position to improve anti-illicit tobacco protocols.

PHL raises $2.5B from global bonds

The Philippine government raised $2.5 billion from its triple-tranche US dollar-denominated bond offering, as it returned to the global capital markets for a second time this year.

Global wind group eyes P30 billion boost for Philippines port modernization

A global wind energy organization is seeking to mobilize at least $500 million (about P30 billion) to help modernize Philippine port infrastructure and unlock the country’s vast offshore wind potential.

High energy costs still haunt PH, Southeast Asia neighbors

Households in the Philippines and in neighboring countries continue to face significant pressure from elevated energy costs, the International Energy Agency (IEA) said in its latest Southeast Asia Energy Outlook.

Gatchalian assumes Senate presidency

Thirteen senators, 12 from the Gatchalian bloc plus Sen. Joel Villanueva, on Wednesday formally elected Senate President Protempore Sherwin Gatchalian as the fourth Senate President of the 20th Congress, ending a stalemate that had disrupted lawmaking in the chamber, and cast uncertainty over the timeline of the looming impeachment trial of Vice President Sara Duterte.

Nomura: PH inflation seen falling faster on lower oil prices

The Philippines is poised to be one of Asia’s biggest beneficiaries from the tentative peace deal between the United States and Iran, with lower oil prices expected to accelerate the country’s inflation slowdown, according to Nomura Global Markets Research.

DEPDev says PH economy better shielded from global shocks

The Philippines remains in a stronger position to withstand a difficult global environment, but must deepen reforms to make growth more inclusive, job-generating and resilient to shocks, the Department of Economy, Planning and Development said.

DA sees input cost relief after US-Iran peace deal

The Department of Agriculture said it expects the peace deal to ease fuel, fertilizer and freight costs due to the reopening of the Strait of Hormuz. Fuel prices are expected to return to pre-Iran war levels in the next six to 12 months, according to the Department of Energy.

Pag-IBIG launches cash assistance to cushion US-Iran war impact

Home Development Mutual Fund or the Pag-IBIG Fund has launched a new cash assistance program for urgent needs to help members cope with rising household expenses amid the Middle East war.

42 Philippines firms make it to 2026 Fortune Southeast Asia 500

More Philippine companies landed in this year’s edition of the Fortune Southeast Asia 500, a prestigious list of the region’s largest firms by revenue. Entering the 2026 list are a total of 42 Filipino companies, up from 40 firms last year and 38 in the inaugural list released in 2024.

Philippines launches fresh global bond offer

The Philippines is tapping the global bond market for the second time this year, launching a fresh triple-tranche dollar-denominated global bond offering, supported by an investment-grade rating from Moody’s Ratings.

Slowdown in remittances expected to continue

Jeremaiah M. Opiniano, executive director of the Institute for Migration and Development Issues, said the Philippines should brace for a potentially prolonged slowdown in remittance growth as the economic fallout from the Middle East conflict continues.

Marcos, Putin eye stronger PH-Russia ties in food, energy security 

The two leaders held a bilateral meeting on the sidelines of the ASEAN-Russia Commemorative Summit in Kazan, where Marcos is participating in his capacity as ASEAN Chair. Marcos pointed out that energy and food security emerged as key priorities during the fourth meeting of the Joint Commission on Trade and Economic Cooperation held in Moscow last year. 

Gov’t raises $2.5-B from triple-tranche dollar-dominated bond sale 

The government has raised USD2.5 billion through a triple-tranche dollar bond offering, marking the Philippines’ second foray into the international capital markets this year. The offering drew strong international investor demand, with the order book reaching 4.4 times the amount offered. This allowed the BTr to increase the transaction size to USD2.5 billion from the initial USD2 billion target. 

BSP tightens screening rules for bank directors, officers

The Bangko Sentral ng Pilipinas (BSP) has tightened the screening process for individuals seeking to become directors, trustees, officers or employees of banks and other supervised financial institutions, as part of efforts to strengthen background checks and ensure that key personnel are fit to hold sensitive posts.

PH backs 15% minimum tax on foreign investors

The Philippines wants to pass a law this year allowing it to collect a 15-percent minimum tax from large multinational companies, preventing other countries from capturing revenue that could otherwise go to Manila under global tax rules, Finance Secretary Frederick Go said. 

Gov’t releases nearly 88% of 2026 budget; DPWH picks up pace

The national government has now disbursed 87.7 percent of the P6.793-trillion 2026 national budget as of end-May, latest data from the Department of Budget and Management (DBM) showed.

Global risks spark another tweak in growth assumptions

President Marcos’s economic managers have once again adjusted the country’s growth assumptions to account for a more uncertain global environment, with risks ranging from geopolitical conflicts to disruptions in trade and financial markets.

BSP hikes rates anew on inflation pressure

The Bangko Sentral ng Pilipinas (BSP) raised its benchmark interest rate for a second straight meeting as inflation pressures broadened, but signaled that future moves would likely remain measured unless second-round effects worsen.

SEC extends discounted fees for MSMEs

The Securities and Exchange Commission (SEC) has extended the discounted fees for the registration of securities for micro, small and medium enterprises (MSMEs) until the end of the year to encourage them to raise funds through the capital market.