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Headline inflation eased for the fifth consecutive month in June 2023 to 5.4 percent, down from 6.1 percent in May and at its lowest level since the 5.4 percent recorded in May 2022. The June inflation rate is within the 5.3 to 6.1 percent forecast range of the Bangko Sentral ng Pilipinas (BSP) and settled below the median estimate of 5.5 percent by private analysts.
The Philippine economic team, headed by Finance Secretary Benjamin E. Diokno, kicked off the US-Canada Non-Deal Roadshow (NDR) with a series of meetings with American asset management firms and fixed income investors on July 10, 2023 at the Citi Headquarters in New York City.
President Ferdinand R. Marcos, Jr. signed into law Republic Act No. 11954, otherwise known as the Maharlika Investment Fund (MIF) Act of 2023, establishing the Philippines’ first sovereign wealth fund aimed at boosting the country’s economic growth, on July 18, 2023 at the Malacañan Palace in Manila.
Finance Secretary Benjamin E. Diokno urged the financial technology (FinTech) community to work with the government in inspiring confidence in the digital markets during the Fintech Alliance 2023 Ambassador’s Gala with the theme, “Creating What’s Next in Digital: Dare-Drive-Defy” from August 7 to 8, 2023 at the Shangri-La The Fort in Taguig.
Finance Secretary Benjamin E. Diokno assured the Pamantasan ng Lungsod ng Maynila (PLM) community that the government will prioritize learning recovery in order to secure economic productivity.
Finance Secretary Benjamin E. Diokno welcomed the Philippines’ standing in the 2023 lnvestor Relations and Debt Transparency Report released by the lnstitute of lnternational Finance (llF) in June 2023.
Finance Secretary Benjamin E. Diokno emphasized the importance of maintaining good revenue performance in achieving the Ferdinand Marcos Jr. administration’s goals set in the Medium-Term Fiscal Framework (MTFF) during the Bureau of Internal Revenue (BIR)’s 119th Anniversary on August 1, 2023 at the Philippine International Convention Center (PICC) in Pasay.
The economic team of President Ferdinand R. Marcos, Jr. hosted its eighth Philippine Economic Briefing (PEB) at the Fairmont Royal York in Toronto, Canada on July 13, 2023 (Eastern Daylight Time) to apprise Canadian investors of business opportunities in the Philippines in time for the President’s second State of the Nation Address (SONA).