Bangko Sentral ng Pilipinas (BSP) – Page 5

Improving foreign investment outlook for Philippines seen

September 12, 2024September 4, 2024carlocarrasco

As far as analysts are concerned, the foreign investment outlook for the Philippines is improving and should result in more investments, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

LOWER INTEREST RATES will help drive the entry of more foreign direct and portfolio investments into the Philippines, analysts said.

“The outlook for foreign direct investment (FDI) and foreign portfolio investment (FPI) in the Philippines appears promising, with current trends suggesting the country could meet or potentially exceed the Bangko Sentral ng Pilipinas’ (BSP) targets,” Security Bank Corp. Chief Economist Robert Dan J. Roces said in a Viber message.

The BSP expects to record FDI net inflows of $9.5 billion this year. For foreign portfolio investments, it forecasts $3.1 billion in net inflows by yearend.

“The BSP’s forecast for the year sounds reasonable, as it wouldn’t be too far a stretch, with that sort of level of annual FDI coming into the Philippines almost consistently over this period, barring the coronavirus-hit year in 2020,” Pantheon Macroeconomics Chief Emerging Asia Economist Miguel Chanco said in an e-mail.

In the January-to-May period, FDI net inflows jumped by 15.8% year on year to $4.024 billion, data from the BSP showed.

Meanwhile, short-term foreign investments yielded a net inflow of $1.46 billion in the January-July period, surging from the $157.3-million net inflows in the same period a year ago.

FDIs are considered long-term investments, while portfolio investments or “hot money” are seen as more fickle due to the ease by which these funds enter and leave the economy.

Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, Inc., said the BSP’s investment targets are doable amid easing interest rates.

“Offering attractive rates will be the key. All around will be declining key rates, thus, offering sensible investments now will lock in gains for prospective investors. I would like to believe that there is time,” he added.

Mr. Roces said the further reduction in policy rates this year and next year “should stimulate investment activity, particularly for FDI, by making borrowing more attractive.”

At its August meeting, the Monetary Board cut rates for the first time in nearly four years or since November 2020. It reduced borrowing costs by 25 basis points (bps), bringing the benchmark rate to 6.25% from the previous over 17-year high of 6.5%.

The central bank could also deliver another 25-bp rate hike in the fourth quarter, BSP Governor Eli M. Remolona, Jr. said earlier.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you agree with the findings of the economic analysts pointing to improving foreign investment outlook for the nation?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

More than P831 million deposited through BSP’s coin machines

August 6, 2024July 29, 2024carlocarrasco

More than P831 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of July 15, 2024, as published on their website.

Based on the latest statistics, a total of P831,774,151.23 (6.1% higher than the previous month’s count of P783,628,810.29) in coins got deposited into BSP machines on 202,110 transactions (5.4% higher than the previous month’s 191,804 transactions) from customers. In terms of physical quantity, 223,021,306 in coins were deposited. The previous count of deposited coins was 211,689,731.

Doing the math on the latest statistics, customers averaged P4,115.45 per transaction (versus the previous month’s P4,085.57 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.7296 per coin deposited (versus the previous month’s average of P3.7018 per coin deposited).

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

More than P783 million deposited through BSP’s coin machines

July 4, 2024June 26, 2024carlocarrasco

Over P783 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of June 23, 2024, as published on their website.

Based on the latest statistics, a total of P783,628,810.29 (10.7% higher than the previous month’s count of P707,661,554.41) in coins got deposited into BSP machines on 191,804 transactions (9.8% higher than the previous month’s 174,656 transactions) from customers. In terms of physical quantity, 211,689,731 in coins were deposited. The previous count of deposited coins was 193,901,254.

Doing the math on the latest statistics, customers averaged P4,085.57 per transaction (versus the previous month’s P4,051.74 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.7018 per coin deposited (versus the previous month’s average of P3.6496 per coin deposited).

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? How long did you have to wait in line before depositing your coins at the BSP machine?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

More than P700 million deposited through BSP’s coin machines

May 30, 2024May 21, 2024carlocarrasco

Over P700 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of May 15, 2024, as published on their website.

Based on the latest statistics, a total of P707,661,554.41 (over 9% higher than last the previous count of P648,904,160.19) in coins got deposited into BSP machines on 174,656 transactions (about 8% higher than the previous count 161,725 transactions) from customers. In terms of physical quantity, 193,901,254 in coins were deposited. The previous count of deposited coins was 179,641,987.

Doing the math on the latest statistics, customers averaged P4,051.74 per transaction (versus the previous month’s P4,012.39 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.6496 per coin deposited (versus the previous average of P3.6122 per coin deposited).

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Almost P650 million deposited through BSP’s coin machines

May 1, 2024April 22, 2024carlocarrasco

Almost P650 million million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of April 15, 2024, as published on their website.

Based on the latest statistics, a total of P648,904,160.19 in coins got deposited into BSP machines on 161,725 transactions from customers. In terms of physical quantity, 179,641,987 coins were deposited.

Doing the math on the latest statistics, customers averaged P4,012.39 per transaction (versus the previous month’s P3,914.27 per transaction) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.6122 per coin deposited (versus the previous month’s average of P3.55749 per coin deposited).

In my experience, depositing coins at the BSP coin deposit machine inside Festival Mall in Alabang got a bit more challenging to do. I noticed that the machine in the said mall has been breaking down or malfunctioning more compared to previous times.

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? How long did you wait in line before you got your turn to deposit coins at the BSP coin deposit machine? Whenever you successfully deposited your coins, is GCash your main choice of e-wallet?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Philippine exports of goods and services surpassed $100 billion in 2023

April 11, 2024April 2, 2024carlocarrasco

For the year 2023, Philippine exports of good and services reached over $100 billion based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), according to a Philippine News Agency (PNA). By comparison, less than $100 billion was achieved in 2022.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade.

The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), exports of goods and services reached USD103.6 billion. This is higher by 4.8 percent from the total exports of USD98.8 billion in 2022.

DTI Secretary Alfredo Pascual said this is the first time the Philippines breached the USD100-billion mark in export revenues.

Pascual said the strong exports last year was driven by services, especially the information technology and business process management (ITBPM) and tourism services.

Services exports rose 17.4 percent in 2023 to USD48.29 billion from USD41.12 billion in 2022.

According to the Information Technology and Business Process Association of the Philippines, ITBPM revenues last year stood at USD35.5 billion, while government data showed that travel services reached USD9.1 billion last year.

On the other hand, exports of goods last year declined by 4.1 percent to USD55.32 billion from USD57.71 billion in 2022.

The country’s top goods export alone, electronics, decreased by 3.4 percent or USD955 million in 2023 compared to its previous year.

“This decline highlights the importance of diversifying export portfolios and enhancing competitiveness in key sectors,” the DTI said.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations. Our guideline is the Philippine Export Development Plan (PEDP) 2023-2028, which aims to address constraints to production, diversify and improve access to markets, and develop a strong and innovative export ecosystem,” Pascual said.

However, export revenues last year were USD23.2 billion away from the PEDP target of USD126.8 billion for 2023.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” the DTI chief added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines can achieve at least $100 billion worth of export revenue this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Over P577 million deposited through BSP coin machines

April 1, 2024March 26, 2024carlocarrasco

More than P577 million worth of coins have been deposited through the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) as of March 15, 2024, as published on their website.

Based on the latest statistics, a total of P577,421,900.87 in coins got deposited into BSP machines on 147,517 transactions from customers. In terms of physical quantity, 162,311,398 coins were deposited. All these numbers are accurate as of March 15, 2024.

Doing the math on the latest statistics, customers averaged P3,914.27 per transaction (depositing of coins) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.55749 per coin deposited.

As with recent times, in my experience, it is getting more challenging for me to deposit loose change at the BSP coin deposit machine inside Festival Mall in Alabang not just because more people lined up but also because more people are individually carrying jars or bags full of coins to deposit. The more coins a customer tries to deposit during his or her turn at the machine, the wait can be a few to several minutes long. I also noticed that more motorcycle delivery operators have joined the line inside Festival Mall supposedly to do the deposits for their clients.

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality recently? Do you think the BSP should put up more coin deposit machines to keep up with the growing consumer demand? How long normally is the line at the BSP coin deposit machine in your locality each time you visit?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Sun Life Investment Management and Trust Corporation (SLIMTC) anticipates strong Philippine economic growth for 2024

March 4, 2024February 23, 2024carlocarrasco

As far as Sun Life Investment Management and Trust Corporation (SLIMTC) is concerned, the Philippine economy can achieve strong growth this year with favorable economic factors supporting it, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news report. Some parts in boldface…

The government’s 6.5 to 7.5 percent economic growth target for this year is attainable as the projected decline in interest rates will help boost consumption and investments, a top official of Sun Life Investment Management and Trust Corporation (SLIMTC) said on Thursday.

“It seems like it’s something that’s still attainable. Let’s see when rate cuts are there and especially when those infrastructure projects are in,” said SLIMTC Chief Investment Officer Ritchie Teo in a briefing at the Milestone Building in Bonifacio Global City in Taguig City.

According to Teo, the Bangko Sentral ng Pilipinas (BSP) is projected to cut rates by a total of 100 basis points this year as inflation continues to ease.

Headline inflation, which reached 6 percent in 2023, is projected to settle at 3.8 percent this year.

Teo said the BSP will likely wait for the US Federal Reserve to slash interest rates thus, the first rate cut is forecast to happen around June or the early part of the second half of the year.

“Probably good to say they will only cut when Fed cuts. They will wait for Fed so probably that’s on the latter part. Not in April, maybe in June or early second half,” said Teo.

SLIMTC expects the US Federal Reserve to cut policy rates by 75 to 100 basis points by mid-year as US inflation returns to target.

“They [BSP] will leave some [easing] on the latter part of the year mainly because of risks like the November election. So it’s good to have something on the table,” he added.

Teo said the lower interest rates will boost consumption and private investments, which in turn will help accelerate the country’s economic growth.

“Based on the latest gross domestic product (GDP) forecast, we anticipate 6% growth for 2024, largely driven by higher consumption and private investments,” he said.

Government spending especially on infrastructure projects is also expected to be one of the major growth drivers for this year.

“If you look into the investment side, maybe more on the government, given that they’ve been trailing but for the private investments, especially with the rate cuts, again their spending will improve because with the higher interest rates, some are really holding back,” said Teo.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think easing inflation, lower interest rates and strong consumption will be enough to help the Philippine economy grow by at least 6% this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

BSP sees inflation landing below 4% this year

February 2, 2024January 24, 2024carlocarrasco

The way the Bangko Sentral ng Pilipinas (BSP) sees it, the inflation rate of the Philippines will end up at less than 4% this year although there could be external developments that might alter things, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Bangko Sentral ng Pilipinas (BSP) expects the inflation rate to fall below four percent this year due to base effects, and is eyeing a lower January 2024 consumer price index (CPI) versus December’s actual 3.9 percent.

BSP Governor Eli M. Remolona Jr. said the base effects will push inflation rates lower for the months of January and February, and for the first quarter on average. They also expect CPI to climb back up after the first three months.

When asked if he sees a below four percent inflation by end-2024, the BSP chief said it is “very likely if you look on a month-on-month basis, it will moderate,” he said in a mix of Filipino and English. “So you have to adjust on base effects,” he added.

The central bank will revise the current 4.2 percent risk-adjusted inflation forecast for 2024 on Feb. 15 to below four percent, said Remolona. “(It’s) very likely,” he said, citing again, the base effects.

The Monetary Board’s first policy meeting this year is scheduled on Feb. 15. The hawkish BSP has kept a tight policy stance of 6.5 percent since October last year.

Meanwhile, the BSP will announce its month-ahead CPI forecast for January on Tuesday, Jan. 30.

According to Remolona, “I think it will be lower (from 3.9% December) because of base effects.”

BSP Deputy Governor Francisco G. Dakila Jr. said upside risks to inflation continue to evolve, and they now include the Red Sea crisis as another factor to their risk-adjusted inflation forecast. The Red Sea conflict centers on the Houthi rebel attacks which disrupted the trade routes in the Suez Canal. This affects the Philippines because oil imports bound for the country passes through the Suez Canal.

The changing labor conditions in the country is another upside risks that could be more of a risk than expected, according to Dakila.

The slowing growth in the global economy, and this already includes China, is a previously cited downside risk to inflation. The El Nino weather phenomenon – originally estimated to last only until March this year, is now expected to extend until the second quarter 2024.

The biggest upside risks to the inflation outlook is the spillovers such as second-round effects. This is electricity rates, transport fare hikes and wage increases.

As for the economy, Remolona said he has more confidence now that the economy will perform better this year.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think inflation here in the Philippines will land below 4%? Do you think that developments overseas could cause a spike in inflation in our country in the months ahead?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Almost P400 million deposited through BSP coin deposit machines

January 29, 2024January 30, 2024carlocarrasco

Recently the Bangko Sentral ng Pilipinas (BSP) posted an update on their official page about their coin deposit machine (CoDM) project revealing that almost P400 million worth of coins got deposited by customers as of January 15, 2024.

Based on the latest statistics, a total of P399,081,734.54 in coins got deposited into BSP machines on 110,910 transactions from customers. In terms of physical quantity, 117,120,209 coins were deposited. All these numbers are accurate as of January 15, 2024.

Doing the math on the latest statistics, customers averaged P3,598.25 per transaction (depositing of coins) at the machines. As for the grand total Peso amount divided by the number of coins deposited, the average is P3.40745 per coin deposited.

In my personal experience, it’s gotten more challenging to deposit my coins into the BSP machine located inside Festival Mall in Filinvest City, Alabang. Locally, a lot more people became aware of the machine which resulted in longer lines as well as families or business managers/owners bringing huge volumes of their coins contained in bottles or bags. There were also times when the BSP machine inside the mall got filled to its limit during the day and it could not function until the BSP’s own collectors gather all the coins.

Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your excess coins into a BSP coin deposit machine in your locality in recent times? Do you think the BSP should put up more coin deposit machines to keep up with consumer demand? How long normally is the line at the BSP coin deposit machine in your locality each time you visit?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

	Ninjak: This Day In… on A Look Back at Bloodshot #7…
	Murmel on Temporary Reduced Fees And Sup…
	#blogpost on Temporary Reduced Fees And Sup…
	Travel Channel on Temporary Reduced Fees And Sup…
	Business Channel on Temporary Reduced Fees And Sup…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: