ECCP at Work

BoP position swings to $706-million surplus in October

The Philippines’ balance of payments (BoP) position swung to a surplus in October, narrowing the country’s external position gap in the 10-month period, the central bank said.

DoF warns VAT rate cut could slash P1 trillion in revenue and risk credit rating downgrade

The Department of Finance (DoF) expressed “strong reservations” regarding a proposal to lower the value-added tax (VAT) rate, warning it could cost the government more than P1 trillion in foregone revenues through 2030 and undermine its fiscal consolidation efforts.

DICT chief targets to raise digital economy’s share to GDP to 12.5%

The Department of Information and Communications Technology (DICT) is aiming to increase the share of the digital economy to gross domestic product (GDP) to 12.5% by 2028, by fast-tracking digital infrastructure projects and attracting more hyperscalers to operate in the country.

ERC unifying proposals for Epira changes

The Energy Regulatory Commission (ERC) is consolidating key proposals to amend the Electric Power Industry Reform Act (Epira).

DOF chief Go vows ‘real, tangible progress’

Newly-appointed Finance Secretary Frederick D. Go vowed to translate government policies into “real, tangible progress that every Filipino can feel,” as he formally took the helm of the Department of Finance (DOF). 

DOE eyes partnership with govt financial sector to jump-start RE use

The Department of Energy (DOE) said it is working with government and financial sector partners to design new low-interest financing models for renewable energy (RE) developers. These models will be used to accelerate the hybridization of off-grid areas served by the Small Power Utilities Group (SPUG).

Economy likely to grow below target as corruption issues drag on 

The Philippine economy will likely grow below target this year and in 2026, as it continues to be weighed down by a global economic slowdown and corruption issues, an economist said.

Trade deals boosting PHL imports more than exports, DEPDev says

Philippine imports are outperforming exports after it signed a number of free trade agreements (FTAs), the Department of Economy, Planning, and Development (DEPDev) told the House of Representatives.

Government to lose over P6 billion from rice import ban

The government’s ongoing rice importation ban could potentially result in losses of over P6 billion for the Bureau of Customs (BOC) this year as reduced shipments continue to prevent the agency from reaching its revenue target.

Compendium to guide PHL water research priorities, DOST says

The science agency’s newly launched Water Compendium is expected to help shape water-related research priorities by showing national and local officials the range of homegrown technologies already available, per the department.

ERC seeks comments on RORH power projects’ feed in tariff

THE Energy Regulatory Commission (ERC) is soliciting comments from industry stakeholders on the proposed Feed-in-Tariff (FIT) fourth round for run-of-river hydro (RORH) power projects.

New Philippine finance minister expected to retain policies, rating firms say

The Philippines’ credit profile is expected to be unaffected under the new finance minister with rating agencies, which rank the nation as investment grade, expecting policy continuity.

BSP: Rate cut ‘possible’ in December

The Bangko Sentral ng Pilipinas (BSP) could cut policy rates again at its December meeting, its governor said on Tuesday.

Most agri exports exempted from US tariffs — DTI

Most of the Philippines’ agricultural exports are now exempted from the 19% US reciprocal tariff, according to government officials.

DBCC seen to trim growth goals

The sharp slowdown in government spending tied to the widening flood control corruption scandal is pushing the Philippines to cut its medium-term growth goals, with the DBCC likely to trim its 2026 target to 5-6%, Executive Secretary and former Finance Secretary Ralph G. Recto said. 

‘Economy to expand below target in 2026’

The Department of Finance said the Philippine economy is expected to grow anywhere from five to six percent next year, falling short of earlier targets amid slower-than-anticipated growth and lingering economic challenges.

Philippines seen to secure new hyperscaler investment

The Philippines may announce a new hyperscaler investment as early as next year, the DICT said, as it ramps up efforts to improve power access, enhance connectivity and craft more attractive policies for global data center operators.