00:00 A study by Oxford Economics shows the Philippines is well positioned to achieve long-term economic growth
00:05 compared to most of its Asian peers.
00:08 This and other stories in tonight's Business News Wrap-Up.
00:11 A study by Oxford Economics showed the Philippines is well positioned to grow
00:18 over a longer period of time.
00:20 In fact, only China is faring better than the Pearl of the Orient Sea
00:24 in terms of positive long-term outlook among emerging economies,
00:28 followed by the Czech Republic, according to the Think Tank.
00:31 The Banco Central de Filipinas, or BSP, said big banks' lending growth declined further to a 21-month
00:39 low at 6.5% in September. This figure is lower than the 7.2% recorded in August this year.
00:46 Preliminary data from the BSP showed the outstanding loans of 45 universal and commercial
00:51 banks dipped to its lowest level since December of 2021, which was at 4.8%.
00:57 The Bureau of Internal Revenue, or BIR, attributes higher monthly collections,
01:04 consistently exceeding its set targets to heighten tax enforcement activities.
01:09 BIR Commissioner Romeo Lumagi Jr. is elated by the current collection efforts,
01:14 saying collection is going very well right now. But the BIR chief disclosed despite the encouraging
01:19 development they aim to further improve tax collections through digitalization and ramped
01:25 up activities versus illicit trades. Shorma Zespina, for The Nation.
