Infrastructure spending sharply lower in October on month-on-month basis

INFRASTRUCTURE spending fell 38.3% month on month in October to P61.2 billion, according to the Department of Budget and Management (DBM). The DBM said on Tuesday that on a year-on-year basis, expenditure on infrastructure and other capital outlays rose 0.5%. The DBM said in October, disbursements fell for the Armed Forces of the Philippines Modernization […]

Become financially fit this 2023: 5 money pitfalls you need to avoid

GIVEN today’s economy, consumers all have financial concerns. While worrying doesn’t solve much, having a plan to manage these challenges can help ease some of the stress. Jed Velarde, an investing advocate of COL Financial, one of the country’s leading stockbrokers, shared five money traps to avoid and ways to spare consumers from serious financial […]

Budget monitor urges Congress to ensure GAA aligned with recovery, climate change goals

A NON-GOVERNMENT organization that monitors budget spending said Congress needs to review the government’s spending plans thoroughly to ensure they aid the economic recovery and help mitigate climate change, adding that legislators must not be rushed by the Palace’s certification of the 2023 budget bill as urgent. The proposed P5.268-trillion budget for next year must, […]

Japan warns of rising security threats in annual defense report

TOKYO — Japan warned on Friday of escalating national security threats, including repercussions from Russia’s war with Ukraine, Chinese intimidation of Taiwan, and vulnerable technology supply chains, in its annual defense white paper. The report sets out the government’s security concerns as it prepares the defense ministry budget request due next month, aiming to build […]

Christmas spending expected to top P37,000 per household

HOUSEHOLDS are expected to spend about P37,106 each to celebrate Christmas, according to a study conducted by a remittance company. The Philippines’ estimated Christmas spend is eighth-largest among 15 economies surveyed by WorldRemit. “Christmas celebrations begin as early as September and extend until January in the Philippines, making it challenging for many families to afford the […]

PHL consumer spending to pick up in 2022 – Fitch Solutions

The improving employment rate and consumer sentiment in the Philippines could back a projected 5.1% household spending growth next year, Fitch Solutions Country Risk and Industry Research said.  In a report released on Friday, Fitch Solutions said consumer spending could grow by a total of P11.1 trillion in 2022, accelerating from the estimated 3.5% growth […]

New prexy must build better infra

WHOEVER runs for presidency in the upcoming May 2022 elections must focus on building high-quality infrastructure, an economist said. “We have to build better,” said Ronilo Balbieran, vice president of think-tank Research, Education and Institutional Development Foundation in a recent virtual summit. Balbieran said it is not enough for the country to continue the Build, […]


When people talk about Philippine politics, the issue of political dynasties is — and will always be — at the forefront of discussions. Now that we are approaching an election year, the seemingly accepted “truth” that dynasties are bad for us becomes all the more salient, in the media, and among voters as well. Is […]

Infrastructure seen key to preserving momentum amid weak consumption

INFRASTRUCTURE SPENDING holds the potential to support an economic recovery via job creation, with the consumption component that the economy traditionally depends on remaining weak, Maybank Investment Bank Economist Zamros Dzulkifli said. “If the government could push for infrastructure spending this year, we can expect the share of expenditure to keep rising and support the […]

DBM sees on-time submission of P5-T 2022 nat’l budget proposal to Congress

THE DEPARTMENT of Budget and Management (DBM) expects to transmit to Congress the proposed P5.024-trillion National Expenditure Program for 2022 by the deadline of Aug. 23. In a Viber message Monday, DBM Officer-in-Charge and Undersecretary Tina Rose Marie L. Canda said President Rodrigo R. Duterte approved the proposed spending plan before Budget Secretary Wendel E. […]