business news – Author Carlo Carrasco

November 2025 Philippines Inflation Lands At 1.5%

December 16, 2025December 8, 2025carlocarrasco

The inflation rate of the Philippines eased further this past November landing at 1.5%, according to a business news report by GMA News.

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

The country’s inflation rate slowed down in November 2025 on the back of slower increase in food costs during the period, the Philippine Statistics Authority (PSA) reported on Friday.

At a press conference, PSA Deputy National Statistician Divina Gracia del Prado said the overall inflation —which measures the rate of increase in the prices of goods and services— clocked in at 1.5%. This was slower than the 1.7% rate seen in October 2025.

November’s inflation rate brought the year-to-date national average to 1.6%, well within the government’s comfortable ceiling of 2% to 4%.

“Ang pangunahing dahilan ng mas mababang antas ng inflation nitong Nobyembre 2025 kaysa noong Oktubre 2025 ay ang mas mabagal na pagtaas ng presyo ng Food and Non-Alcoholic Beverages na may 0.1% inflation rate,” del Prado said.

(The main reason for the lower inflation rate in November 2025 versus October 2025 was the slower increase in the prices of Food and Non-Alcoholic Beverages with an inflation rate of 0.1%.)

The inflation rate for the heavily weighted index clocked in at 0.5% in October 2025.

The Food and Non-Alcoholic Beverages index contributed 85.3% to the country’s overall inflation print.

Meanwhile, food inflation —which tracks the price movements of food items in a “basket” commonly purchased by households— registered a negative rate of 0.3% from 0.2% in the prior month due to slower increase in vegetable prices at 4% from 16.4% month-on-month as well as the slowdown in the growth of meat prices at 4.2% from 5.2%.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you think the nation’s inflation could slow down even more to as low as 1% by the end of December?

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

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World Bank Sees Philippine Economy Gradually Recovering In 2026 And 2027

December 11, 2025December 10, 2025carlocarrasco

The World Bank (WB) sees the economy of the Philippines making a gradual recovery in 2026 and 2027 fueled by strong domestic demand, according to a news report by BusinessWorld. The WB also stressed that corruption is unacceptable.

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

THE WORLD BANK (WB) sees a gradual recovery for the Philippines in 2026 and 2027, after growth slowed this year due to weaker investment and sluggish consumption, compounded by a corruption scandal and a string of natural disasters.

In its latest Philippines Economic Update released on Tuesday, the multilateral lender trimmed its Philippine gross domestic product (GDP) growth forecast to 5.1% for this year from 5.3% in its June report. For 2026, it lowered its Philippine GDP growth forecast to 5.3% from 5.4% previously.

The World Bank also cut its Philippine GDP growth projection for 2027 to 5.4% from 5.5% previously.

These latest projections are below the government’s 5.5-6.5% growth goal for this year and the 6-7% target for 2026 to 2028.

“To borrow from Torsten Slok, chief economist at Apollo (Management), it’s a Nike swoosh pattern. He describes the US economy, and I’m describing our forecast for the Philippines as a kind of Nike swoosh. We have a dip in 2025, and then we have a gradual recovery in 2026 to 2027,” World Bank Senior Economist Jaffar Al-Rikabi said during a briefing.

He noted the average growth of the Philippines over 2025 to 2027 will be lower than 2024 when GDP expanded by 5.7%.

“For 2025… the growth is largely weighed down by domestic factors. In particular, lower construction activity and weaker consumption growth,” he said.

The Philippine economy expanded by a weaker-than-expected 4% in the third quarter, bringing nine-month growth to 5%, as the pace of household final consumption expenditure and government spending slowed amid a corruption scandal.

Mr. Al-Rikabi also noted the deceleration in fixed investment and private consumption due to higher-than-expected number of natural disasters that hit the Philippines this year.

“But for 2026 to 2027, we think that it’s likely that external factors will weigh more heavily on growth, largely slower export demand,” Mr. Al-Rikabi said.

The US imposed a 19% tariff on most goods from the Philippines starting August, dampening export demand.

The World Bank said the Philippine economy’s growth will pick up in 2026 and 2027, fueled by strong domestic demand.

“Private consumption is projected to strengthen as inflation stays low, employment remains robust, and monetary easing lowers interest rates, making it easier for businesses and households to borrow,” it said in the report.

According to the World Bank, private consumption, which accounts for more than 70% of the economy, is projected to expand by 4.8% this year, slowing from 4.9% in 2024. This is expected to pick up to 5.3% in 2026 and 5.4% in 2027.

The World Bank said investment is likely to recover as public infrastructure projects regain momentum, while recent liberalization reforms in telecommunications, transport, logistics and renewable energy improve the business climate.

The multilateral lender also expects headline inflation to average 1.8% this year, describing the pace as “very moderate” and a key source of resilience. This forecast is slightly above the Bangko Sentral ng Pilipinas’ (BSP) 1.7% projection for 2025 and the 1.6% average recorded in the first 11 months.

‘CORRUPTION IS UNACCEPTABLE’ – Even as the Philippine economy will see a gradual recovery in the next two years, Mr. Al-Rikabi noted risks are tilted to the downside, with “more prominent” domestic drivers.

“There is a continued challenge of heightened perceptions around governance risks. This could, if it continues, erode investor confidence. It could delay public investment execution, and it could weaken growth,” he said.

The World Bank economist also noted there may be delays in fiscal and structural reforms amid the current domestic environment, “which could slow consolidation and weigh on growth over the medium term.”

A corruption scandal involving anomalous flood control projects has already triggered protests, slowed economic activity, and shaken investor confidence in the country.

“From the World Bank perspective, corruption is unacceptable,” World Bank Country Director for the Philippines, Malaysia, and Brunei Zafer Mustafaoğlu said during the same briefing.

“The World Bank considers it detrimental to any country and has been fighting against corruption in all the member countries that we operate in,” he added.

Mr. Mustafaoğlu said the Philippine government could take this opportunity to increase transparency and modernize its budget execution system “that could actually support longer-term growth and can increase investment confidence (and) can increase long-term potential growth,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you think the national economy will recover gradually in 2026 and 2027 as the World Bank predicted? With inflation being low, do you feel confident about spending for your needs and wants in the short term?

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

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Philippines To Tackle Plastic Pollution With Nuclear Technology

December 7, 2025November 29, 2025carlocarrasco

During his recent address at a high-profile forum in Pasay City, Philippine President Ferdinand “Bongbong” Marcos, Jr., stated that the nation will use nuclear technology to deal with plastic pollution and it will involve foreign partners, according to a news article published by Nuclear Engineering International.

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

Philippines President Ferdinand Marcos Jr has said the Philippines is committed to partnering with international organisations to tackle plastic pollution using nuclear technology. He was addressing the International Atomic Energy Agency (IAEA) International High-Level Forum on the Nuclear Technology for Controlling Plastic Pollution (NUTEC Plastics) in Pasay City.

“It affects biodiversity, public health, supply chains, and the lives of our coastal and urban communities. Addressing it requires going beyond regulation and advocacy. It requires technology that is credible, scalable, grounded in rigorous science,” he said.

“And that is why the Philippines is proud to champion the NUTEC Plastics Initiative of the IAEA. NUTEC Plastics embodies the kind of innovation that we need – solutions that merge advanced nuclear applications with environmental protection, to translate scientific progress into tangible benefits for industry and for society.”

Marcos said the Philippine Nuclear Research Institute of the Department of Science & Technology, together with the Industrial Technology Development Institute and industry partner Envirotech, had developed a new process that transforms low-value plastic wastes into durable, commercially viable materials under the Post-Radiation Reactive Extrusion of Plastic Wastes Project (PREx).

“The PREx Prototype House stands today as a tangible output of this initiative. But beyond a demonstration of breakthrough nuclear technology, it is a prototype of the future circular economy,” he added. Radiation technology enhances polymer properties, reduces material degradation, and creates new industrial uses for plastics, Marcos said.

He also referred to the marine microplastics monitoring laboratory established with the IAEA at the University of the Philippines Marine Science Institute. The laboratory equips Filipino researchers with the tools to quantify microplastics pollution with scientific precision. “Data generated here informs global models, strengthens policy interventions, and helps us track the real-time impact of plastics on marine ecosystems,” he added.

He said the Philippines was committed to building networks with regulators, scientists, investors and community stakeholders, as the Republic Act 12305 (Philippine Nuclear Law) signed in September.

This establishes a comprehensive regulatory framework covering nuclear safety, security, safeguards and the peaceful applications of nuclear technology.

“Our engagement with the IAEA and our support for science-based responses to plastic pollution reflect that same conviction: that durable progress comes not from acting alone, but from strengthening the international system that makes such cooperation possible,” Marcos said.

IAEA launched the NUTEC Plastics initiative in 2021 to help countries use nuclear science to monitor and reduce plastic pollution. The programme now supports more than 100 member states, including the Philippines, in tracking microplastics in coastal areas, identifying different types of plastics, and applying reliable, cost-effective laboratory methods based on harmonised global protocols. It also trains scientists and promotes radiation technologies that turn low-value plastic waste into useful materials.

The role of nuclear science and technology in helping countries tackle the global challenge of plastic pollution is the focus of a major IAEA event that opened on Tuesday in Manila. The International High Level Forum on NUTEC Plastics will showcase concrete results achieved by this flagship initiative launched by the IAEA in 2020.

Addressing the NUTEC Plastics Forum, IAEA Director General Rafael Mariano Grossi said: “Looking at plastic pollution from the atomic level allows us to understand microplastic pollution and its movements through marine ecosystems, which supports well-informed policy decisions to deal with it. And by using irradiation we can reduce the amount of plastic waste by turning it into valuable products like building materials.”

Masato Kanda, President of the Asian Development Bank (ADB) told the forum’s opening session that, in the Philippines, ADB is planning a $1bn programme to develop a sustainable and resilient blue economy. “Complementing this, we are harnessing digital solutions to simulate the flow of plastic pollution in the Pasig River to help rejuvenate this important waterway. We are also deepening our collaboration with the IAEA across the board: from food security to energy transition.”

NUTEC Plastics presently works with 53 countries to improve plastic recycling and develop bio-based plastics, and with 102 countries to monitor marine microplastic pollution. Every day, the equivalent of 2000 garbage trucks full of plastic are dumped into the world’s oceans, rivers and lakes. Every year, 19-23m tonnes of plastic waste leaks into waterways, disrupting habitats and livelihoods. Since plastic is not biodegradable, it breaks down into ever smaller fragments, which eventually degrade into microplastics. Microplastics can easily infiltrate into ecosystems and the food chain through water, air and soil.

Radiation can transform plastic waste into durable, high value materials and products. It can also create biodegradable bio-based plastics as an alternative to conventional petroleum-based plastics. To date, eight countries have NUTEC upcycling projects underway in cooperation with commercial partners. Argentina, Indonesia, Malaysia and the Philippines are at the forefront in demonstrating the feasibility of using irradiation to recycle plastic waste to produce construction materials, industrial additives, railway ties and other durable products. These countries have already tested prototype processes and are moving toward pilot-scale industrial production.

Let me end this post by asking you readers: What is your reaction to this recent development? By having many foreign partners, are you convinced the Philippines will be able to end its plastic pollution crisis using nuclear technology and other related solutions?

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

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IAEA Director General Says Philippines Is At The Right Moment For Push To Nuclear Energy

December 3, 2025November 26, 2025carlocarrasco

Recently the Director General of the International Atomic Energy Agency (IAEA) visited the Philippines, met with President Ferdinand “Bongbong” Marcos, Jr., and revealed to the press that the nation is at the right moment to start the push for nuclear energy, according to a Manila Bulletin news report.

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

The Philippines is at the “right moment” to begin pushing for nuclear energy use amid its aim to achieve energy security and reduce its reliance on fossil fuels like coal, the International Atomic Energy Agency (IAEA) said.

IAEA Director General Rafael Mariano Grossi made this remark during the International High Level Forum on Nuclear Technology (NUTEC) Plastics in Pasay City on Tuesday, Nov. 25.

He underscored that the Philippines is not new to nuclear power.

“Let’s go a little bit back in history. Your country was a pioneer long, long, long before any other countries in this region and in the world were looking at nuclear energy. But the reality is that I like to say that the Philippines is not a newcomer, it’s a revisiting country,” he said in a press conference.

“It’s a country that is reviewing, taking into account its technological capacities, what was being done here in the late 70s, early 80s, and considering that it is perhaps the right moment, as many other countries in the world, to avail itself of a notion of a clean energy that is providing solutions in many parts of the world. Why not here?,” he added.

The Philippines, during the time of former president Ferdinand Marcos Sr., once attempted to build a nuclear power plant in Bataan. While it was completed, it was never operated because of safety concerns, political issues, and corruption allegations.

Grossi said that what the Philippines is doing today with its nuclear energy push is “extremely important,” adding that small- or big-sized nuclear projects are significant and require initial capital investment.

He also noted that banks and international financial institutions in the past have turned their backs on nuclear power plants because of their “bad image.”

“But with passage of time and the safety record of nuclear and the ability to demonstrate by the industry that banks are a conservative, of course, in what they finance, there has been an important change which was initiated earlier this year when I signed with the president of the World Bank a similar agreement,” he shared.

“So, when the World Bank sent this, you know how it happens in the economy in general, when they sign from the leading institutions, the leading financing institutions in the world that there is no problem, basically, there is really no problem, no technical problem, no fundamental problem in financing nuclear,” he added.

The IAEA director pointed out that with China, India, and Pakistan, Asia “and in particular this region, is the most dynamic in terms of nuclear growth in the world.”

Malaysia, Vietnam, Singapore, and Indonesia, he cited, are also starting their own nuclear programs, as well as African countries that need grants and loans for their own nuclear push.

“People talk about the exponential growth of renewable energy, which is a very good thing, I must say. I am very positive about renewable energies,” Grossi asserted, lamenting the lack of subsidies and access to finance in the past.

“So, I believe that we are entering now a new phase. We will see how far it goes, we will see how fast it goes, but it is clearly, in my opinion, a watershed that has happened. Very important. So, it’s a very good day in that sense,” he added.

The IAEA official also met with President Marcos on Tuesday during a courtesy call at Malacañan Palace.

Grossi, who assumed office in 2019, is on his first official visit to the Philippines for the International High-Level Forum on Nuclear Technology for Controlling Plastic Pollution (NUTEC Plastics): Scaling Solutions and Partnerships for Global Impact.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the Philippines is ready to move forward by using nuclear power for the nation’s energy requirements?

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

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US Mounts Offensive To Smash China’s Fruit Market Dominance In The Philippines

December 2, 2025December 1, 2025carlocarrasco

Were you able to spot and buy fruits imported from America at the local markets here in the Philippines over the past month? The United States will soon introduce new varieties of fruit to the Philippines in what is seen as a serious effort to break China’s dominance, according to a news report by the Manila Bulletin.

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

The United States (US) aims to introduce new fruit varieties to the Philippines to boost its share of the import market, which has long been dominated by China.

In a market brief published last week by the US Department of Agriculture (USDA), American exporters were urged to introduce innovative fruit varieties to the country to sustain the momentum in apple exports.

The USDA expects exports of fresh fruits to fall by at least seven percent to around $13 million this year from $14 million in 2024.

Despite this, the foreign agency said shipments of apples to the country will grow this year, driven by the popularity of the Ambrosia, Cosmic Crisp, and SugarBee varieties. These varieties were introduced to the Philippine market last year and have since gained traction among consumers.

“Consumers are eager to try new-to-market fruit varieties and share their experiences on social media,” the report read.

The USDA noted that only bananas and papayas are harvested year-round in the country, creating an opportunity for American exporters to fill market gaps year-round.

“The United States is widely recognized for consistently supplying premium-quality fruit, and US exporters are encouraged to leverage this reputation,” it said.

The USDA, citing Philippine government data, expects fresh fruit imports this year to grow by 25 percent to around $400 million, up from $321 million in 2024.

Last year, the US only accounted for a three percent share in the import market. Its main shipments were apples, cherries, grapes, oranges, strawberries, cranberries, blueberries, and peaches.

In contrast, China seized 72 percent of the market last year, with its main exports being apples, grapes, mandarins, oranges, and other citrus hybrids.

Also outperforming the US were South Africa and Australia with market shares of nine percent and eight percent, respectively.

With the exception of South Africa, the USDA noted that the dominance of regional suppliers is a result of better prices, largely driven by lower shipping costs and zero-tariff advantages under free trade agreements with the Association of Southeast Asian Nations (ASEAN).

“The Philippines does not have a preferential trade agreement with the United States or South Africa. As a result, MFN (most-favored-nation) tariff rates apply to fresh fruit imports from both countries,” the report read.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you buy any fruits in the local market that were imported from the United States of America? Does the name or image of US President Donald Trump influence your decisions on buying American fruits locally? Apart from prices, how would you compare American fruits with the ones from China in terms of taste, texture and satisfaction?

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

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Preventive Maintenance And Other Improvements On SCTEX

December 1, 2025November 24, 2025carlocarrasco

The Subic–Clark–Tarlac Expressway (SCTEX) undergoing improvements by means of maintenance works and asset enhancements by the NLEX Corporation, according to a Malaya Business Insight news report. This means better travel and improved safety for the many motorists who use the SCTEX.

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

NLEX Corp., the concessionaire of the 94-kilometer Subic–Clark–Tarlac Expressway (SCTEX), recently rolled out a series of asset enhancement and preventive maintenance works to reinforce road safety, and help in providing an improved driving experience for motorists.

“We’re focused on delivering improvements that our motorists can truly feel on the road,” NLEX president and general manager Luis Reñon declared in a statement on November 20.

Approximately 3,700 square meters were reportedly completed from Dinalupihan to Tarlac, focusing on uneven surfaces and minimizing potential driving hazards.

The company also installed 22 additional sets of rumble strips at key locations along SCTEX. These strips produce mild vibrations and audible cuesfor drivers, promoting more attentive and safer driving behavior. A total of 26 rumble strips are now laid out across the expressway.

Median, or center guardrails, from Dolores to Luisita have been being raised by 30cm for the asphalt overlay. This adjustment maintains safety standards, and helps preserve roadway integrity.

Let me end this post by asking you readers: What is your reaction to this recent development? When was the last time you drove along the SCTEX?

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

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Investors’ Interest In Nuclear Energy In The Philippines Remains Strong

November 30, 2025November 24, 2025carlocarrasco

The future of a nuclear-powered Philippines remains achievable as the Department of Energy (DOE) confirmed that investors are strongly interested in nuclear energy in the country, according to a BusinessWorld news report.

For the newcomers reading this, more Filipinos expressed through a survey their preference for nuclear power for electricity, PhilATOM was signed into law by President Ferdinand “Bongbong” Marcos, and Meralco is preparing its bid for a nuclear power license.

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

INVESTORS are still keen on developing nuclear energy projects in the Philippines, the Department of Energy (DoE) said, as the government prepares to start accepting applications next year.

Energy Secretary Sharon S. Garin said there is significant investor interest in nuclear energy projects in the Philippines, as some companies have already presented their ideas.

Speaking to reporters on Friday, Ms. Garin said companies want to go into nuclear energy as they see it as a possible solution to serve baseload capacity and to cater to the increasing demand from data centers.

“They’re very interested and are waiting for us to finalize the site selection and site evaluation,” she said in mixed Filipino and English.

The DoE plans to begin accepting applications for nuclear energy projects by 2026 as part of efforts to integrate nuclear power into the country’s energy mix by 2032.

Under the Philippine Energy Plan, the country aims to integrate nuclear energy into the power mix with at least 1,200 megawatts (MW) of capacity by 2032, increasing it to 2,400 MW by 2045 and to 4,800 MW by 2050.

“I understand, the companies are waiting for us to guide them on which are the areas that are more feasible. But some companies have already approached DoE to enter into a memorandum of agreement, non-exclusive, to explore the possible nuclear power plant development,” Ms. Garin said.

She said some energy firms have expressed interest in nuclear energy development such as power distributor Manila Electric Co. (Meralco) and power generation firm Aboitiz Power Corp.

In a separate interview, Meralco Executive Vice-President Chief Operating Officer Ronnie L. Aperocho said that the company waiting to see the ongoing development of Romania’s first small modular reactor before proceeding on its own.

“There is a requirement from PhilATOM (Philippine Atomic Energy Regulatory Authority) that the first-of-its-kind technology must run of at least about two years without any incidents before we can adopt it here in the Philippines. So, we have to go through that two-year requirement,” he said in mixed Filipino and English.

In September, President Ferdinand R. Marcos, Jr. signed Republic Act No. 12305, the Philippine National Nuclear Energy Safety Act, which created PhilATOM.

PhilATOM is an independent quasi-judicial body tasked with overseeing all nuclear and radiation activities in the country. Under the law, PhilATOM will hold sole and exclusive jurisdiction over the regulation of nuclear energy and radiation sources in the Philippines, ensuring their peaceful, safe and secure use.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think nuclear power in the Philippines will become a reality over the next several years?

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

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President Marcos Calls On HSBC To Help investors See Economic Opportunities In The Philippines

November 27, 2025November 19, 2025carlocarrasco

As the signs are clear that economic growth of the Philippines has weakened, President Marcos called on financial giant HSBC to help foreign investors realize the economic opportunities in the country, according to a Philippine News Agency (PNA) news article.

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

President Ferdinand R. Marcos Jr. has called on international bank HSBC to help more foreign investors see the huge economic opportunities the Philippines has to offer.

“Together let’s build a more progressive Philippine economy, where people can access reliable financial services, obtain meaningful opportunities, and live more dignified, comfortable lives,” he said in a speech at HSBC’s 150th year anniversary gala in Taguig City on Tuesday night.

“Let us continue creating an environment where investors, stakeholders, and most importantly, our citizens see the Philippines as a nation of promise,” he added.

He acknowledged the foreign bank’s support for government initiatives, including its participation in recent bond issuances such as the SEC-registered USD3.3 billion-equivalent dual currency global bond that aims to ensure the continuation of vital government programs.

“These programs, whether on infrastructure, education, or social protection, directly benefit our people, especially those who rely on stable public services,” he said.

He also cited HSBC’s strong collaboration with relevant economic agencies and its contribution to increasing the country’s exposure to foreign investors.

From its first branch in Binondo in 1875, Marcos said HSBC’s growing presence in the Philippines serves as a vote of confidence in the future of the Philippines.

On the part of the government, he said the administration continues to strengthen its financial systems to protect depositors.

The Bangko Sentral ng Pilipinas, he added, is refining capital, liquidity, and governance standards to ensure that banks are resilient.

The country, he said, also adopts reforms such as the Basel III New Standardized Approach, the National Risk Assessment, and clearer guidelines for the disqualification of erring officers.

“Today, as HSBC adapts to a rapidly changing economy, we are confident that the bank will remain true to its commitment to making its services more inclusive, more secure, and accessible to Filipinos,” the chief executive said.

HSBC, the leading international bank in the country, serves 41 million clients across 57 markets, with over USD3 trillion in assets.

In his remarks, HSBC Interim Group Chairman Brendan Nelson said the firm has “strong” confidence in the Philippines and is ready to work with the country to sustain its growth momentum.

He said HSBC is “determined to continue growing” in the Philippines as he noted its strategic position in Southeast Asia, one of the regions, he noted, is set to benefit most from the “configured globalized world.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think economic growth of the Philippines will get stronger in 2026? Do you think foreign investors will take a new look at the Philippines for economic opportunities soon?

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

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Philippines At Risk Of Falling Behind Southeast Asian Neighbors Economically

November 26, 2025November 19, 2025carlocarrasco

The 3^rd quarter growth of only 4% the Philippines achieved has been on people’s minds a lot lately. As such, the country is at risk of falling behind its neighbors in Southeast Asia in terms of economic growth and gross domestic product (GDP) per capita, according to a BusinessWorld news report.

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

The Philippine economy is at risk of further falling behind its Southeast Asian neighbors, an economist said, noting it may take two years to catch up with Vietnam and up to 70 years to catch up with Singapore.

“(T)he Philippines could find itself lagging behind if alleged public spending issues continue to divert attention and resources away from the structural reforms needed to accelerate economic development,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a commentary on Wednesday.

In the third quarter, Philippine gross domestic product (GDP) grew by 4%, its slowest pace in over four years amid slower household and public infrastructure spending as the flood control scandal dampened investor and con-sumer sentiment.

In the nine months to September, GDP growth averaged 5%, putting the government’s 5.5%-6.5% full-year growth target further out of reach.

“The Philippine economy is growing, but not enough to close the economic gap with other countries,” Mr. Neri said.

He noted the Philippine GDP per capita is lower compared with other economies in the region. Citing International Monetary Fund (IMF) data, he said the Philippines’ GDP per capita stood at $4,078 in 2024.

“At the current growth rate, it would take the Philippines two years to catch up with the GDP per capita of Vietnam, 4 years with Indonesia, 14 years with Thailand, 26 years with Malaysia, and 70 years with Singapore, assuming their incomes remain stagnant. In reality, their GDP per capita continues to grow, which means the gap could persist or even widen,” Mr. Neri said.

The Philippines lagged behind Singapore which had a GDP per capita of $90,674 in 2024, followed by South Korea ($36,128), Japan ($32,498), China ($13,312), Malaysia ($12,540), Thailand ($7,491), Indonesia ($4,958) and Vietnam ($4,535).

“Before the pandemic, the Philippines had a higher GDP per capita than Vietnam, but has since been overtaken. At current trends, it would take the Philippines two years to catch up with Vietnam, but that gap could increase to 13 years by 2044,” Mr. Neri said.

The BPI economist said the Philippines needs structural reforms to accelerate growth in order to close the widening gap with its neighbors.

“The current economic model of the country is not enough, as shown by the country’s inability to grow faster than 6% in recent years,” he said.

Mr. Neri said the economy has been “too reliant” on consumer spending, driven by overseas Filipino worker (OFW) remittances and the business process outsourcing industry.

“There is a need to diversify its sources of growth. The economy must improve in terms of production, especially in agriculture and manufacturing, as they will allow the economy to be more self-sufficient and to reach foreign markets. These industries have been critical to Vietnam’s success and could play a similar role for the Philippines,” he said.

However, Mr. Neri said implementing these reforms will be hard if the government lacks focus.

“Public spending issues divert fiscal resources and policymaking focus away from long-term development priorities. Efforts to strengthen safeguards against potential issues in government spending are essential, enabling the country to work on structural reforms that could improve the economy,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think should the government do to accelerate economic growth?

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

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Business Groups Reaffirm Commitment To National Economy

November 25, 2025November 18, 2025carlocarrasco

With the weakening economic growth and growing socio-economic uncertainty affecting the entire Philippines, prominent business groups reaffirmed their commitment to invest and create jobs in the country, according to a Manila Bulletin news report.

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

Six prominent groups representing the business sector reaffirmed their commitment to invest and create jobs in the Philippines amid weakening sentiment in the economy, which is fueled by what they described as a “political turmoil” stemming from the ongoing corruption scandal.

In a rare joint statement sent to the media moments after a pivotal reshuffle in the administration’s economic team, the business groups emphasized that they remain committed to supporting the Philippine economy.

“While the current political turmoil raises understandable concerns, we stress that the country’s long-term fundamentals remain strong; anchored by a well-regulated financial system, a stable banking sector, and companies that continue to invest in and believe in the Philippines,” the groups said on Monday, Nov. 17.

The statement was signed by Makati Business Club (MBC), Management Association of the Philippines (MAP), Philippine Chamber of Commerce and Industry (PCCI), Financial Executives Institute of the Philippines (FINEX), Philippine Finance Association, and Institute of Corporate Directors (ICD).

In a statement that essentially serves as a pitch to potential investors, the six business groups said that the institutions safeguarding local markets “continue to operate independently and rigorously.”

The groups cited the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) as among the most reliable government partners when it comes to businesses.

Both the BSP and the SEC uphold regulatory frameworks aligned with global standards, ultimately ensuring market integrity, prudent risk management, and strong investor protection, they said.

“The Philippines continues to meet international benchmarks on capital adequacy, disclosure requirements, and corporate governance,” the groups said.

The business groups also took note of the corporate earnings of publicly listed companies, which reflect the economy’s underlying strength.

They noted that even during periods of global instability, such as the Covid-19 pandemic, companies continued to demonstrate resilience with growing revenues and stable margins.

Further, the groups said that investment sentiment in the country remains robust, with gross fixed capital formation ranging between 22 percent and 27 percent of gross domestic product (GDP) over the last 10 years.

“This ongoing level of capital spending, mainly driven by business growth, clearly indicates that Philippine companies continue to build capacity, expand operations, and invest in the country’s long-term prospects,” the statement read.

While upholding optimism, the six business groups stressed that investor confidence is influenced not only by economic fundamentals but also by governance.

Let me end this post by asking you readers: What is your reaction to this recent development? Does the joint statement of the prominent business group boost your confidence about the future of the country? Do you think the Philippine economy will be able to bounce back strongly next year? Does the continuing media coverage of the flood control corruption scandals and investigations continue to bother you?

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

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