To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
The office leasing market sustained a strong momentum in the first half of 2025, with demand reaching 67 percent of full-year 2024, despite the withdrawal of Philippine Offshore Gaming Operators (POGO), real estate advisory firm Leechiu Property Consultants (LPC) said Thursday.
“Demand has been strong for the first half of the year. We believe it will continue. We never know what will happen, but we are optimistic about it,” Mikko Barranda, LPC director for Commercial Leasing, said during the presentation of the LPC Q2 2025 Philippine Property Market Report in Makati City.
The Information Technology and Business Process Management (IT-BPM) took up 50 percent of the total leasing activity, or 365,000 square meters, in the first half of 2025.
Traditional industries, on the other hand, accounted for 48 percent, or 354,000 sqm, of the demand, while government offices took the rest of the share at 21,000 sqm.
At least 79 percent, or 581,000 sqm, of the overall demand came from Metro Manila, with Bonifacio Global City representing 146,000 sqm, while provincial demand was at 21 percent to 159,000 sqm, with Cebu covering 81,000 sqm.
Barranda reported that the net demand has breached more than 50 percent to 271,000 sqm of the firm’s projection for the year.
“Contractions are tapering off and net take-up in terms of what we have projected back in Q1, which we feel will be at 490,000 sqm levels, were already touching 55 percent,” he said.
In the absence of POGOs, LPC Chief Executive Officer David Leechiu said this surge is already the highest since 2017.
Let me end this post by asking you readers: What is your reaction to this recent development? How far do you think the current surge of office leasing market will go by the end of the year? Do you think there are a lot more companies out there actively searching for office spaces to rent?
To put things in perspective, posted below is an excerpt from the Daily Tribune news report. Some parts in boldface…
The local government of Muntinlupa announced that three prominent hotels were recognized for their exceptional resilience in navigating various crises, from the recent pandemic to natural calamities.
In a statement, Muntinlupa Mayor Ruffy Biazon said that the awards highlight not just business success but also the steadfastness of these enterprises in the face of adversity.
Crimson Hotel secured the first prize for the Most Resilient Business Enterprise, followed by The Bellevue Manila in second place and Somerset Alabang in third.
“This isn’t just an award for business success, but for resilience amidst crisis,” Biazon said. “From the pandemic to various calamities, they have continuously remained open, provided assistance, and served as a pillar for our city.”
He also stressed that true success is measured not only by how high one reaches but by one’s fortitude during challenges.
“I salute businesses that not only recovered but also became part of the solution,” Biazon said, acknowledging the crucial role these establishments played.
“Muntinlupa’s hospitality industry, particularly its hotels, often finds itself on the front lines during disasters. These establishments frequently serve as evacuation sites and partners in emergency response efforts,” he added.
The mayor also said that resilience is not accidental as it requires deliberate planning, preparation, and effort, encompassing robust business continuity planning, comprehensive staff training, and close coordination with local government units.
Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted to know that the prominent hotels played key roles in dealing with crisis?
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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
There is no denying that consumers here in the Philippines prefer to use digital methods of paying over cash as more than 57% of retail transactions by volume are digital, according to a business news report by Malay Business Insight. The details were revealed by the Bangko Sentral ng Pilipinas (BSP).
To put things in perspective, posted below is an excerpt from Malaya Business Insight’s news report. Some parts in boldface…
More Filipinos are going cashless and transacting in e-money or digital cash as the most preferred payment for retail accounts, the Bangko Sentral ng Pilipinas (BSP) said in a report on Monday.
Based on the latest BSP status report, digital payments now account for 57.4 percent of retail transactions by volume as of end-2024, up from 52.8 percent in 2023. In terms of value, e-money’s share also increased to 59 percent from 55.3 percent.
The figures surpassed the government’s target range of between 52 and 54 percent as set under the Philippine Development Plan 2023–2028.
BSP Governor Eli M. Remolona Jr. said the steady year-on-year growth “reinforces the momentum built after surpassing the 2023 digitalization target of 50 percent for volume.”
He also said the upward trajectory “reflects the long-term impact of market developments, policy initiatives, and the growing trust and familiarity of Filipinos with digital payment options.”
Remolona said the BSP will continue to harness technology and finance to connect markets and ensure that “every Filipino becomes part of the formal financial system.”
They will do this by empowering banks, non-banks and the fintech sector to leverage innovation in designing financial products that are not only accessible but also more responsive to the needs of consumers.”
Let me end this post by asking you readers: What is your reaction to this recent development? When it comes to retail transactions, do you prefer to pay with cash or with a digital payment method? Do you have any e-wallets (electronic wallets) right now?
It has been more than a week since Microsoft announced its latest round of layoffs affecting not only thousands of employees but also Team Xbox, its game studios and certain game projects as well.
To be clear, this is not the first time Microsoft had layoffs this year but it is much more significant because the latest layoff round hit Xbox really hard and already Xbox fans and gamers saw their excitement about future video games drop. It is important to keep in mind that Microsoft and its Xbox division are both profitable which makes the new round of layoffs baffling to some. So far this year, over 15,000 employees were laid of by the technology giant. With the layoffs affecting Xbox’s developers and projects, there are matters that concerned both the Xbox fans and gamers who could have joined in.
Firstly, the Xbox game studio The Initiative will be closing down and their high-profile game Perfect Dark (which involved Crystal Dynamics) has officially been cancelled. This is tragic because Team Xbox had the opportunity to reboot the decades-old Perfect Dark franchise, delight the long-time PD fans while offering other gamers something new and exciting to play. A lot of gamers have been anticipating Perfect Dark for many years now only to end up frustrated.
The Perfect Dark reboot is no more!
Secondly, the successful and reliable Xbox game studio Turn 10 saw several of its employees laid off and their team will reportedly work as a supporter for Playground Games. For the newcomers reading this, Turn 10 created and built up the Forza Motorsport franchise of simulation racing games that started in 2005. To see Turn 10 get demoted and work on support duty for Playground Games on the Forza Horizon franchise is just very odd and baffling. Could this mean that Forza Motorsport (2023) is the last game of its franchise? Do you think a leaner Turn 10 will still be able to make another Forza Motorsport game?
Thirdly, the much-delayed Xbox game Everwildgot cancelled and its developer also suffered from the Microsoft layoffs. This unfortunate development only added to the perception that developer Rare (the team behind many hit games it made with Nintendo decades ago) kept going downhill creatively, critically and commercially. Considering how long the game development lasted, I can only imagine that many millions of Dollars were spent on Everwild and Microsoft decided to pull the plug.
Fourthly and most notably, Xbox head Phil Spencer’s official email (addressed to employees) related with the huge layoffs was revealed and its content has been posted below for you to see. Some parts in boldface…
Today we are sharing decisions that will impact colleagues across our organization. To position Gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft’s lead in removing layers of management to increase agility and effectiveness. Out of respect for those impacted today, the specifics of today’s notifications and any organizational shifts will be shared by your team leaders in the coming days.
I recognize that these changes come at a time when we have more players, games, and gaming hours than ever before. Our platform, hardware, and game roadmap have never looked stronger. The success we’re seeing currently is based on tough decisions we’ve made previously. We must make choices now for continued success in future years and a key part of that strategy is the discipline to prioritize the strongest opportunities. We will protect what is thriving and concentrate effort on areas with the greatest potential, while delivering on the expectations the company has for our business. This focused approach means we can deliver exceptional games and experiences for players for generations to come.
Do you miss the good old days of Xbox? Are you a long-time Xbox gamer who became disappointed over Team Xbox’s decisions and releases? You are not alone!
Prioritizing our opportunities is essential, but that does not lessen the significance of this moment. Simply put, we would not be where we are today without the time, energy, and creativity of those whose roles are impacted. These decisions are not a reflection of the talent, creativity, and dedication of the people involved. Our momentum is not accidental—it is the result of years of dedicated effort from our teams.
HR is working directly with impacted employees to provide severance plan benefits (aligned with local laws), including pay, healthcare coverage, and job placement resources to support their transition. Employees whose roles were eliminated are encouraged to explore open positions across Microsoft Gaming, where their applications will be given priority review.
Thank you to everyone who has shaped our culture, our products, and our community. We will move forward with deep appreciation and respect for all who have contributed to this journey.
This is my opinion about Spencer’s message…as head of Xbox, Spencer is really powerless and he has no choice but to follow orders from Microsoft’s top management whose views about video game culture and interests do not really match with what we gamers and the game makers have. For Microsoft’s leadership, they have a business to run but it is clear that gaming (electronic entertainment) won’t be going away soon and they will keep investing more money in video game projects. Of course, Microsoft expects healthy returns on its investments which is why they will keep the Game Pass subscription service moving, offer games to varied users (console, computer, mobile and cloud) and they will push through with the next-generation Xbox with AMD as a bigger strategic partner.
Regarding layoffs reaching thousands, it is depressing on face value because those who lost their jobs will have to deal with the high costs of living in first world economies like the United States and in parts of Europe. However, I see an opportunity that others cannot see…the opportunity for Team Xbox to get rid of their least-productive employees as well as laying off the woke activists scattered among the employees of the many Xbox game studios. As seen in entertainment over the past several years, woke activists working in movies, video games, comic books and TV shows do not prioritize quality, do not care about the fans, and they keep on abusing the company resources as they prioritized their Leftist agenda. Is it any wonder why modern entertainment sucks? Did you notice the use of pronouns in Xbox games?
To be fair, Microsoft and Team Xbox both have been woke for years already. In America, the tone of society has changed drastically ever since Donald Trump successfully returned as United States President. Perhaps Microsoft and Xbox executives realized that they should get rid of DEI (diversity, equity and inclusion) from their business practices and corporate culture before the wave of change under Trump’s America leaves them behind. As of this writing, Trump is making America great again and the woke know they are losing the culture war.
As US President Trump is reshaping America to be great again, meritocracy has become essential too. This means DEI (diversity, equity and inclusion) really has no place in government, business, entertainment and culture. DEI must DIE!
I can only speculate that as Xbox game studios each have less employees to work with, there could be a renewed effort to focus more on making high-quality video games that are both enjoyable to play and worth the money of customers. The Outer Worlds 2, which will be released this October, has an eye-catching American price of $79.99 (regular edition) and already a lot of gamers – including The Outer Worlds fans – find the price excessive.
The way things are right now, the future of Xbox looks gloomy and the excitement of the Xbox fans and other gamers have weakened. That being said, we can only wait and see what will happen next in the near future. Perhaps a month from now, Team Xbox will clarify what direction they are headed to and what exciting projects or events fans can still look forward to.
How do you gamers feel about Xbox gaming right now? If you are an Xbox fan, are you feeling disappointed with the cancellation of Perfect Dark and Everwild? Do you think it is time for Team Xbox’s leadership to be changed now that Microsoft impacted the gaming projects and work forces?
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
Headline inflation continued to remain below the lower end of the government’s target range in June, despite a slight uptick due to a faster increase in non-food prices.
In a briefing on Friday, National Statistician Dennis Mapa said headline inflation settled at 1.4 percent in June from 1.3 percent in May.
This brings the year-to-date average inflation to 1.8 percent, well within the government’s target range of 2 percent to 4 percent for the year.
Mapa said the slight uptick in headline inflation was driven by higher non-food inflation (1.9 percent from 1.5 percent), with faster price increases observed in electricity (7.4 percent from 2.8 percent) and education (5.4 percent from 4.2 percent). Food inflation, however, eased to 0.1 percent during the month from 0.7 percent in May.
Mapa said the deceleration of food inflation in June was mainly due to the annual decrease in the prices of vegetables, tubers, plantains, cooking bananas, and pulses at 2.8 percent from an annual increase of 3.4 percent in the previous month. Rice deflation also hit a record low of 14.3 percent in June.
Mapa said the rollout of the government’s PHP20 per kg. rice program also contributed to the decline, especially in regular-milled rice prices.
In a separate statement, the Department of Economy, Planning, and Development (DEPDev) said government measures to stabilize food supply, boost agriculture, and improve logistics helped ease food inflation during the month.
“The sharp decline in food inflation over the past year underscores the continued progress in our coordinated efforts to boost local production, improve logistics, and implement calibrated trade and biosecurity measures,” DEPDev Secretary Arsenio Balisacan said.
“We will sustain these interventions and complement them with targeted initiatives to ensure a continuous, stable supply and shield consumers from future price pressures.”
To further strengthen food supply chains, DEPDev said the Department of Agriculture (DA) would intensify the implementation of industry recovery and expansion programs, such as the Swine Industry Recovery Project and Livestock Economic Enterprise Development, to accelerate the rehabilitation of the hog industry and restore the pre-African Swine Fever hog population levels.
The DA will also establish the country’s first Onion Research and Extension Center in Bongabon, Nueva Ecija for the development of effective methods to combat pests and diseases, enhance seed quality, and increase farm yields.
The Department of Energy, meanwhile, has partnered with private oil companies to offer fuel discounts to motorists affected by oil price fluctuations amid geopolitical uncertainties.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think inflation rate of the Philippines will be able to settle below 2% per month until the end of the year? If you are managing a local business, how much of an impact did inflation have on your business?
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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Based on the latest international tourism statistics and analysis for 2025, the Philippines is clearly failing to attract foreign tourists when compared to its Southeast Asian neighbors, according to a news article by VnExpress.
To put things in perspective, posted below is an excerpt from the VnExpress news article. Some parts in boldface…
An online debate has erupted on social media as users wonder why the Philippines, with its rich nature, culture, and cuisine, is being overlooked by foreign tourists in favor of destinations like Vietnam and Thailand.
Thea Tan, a Filipino, posted on her X account in May expressing frustration over the Philippines’ underwhelming tourism numbers despite offering what other countries dream of: breathtaking beaches, vibrant culture, incredible food, and the warmest locals.
“So, why are tourists still choosing Thailand, Vietnam, and Bali over us?” she asked.
The post quickly went viral, accumulating over 9,000 likes and hundreds of comments.
In the first quarter of the year, Malaysia topped the list of most-visited Southeast Asian countries, with 10.1 million arrivals, followed by Thailand (9.55 million), Vietnam (6 million), and Singapore (4.3 million). By April, the Philippines had only welcomed 2.1 million visitors.
In 2024, the country saw 5.9 million foreign tourists, falling short of the government’s target of 7.7 million and far behind its regional neighbors including Cambodia, which had 6.7 million visitors.
Many online users, like Tan, argue that the Philippines is not considered a top priority destination in ASEAN.
“We are tiring out tourists with poor infrastructure and complicated transportation,” Tan noted.
Even locals find domestic travel expensive and difficult, let alone for foreign visitors, according to comments on the post.
“The Philippines has beautiful beaches, delicious food, and friendly people, but it lacks roads, reliable airports, and public transportation. Most importantly, the prices here are too high,” one local shared.
Another netizen pointed out, “In all the countries you’ve mentioned, their capitals are also tourist destinations. Manila, on the other hand, is boring for tourists. We don’t have decent museums or historical tours, and moving around in Manila is not easy either.”
A netizen added, “The government isn’t investing in quality tourist facilities and infrastructure like our neighboring countries. That’s where we’re lagging behind.“
Recently, the Philippines was ranked as the most dangerous destination by U.K. financial comparison site HelloSafe in a survey dismissed by the Philippines’ tourism experts as biased and misleading.
Victor Lim, president of the Federation of Filipino-Chinese Chambers of Commerce and Industry, emphasized that the Philippines must improve its infrastructure and enhance safety measures to establish itself as a leading tourist destination in Southeast Asia, Philstar reported.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Department of Tourism and its strategic partners should get together and come up with hard adjustments to make the Philippines more attractive to foreigners? What do you think are the five biggest problems of the tourism industry of the country? Do you consider tourism-related awards crucial to the Philippines’ ability to attract visitors from around the world?
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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Following the recent announcement of several medicines declared exempted from the value-added tax (VAT), nineteen more medicines became VAT-exempt as a result of the recommendation of the Food and Drug Administration (FDA) to the Bureau of Internal Revenue (BIR), according to a news article by the Philippine News Agency (PNA).
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
Nineteen maintenance and lifesaving medicines have been included in the list of those exempted from value added tax (VAT), benefiting more people.
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr., during the Bagong Pilipinas Ngayon briefing on Thursday, said nine medicines were included under Revenue Memorandum Circular (RMC) 59-2025 issued on June 11, 2025 while the other 10 are covered by RMC 62-2025.
He said the inclusion of the medications for VAT exemption was based on the recommendation of the Food and Drug Administration (FDA).
Of the total, seven of these medicines are for cancer treatment; three each for diabetes, hypertension and mental illness; one each for high cholesterol, kidney disease, and tuberculosis.
“Ang mga ito ay mga maintenance at lifesaving medicines na ngayon ay hindi na papatawan ng VAT. Isang kongkretong hakbang para mas mapagaan ang gastuhin ng mga pasyente (These are maintenance and lifesaving medicines that will now be exempt from VAT. This move is a concrete step to lower patients’ expenses),” Lumagui said.
The BIR chief said both the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the Tax Reform for Acceleration and Inclusion (TRAIN) law provide VAT exemptions on certain health products.
He said BIR coordinates with the FDA and the Department of Trade and Industry (DTI) among others to monitor compliance among pharmaceutical companies and drugstores regarding this price changes.
Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that a lot more medicines were declared VAT-exempt?
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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient. PLDT itself has its current headquarters in Makati City which has lasted for decades. This new development with Filinvest City adds potential business value to Alabang. It should be noted that Filinvest City also has its own local residents.
To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…
Filinvest City, the premier township developed by the Filinvest Group, is poised for a transformation with the announcement that PLDT Inc., the nation’s largest integrated telecommunications company, will relocate its headquarters to the Southgate District of Filinvest City.
This strategic move, which involves the development of the country’s first tech campus, signals a game-changing moment for the Garden City, paving the way for a smarter, greener, and more connected urban landscape in Metro South.
The decision to move was revealed in a press statement from Filinvest City, noting that PLDT’s choice of Filinvest City followed years of careful study and strategic planning.
The planned five-hectare PLDT campus, envisioned as the future headquarters for the telecommunications group, is slated for progressive development, with initial phases expected to commence soon.
The project draws inspiration from leading global tech campuses and reflects PLDT’s long-term commitment to fostering an innovative and future-ready workplace.
This campus is part of our effort to build a healthier, more collaborative work environment, said PLDT Chairman and CEO Manuel V Pangilinan. He added that it reflects our belief that the workplace must evolve alongside the industries we serve. We hope it will inspire creativity, encourage teamwork, and support the future of PLDT.
The tech campus is designed not only as a headquarters but also as a hub for innovation, collaboration, and digital transformation, aiming to consolidate talent and technology to cultivate a culture of agility and forward-thinking.
This aligns with PLDT’s dedication to shaping the future of connectivity in the Philippines. The development is projected to create thousands of jobs during both construction and operational phases, boosting demand for residential and commercial spaces and supporting local businesses and startups.
It is also expected to attract professionals and innovators to Metro South, reinforcing Filinvest City’s role as a nexus for future-forward enterprises.
Josephine Gotianun-Yap, Vice Chairperson, Filinvest Development Corporation, noted the transformation of Filinvest City from a quiet stock farm into a vibrant garden metropolis, stating that this was achieved through vision, dedication, and a steadfast sense of purpose. She also said, Filinvest City was designed with intention: to foster an environment where businesses thrive, innovation flourishes, and people live well. We believe a great city is not simply a backdrop to success—but a catalyst for it.” She further added that Filinvest remains committed to continued growth and meaningful collaboration, especially with PLDT, as it pursues its mission to empower Filipinos through meaningful connections, digital inclusion, and sustainable progress.
This landmark project reinforces Filinvest City’s commitment to sustainable and integrated urban planning. As the country’s only central business district holding both LEED Gold and BERDE certifications, Filinvest City is recognized for its green building standards and environmentally responsible design. The city’s master plan embraces the live-work-play philosophy, ensuring a holistic urban experience for its residents, workers, and visitors.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think PLDT’s upcoming headquarters in Alabang will create many new jobs and add value to Filinvest City as business and investment destination? Do you think this new development will influence other major corporations to consider establishing new headquarters in Alabang? Do you consider Muntinlupa City a more competitive highly urbanized city (HUC) in relation with PLDT’s upcoming Alabang headquarters?
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
As there are more signs of weakness and uncertainty, the economic managers of the Philippines officially lowered their economic growth target this year, according to a Philippine News Agency (PNA) news article.
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
Economic managers on Thursday revised the economic growth target for this year amid mounting global uncertainties.
At a briefing after the 191st Development Budget Coordination Committee (DBCC) meeting, Budget Secretary and DBCC Chair Amenah Pangandaman said the economic growth assumption for 2025 was revised downward to 5.5 to 6.5 percent from the previous 6 to 8 percent.
For 2026 to 2028, the Philippine economy is projected to expand by 6 to 7 percent, reflecting a more cautious and resilient economic outlook amid global headwinds.
“The revisions take into account heightened global uncertainties, such as the unforeseen escalation of tensions in the Middle East and the imposition of U.S. tariffs,” Pangandaman said.
She said that despite these challenges, the DBCC remains “vigilant and ready to deploy timely and targeted measures” to mitigate their potential impact on the Philippine economy.
The budget chief said the country continues to be one of the fastest-growing economies in ASEAN driven by robust domestic demand.
To maintain this momentum, she highlighted the administration’s focus on structural reforms, including the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act and the Public-Private Partnership (PPP) Code, both designed to enhance the country’s trade and investment competitiveness.
Pangandaman said the government will also pursue the approval and implementation of other reforms recently ratified by Congress, such as the Liberalizing the Lease of Private Lands by Foreign Investors Act, Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, Accelerated and Reformed Right-of-Way (ARROW) Act, and Konektadong Pinoy Act.
The DBCC also revisited the medium-term macroeconomic assumptions to take into consideration recent global and domestic developments.
The inflation assumption for this year was cut to 2 to 3 percent from the previous 2 to 4 percent. For 2026 to 2028, the inflation assumption was retained at 2 to 4 percent.
For 2025 to 2028, crude oil price assumptions were reduced to USD60 to USD70 per barrel from USD60 to 80 per barrel, despite escalating geopolitical tensions.
The foreign exchange rate is assumed to remain stable, averaging at PHP56 to PHP58 per US dollar from 2025 through 2028, supported by lower domestic inflation.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines is lacking momentum to achieve 6% growth this year? Do you think that inflation and unemployment will eventually rise before the year ends? Are you convinced that foreign investors are staying away from the Philippines?
Counterfeiting of money is a hot issue right now in the Philippines as the Bangko Sentral ng Pilipinas (BSP) called for targeted anti-counterfeiting campaigns in specific places of trade and commerce, according to a business news report by the Manila Bulletin.
To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…
The Bangko Sentral ng Pilipinas (BSP) is calling for targeted anti-counterfeiting campaigns in shopping malls, supermarkets, and wet markets after these locations emerged as the main sources of fake banknotes and coins recovered last year.
Data from the 2024 BSP annual report published in June showed that counterfeits were “frequently recovered in areas with high foot traffic, such as shopping malls (27.2 percent), supermarkets (25.9 percent), and wet markets (20.9 percent).”
“This highlights the need for targeted anti-counterfeiting campaigns in these areas,” the report said.
According to the central bank report, the ₱1,000 paper banknote was the most counterfeited bill, accounting for 59.9 percent or the majority of documented counterfeits last year. The ₱500 paper banknote was the second-most counterfeited bill at 19.3 percent.
Notably, there were a very low number of cases of counterfeit ₱1,000 polymer banknotes. Recording only three “low-quality” counterfeits in 2024, the BSP noted that the three-year-old ₱1,000 polymer banknote has shown “resilience” against counterfeiting.
“These counterfeit polymer banknotes were printed on paper, with the transparent portions cut out and substituted with substandard plastic, making them easily detectable by the public,” the BSP said.
Fake coins also dropped significantly by 87.8 percent last year, noting that there were fewer than one fake coin for every one million real coins in circulation. Most counterfeit coins were leftovers from previous years, mostly five-peso coins from the BSP coin series.
The BSP attributed this substantial decline in counterfeited banknotes and coins to the “enhanced security features of the New Generation Currency (NGC), including the micro-printed details and laser-engraved designs.”
These added features made it more challenging for fraudsters to copy and reproduce the currencies, the BSP said.
Most counterfeiting involved inkjet printing, accounting for 79.7 percent of the recorded cases. Laser printing was next at 12.6 percent, while tampered security threads accounted for 7.6 percent.
When it comes to location, most fake currencies were found in Metro Manila, at 52.2 percent, followed by the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon (collectively known as CALABARZON), at 12.2 percent.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think counterfeiting in the Philippines will get worse over the next twelve months? Do you think the local supermarket, wet market or shopping mall are hot spots of fake banknotes and coins? Who do you think is responsible for the rise of counterfeit money? Do you think the BSP’s research about counterfeiting is accurate?
Author Carlo Carrasco 