This is a brief rundown of what is being reported today in the Philippines and about the Philippines in the international press.
It endeavours to highlight the narratives currently shaping the country’s economic, financial, and business news landscape.
Ed’s note: I’m always looking for new sources with unique insights. If you have anything to share, reach out: mark.barnes@the-shiv.com
August inflation
The Manila Bulletin is reporting that Philippine inflation eased to 6.1 percent in August from 6.2 percent in July.
National Statistician Claire Dennis Mapa attributed the moderation mainly to slower price increases for food and non-alcoholic beverages. View source→
Gov’t bond yields pressure state-owned banks
The Manila Bulletin is reporting that Fitch Ratings has said rising Philippine government bond yields are putting pressure on the capital positions of state-owned Landbank and the Development Bank of the Philippines.
Both banks hold substantial government securities at fair value, leaving their capital vulnerable to the sharp increase in yields during the second quarter, the article says. View source→
Moody’s Analytics cuts growth forecast
The Inquirer is reporting that Moody’s Analytics has cut its 2026 Philippine growth forecast to 3 percent from 4 percent.
Weak domestic demand, sluggish investment, political uncertainty and persistent inflation are also weighing on growth, which reached just 2.6 percent in the first half, the article says. View source→
Business group warns gov’t reform needed
The Inquirer is reporting that Makati Business Club has warned that failure to reform the Philippine government could further undermine business and public confidence heading into 2027.
Chair Edgar Chua called for freedom of information legislation, relaxed bank secrecy rules and a “genuine” anti-political dynasty law to strengthen institutional confidence. View source→
Bond sale reconsidered
Bloomberg is reporting that the government is reconsidering a planned five-year jumbo bond sale this month as high inflation, a weak peso and rising interest rates increase borrowing costs.
National Treasurer Sharon Almanza said the government is reassessing the sale following a deterioration in the Middle East conflict since its borrowing plan was prepared.View source→
Government debt numbers
Business World Online is reporting that government debt reached a record PHP 19.39 trillion (US$310 billion) at the end of July, up 10.4 percent year-on-year.
University of Asia and the Pacific Economist Marco Antonio Agonia, cited in the article, said the debt remains manageable but warned that slower growth and weaker revenues are reducing fiscal space. View source→
Deficit-to-GDP forecast AMRO
Business World Online is reporting that the ASEAN+3 Macroeconomic Research Office (AMRO) expects the Philippines’ fiscal deficit to narrow to 5.3 percent of GDP in 2026 and 5.2 percent in 2027.
AMRO expects recent tax reforms and improved tax administration to strengthen government revenues and support continued fiscal consolidation. View source→
Green hydrogen
Business World Online is reporting that green hydrogen could improve Philippine energy security over the long term, but high costs and infrastructure requirements remain major barriers to deployment. View source→
Stock market Thursday
Philstar is reporting that Philippine shares rebounded on September 3 as the peso stabilised and investors awaited the release of August inflation data.
The Philippine Stock Exchange index rose 0.27 percent to 6,069.42, while advancing stocks outnumbered decliners 119 to 85. View source→