Philippines – Page 2 – Author Carlo Carrasco

IMF Reduces Philippine Growth Outlook Until 2027

July 15, 2026July 10, 2026carlocarrasco

While the government of the Philippines is delighted over the nation’s new status as an upper-middle income economy (click here and here) believing that a bright economic future is approaching, the International Monetary Fund (IMF) sees the national economy growing at a weaker pace until 2027, 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…

THE PHILIPPINE ECONOMY could post its weakest growth this year since the pandemic, as the Middle East war drives up prices and dampens economic activity, the International Monetary Fund (IMF) said.

In its latest World Economic Outlook (WEO) released on Wednesday, the IMF trimmed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.9% from 4.1% previously. This is still within the government’s 3.5%-4.5% target.

“This reflects a weaker-than-expected outturn in the first quarter of 2026 (2.8%) alongside a larger-than-expected effect of the war in the Middle East on prices and activity in the Philippines,” an IMF spokesperson said in an e-mail.

Oil price shocks and the lingering impact of the flood control fallout dragged first-quarter Philippine GDP growth below market and government expectations at 2.8%.

Since the United States and Israel first launched attacks on Iran on Feb. 28, spiraling oil prices fed into the costs of other key commodities and squeezed consumers’ pockets.

If the IMF’s projection holds true, the country’s full-year expansion will be weaker than the 4.4% recorded in 2025, when a massive flood control corruption scandal dampened public spending, investments, and sentiment.

It would also mark the economy’s worst performance since the 9.5% contraction during the COVID-19 pandemic in 2020.

Excluding the pandemic, it would match the 3.9% expansion in 2011 and would be the worst in 17 years or since the 1.4% in 2009.

The multilateral lender’s Philippine growth estimate is below its projection for ASEAN-5, which it kept at 4.1% for this year. ASEAN-5 is composed of Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

The Philippines is expected to lag Indonesia (5%) and Malaysia (4.7%) but outpace Thailand (1.9%) this year.

At the same time, the IMF trimmed the Philippine growth projection for 2027 to 5.5% from 5.8% previously, on the back of base effects and a potential improvement in sentiment.

This is within the government’s 5%-6% target for the year. It is also above the IMF’s 2027 growth projection of 4.3% for ASEAN-5.

“The rebound in 2027 is driven mainly by favorable base effects, alongside a gradual pickup in investment as confidence improves and supply-side effects related to the war ease,” the IMF spokesperson said.

According to the multilateral lender, risks to domestic growth may come from extreme weather disturbances, as well as a slower-than-projected normalization of public investments and reform momentum.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you find the IMF’s analysis for the Philippines believable? Do you think the economy of the Philippines will grow below 5% per year until the end of 2028?

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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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 @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

BSP Eyes Late-2026 Relaunch Of Coin Deposit Machines

July 14, 2026July 7, 2026carlocarrasco

Remember the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) installed in key locations in the Philippines? The BSP is aiming to relaunch the coin deposit machines program before the end of this year, according to a news article by the Philippine News Agency (PNA).

It is recalled that almost P1.5 billion worth of coins were deposited before the BSP suspended their program in June of 2025.

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

The Bangko Sentral ng Pilipinas (BSP) is aiming to relaunch the operation of coin deposit machines (CoDMs) in Metro Manila before the end of the year.

In a recent media luncheon, BSP Deputy Governor Bernadette Romulo-Puyat told reporters the BSP is targeting the initial relaunch of the existing 25 CoDMs for the last week of October to early November 2026.

“This timeline takes into account the required software enhancements, modifications to the enclosure and hardware components, as well as the calibration, accuracy testing, and end-to-end testing of the existing CoDM units prior to deployment,” Romulo-Puyat said.

CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash electronic wallets.

To recall, the BSP temporarily suspended the operation of CoDMs last year to review how to re-circulate idle coins.

Following the review, the BSP will relaunch the coin deposit machines as part of its commitment to enhancing its coin recirculation program.

Romulo-Puyat said the BSP partnered with SM to lower the operational costs of the CoDMs.

“The coin retrieval was so expensive, so we found ways for the private sector to be able to bear the cost,” she said.

Aside from the 25 CoDMs earlier deployed in Metro Manila, another 25 will be deployed in other areas next year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve 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.

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110,508 Muntinlupa Students Are Beneficiaries Of Local Scholarship Program

July 14, 2026July 8, 2026carlocarrasco

More than one hundred ten thousand students of Muntinlupa are officially beneficiaries of the local scholarship program which continued to expand, according to a news report by the Manila Bulletin.

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

A total of 110,508 students are now beneficiaries of the Muntinlupa City government’s scholarship program, Mayor Ruffy Biazon announced.

He said the city’s guiding principle is that “no child should be left behind,” noting that the program continues to expand alongside the annual Free Back to School Package.

“Bukod sa taun-taong Libreng Balik Eskwela Package para maging handa ang mga estudyante sa school, patuloy pang pinalalawak ang scholarship program para mas marami ang makinabang (So aside from the annual Free Back to School Package to get students ready for school, the scholarship program is continuously expanding so that more people can benefit),” Biazon said.

He added that the number of scholars is more than twice the maximum capacity of the Philippine Arena, regarded as the largest indoor arena in the world.

This year, the city government allotted P600 million for scholarships covering learners from Grade 1 to post graduate levels.

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 satisfied with the current state of education in the city? Do you approve of the local scholarship program?

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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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

Vietnam Collects Over $9 Billion From Foreign Tourists In First Half Of 2026

July 13, 2026July 6, 2026carlocarrasco

Following its current success on attracting tourists from around the world during the first half of this year, Vietnam raked in $9 billion in the said period, according to a news report by VnExpress.

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

Vietnam collected more than US$9 billion from foreign visitors in the first six months, while Vietnamese spent $8 billion abroad in the same period.

The country recorded a tourism trade surplus of $950 million, compared with a surplus of $480 million in 2025 and a deficit of $380 million in 2024, according to the General Statistics Office.

Vietnam’s Party General Secretary and President To Lam, in a meeting with government bodies on Saturday, called for a more detailed analysis of the country’s services trade balance and urged the development of a strategy to rebalance Vietnam’s tourism sector in the coming years.

He said achieving a larger tourism surplus would require upgrading the industry so that international visitors spend more during their stays, while encouraging more Vietnamese travelers to choose domestic destinations.

The country welcomed nearly 12.3 million international visitors in the first six months, up 14.9% year-on-year.

Minister of Culture, Sports and Tourism Lam Thi Phuong Thanh said the government would continue efforts to develop tourism into a genuine key economic sector.

She said the mutually supportive relationship between tourism and related industries should be strengthened, with the sector shifting from a growth model focused on scale and visitor numbers to one emphasizing quality, higher value-added services, creative products, and distinctive travel experiences.

Vietnam’s tourism industry will also target higher-spending visitors and longer-stay travelers, she added.

Let me end this piece by asking you readers: What is your reaction to this development? With tourism booming in their country, do you think Vietnam can collect at least $20 billion from foreign tourists by the end of 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.

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Philippines Supreme Court Upholds Law Granting VAT Refund To Foreign Tourists

July 12, 2026July 6, 2026carlocarrasco

Remember the law granting value-added tax refund (VAT refund) to foreign tourists signed a few years ago? That law was challenged and recently the Supreme Court of the Philippines upheld the constitutionality of Republic Act 12079 (the act creating a VAT refund mechanism for non-resident tourists), according to a news report by GMA News.

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

The Supreme Court (SC) has upheld the constitutionality of a law that grants value-added tax (VAT) refunds on select local purchases by non-resident foreign tourists.

In a 30-page decision, the SC En Banc dismissed a petition challenging the validity of Republic Act 12079, or an act creating a VAT refund mechanism for non-resident tourists, adding Section 112-A to the National Internal Revenue Code.

“Granting VAT refund to foreign tourists was not arbitrarily done. It is a policy decision based on legitimate state interests, i.e. the need to remain competitive as a global tourist destination,” the SC said.

“In fine, foreign tourists may be granted privileges and benefits that are not extended to Filipino citizens, so as long as these distinctions are based on reasonable and justifiable classifications, as in here,” it added.

According to the SC, the VAT refund applies to goods brought from duly accredited stores and taken out of the country within 60 days from purchase. The goods must be priced at least P3,000 per transaction.

Meanwhile, the SC said Section 5 of the law’s implementing rules and regulations limit the refund to retail and tangible goods, including clothing, apparel, electronics, gadgets, jewelry, accessories, souvenirs, food or non-food consumables, and other items intended for personal use.

The petitioner, however, argued that the law violates the constitutional guarantee of equal protection as it excludes Filipino citizens.

For its part, the SC said equal protection does not require identical treatment for all persons.

It said the act also distinguishes foreign tourists from Filipino citizens.

According to the SC, the VAT refund system follows the basic rule of VAT that goods are taxed where they are consumed. If the goods are consumed in the Philippines, they remain subject to Philippine VAT.

Meanwhile, the SC added that VAT refund for foreign tourists is a well-established international practice.

“The Philippines is among the last few countries in Asia to adopt such a system. Our Asian neighbors, Indonesia, Malaysia, Singapore, Thailand, Vietnam, China, and Japan have long implemented this VAT refund mechanism for foreign tourists,” it said.

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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NLCOM Assists Over One Thousand Families In General Santos City

July 11, 2026July 11, 2026carlocarrasco

New Life Community Care Foundation International, Inc. (NLCOM) – the compassion arm of New Life Philippines located inside Alabang Hills Village in Muntinlupa City – provided assistance and much-needed relief to more than one thousand families in General Santos City who were impacted by the powerful Mindanao earthquake.

To put things in perspective, posted below is an excerpt from the July 5 social media announcement by NLCOM. Some parts in boldface…

From June 22–25, we had the privilege of serving earthquake-affected communities across General Santos City, Sarangani, T’Boli (South Cotabato), and nearby areas. During those few days, we distributed relief assistance to 1,100 families, installed 17 community water filtration systems, and conducted Psychological First Aid (PFA) to help children, families, and communities.

Every disaster reminds us that the need is always greater than our capacity. While we thank God for every relief bag distributed, every family reached, every community given access to clean water, and every conversation that brought comfort, we also recognize that there are still many who need help, hope, and healing.

Our prayer is not simply to do more, but to be more prepared—to continue equipping ourselves, strengthening partnerships, and responding with excellence whenever communities are faced with crisis. We pray that God will continue to expand our capacity so that more lives can be served, more families can receive practical care, and more hearts can experience His love through the Church.

As we look ahead, we invite you to continue standing with us. Pray for the communities that are still rebuilding, pray for our local church partners, and if God is stirring your heart to be part of future disaster response efforts, we’d love to connect with you.

To watch the Facebook video post of NLCOM, click https://www.facebook.com/share/v/18fBh4XHGH/

For the newcomers reading this, I previously blogged about NLCOM back in 2020 which you can read by clicking here and my recent blog posts can viewed by clicking here, here, here, here, here and here. NLCOM has an established record of providing relief to disaster victims and helping them rebuild their lives and communities as they recover.

NLCOM is committed to organizing activities from disaster preparedness trainings, relief goods distribution, mobile kitchen feeding operations, Psychological First Aid to kids and adults traumatized by a disaster, and rebuilding of damaged houses. To get to know NLCOM better, I recommend you watch their official YouTube video below…

If you have decided to help people through NLCOM, be aware that New Life’s compassion arm is accepting donations. You may send your monetary donations to:

NEW LIFE COMMUNITY CARE FOUNDATION INT’L. INC.

PESO CHECKING ACCOUNT:

Unionbank (Richville Branch)

00-133000543-3

US DOLLAR ACCOUNT:

Unionbank (Richville Branch)

13-133000530-7

Swift Code: ubpphphmm

Via PAYPAL: https://www.paypal.com/paypalme/nlcomPH

For more information about NLCOM, visit https://nlcom.org.ph/ or visit their office at 2 Don Manolo Boulevard, Alabang Hills Village, Barangay Cupang, Muntinlupa City, Metro Manila, Philippines. Contact them at landline 88091542 extension 426.

In ending post, let me share with you a few holy scriptures that should remind you that God is our source, our provider and the blessedness of giving is absolutely true. Be remind that Lord Jesus is the hope of all nations.

Mercy to the needy is a loan to God, and God pays back those loans in full.

Proverbs 19:17 (MSG)

Let nothing be done through selfish ambition or conceit, but in lowliness of mind let each esteem others better than himself. Let each of you look out not only for his own interests, but also for the interests of others.

Philippians 2:3-4 (NKJV)

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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

Vietnam Attracts 12.3 Million Foreign Tourists In 1st Half Of 2026

July 10, 2026July 4, 2026carlocarrasco

Tourism in Vietnam continues to boom as the nation attracted more than twelve million foreign tourists in the first half of this year, according to a news report by VnExpress.

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

Vietnam received 12.3 million international visitors in the first six months of the year, a 14.9% increase from the same period last year, fueled by the country’s reputation as a safe destination amid global geopolitical uncertainty.

In the second quarter alone, the number of foreign visitors to Vietnam reached 5.49 million, up 18.2% year-on-year, according to the General Statistics Office.

Mainland China remained the largest source of visitors so far this year with 2.69 million, followed by South Korea with 2.1 million. The rest of the top 10 were Russia, Taiwan, the U.S., Cambodia, India, Japan, the Phillippines and Australia.

The Vietnam National Administration of Tourism attributed the strong growth to the country’s reputation as a safe and stable destination amid global political uncertainty.

Let me end this piece by asking you readers: What is your reaction to this development? What do you think makes Vietnam very attractive to visitors from around the world? Have you thought about visiting Vietnam 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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Foreigner Arrested In Las Piñas City For Assaulting Filipina Partner

July 9, 2026July 3, 2026carlocarrasco

Recently in the City of Las Piñas, a male Korean national was apprehended after assaulting his Filipina partner, according to a news report by the Manila Bulletin.

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

A Korean man was arrested in Las Piñas City on Wednesday, July 2, after allegedly assaulting his Filipina partner during an argument sparked by a video discovered on his mobile phone.

Las Piñas Police chief Col. Fermin Armendarez identified the suspect only as “Sowi,” 39, residing in BF Resort, Barangay Talon Dos.

Armendarez said the 24-year-old victim confronted the suspect after discovering a video on his mobile phone showing him with another woman inside a hotel.

The confrontation escalated into a heated argument, during which the enraged suspect repeatedly slapped the victim.

Police said the victim attempted to flee, but the suspect allegedly chased her and repeatedly struck her on the head with his mobile phone.

Concerned residents who witnessed the incident immediately sought assistance from barangay watchmen who arrested the suspect. He was turned over to the Las Piñas Police Substation 4.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? When was the last time a foreigner assaulted a woman in your local community?

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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Great Majority Of Las Piñas City Residents Support Dismantling Of C-5 Quirino Flyover To Make Way For LRT-1 Cavite Extension

July 8, 2026July 3, 2026carlocarrasco

A survey conducted by the office Las Piñas City Representative Mark Santos revealed more than eighty percent of local residents favor the dismantling of the C-5 Quirino Flyover to make way for the delayed LRT-1 Cavite Extension project, according to a news report by the Manila Standard.

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

Nearly 82 percent of Las Piñas residents support dismantling the C-5 Quirino Flyover to allow immediate continuation of the LRT-1 Cavite Extension Project, a survey conducted by the office of Las Piñas Lone District Rep. Mark Anthony Santos showed.

Santos said the survey, which gathered comments from various social media platforms, found that many residents favor immediate construction of Phase 2 of the 3.2-kilometer LRT-1 Cavite Extension, including the Las Piñas and Zapote stations, over retaining the P300.39-million C-5 Quirino Flyover.

Respondents said the LRT-1 Cavite Extension would provide greater public benefit by reducing travel time, easing traffic congestion and delivering more efficient public transportation for commuters from Las Piñas, Parañaque and Cavite.

Many residents said the temporary inconvenience caused by dismantling part of the flyover would be a small sacrifice if it allowed the railway project to move forward and deliver long-term benefits to the public.

They said completing the LRT-1 Cavite Extension matters more than preserving an infrastructure project they consider a major obstacle to the railway’s completion.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you favor dismantling the C-5 Quirino Flyover to make way for the completion of the LRT-1 Cavite Extension project?

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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USA Reaffirms Support For The Philippines Following China’s Ballistic Missile Launch

July 8, 2026July 7, 2026carlocarrasco

Following the disturbing ballistic missile launch of Communist China into the Pacific Ocean, the United States reaffirmed its support for the Philippines, according to a news report by the Manila Bulletin. Symbolically, the new US Ambassador to the Philippines Lee Lipton issued an official statement.

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

The United States has reaffirmed its commitment to the Philippines after China test-launched an unarmed intercontinental-range ballistic missile from a submarine into the southern Pacific Ocean.

In a statement on Tuesday, July 7, US Ambassador to the Philippines Lee Lipton said the launch underscored concerns over Beijing’s nuclear weapons buildup and its implications for regional peace and stability.

“The ironclad US-Philippine Alliance has been a tremendous and transparent source of regional peace and stability for over seven decades,” Lipton said.

“Beijing’s provocative missile launch yesterday is further evidence of its rapid and secretive nuclear weapons development program, which runs counter to regional stability and is inconsistent with the pursuit of meaningful arms control discussions,” he added.

Lipton said the United States shares the Philippines’ concerns over the missile launch and remains committed to its “oldest security ally in the region.”

The statement followed a July 6 statement by US State Department spokesperson Thomas “Tommy” Pigott, who said the United States had monitored China’s test launch of an unarmed intercontinental-range ballistic missile from a submarine.

According to Pigott, the missile landed in the southern Pacific Ocean.

“At a time when the United States is working harder than ever to prevent nuclear proliferation, China is doing the opposite,” Pigott said.

He said China’s “rapid and opaque nuclear weapons buildup” remains a major concern for countries in the region and the international community.

The United States also urged China to participate in meaningful arms control talks and establish a regular notification arrangement for all intercontinental-range ballistic missile and space launches.

Such an arrangement, Pigott said, would be consistent with commitments made by the other members of the P5, or the five permanent members of the United Nations Security Council.

“The United States remains steadfast in our defense commitments to our allies and partners,” Pigott said.

The latest US statements come amid continuing concerns over China’s expanding military capabilities and increasingly assertive activities in the Indo-Pacific, including in the West Philippine Sea.

Let me end this piece by asking you readers: What is your reaction to this development? Are you concerned that China could someday attack the Philippines with ballistic missiles? Do you think this destabilizing move by China could spark the US to send more naval vessels into the Asian region? How do you think US President Donald Trump will react if ever China launches even more ballistic missiles?

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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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 @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

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