WHERE’S THE CRUSH?

Manila Times - - Business Times -

It peaked

- at a nine-year high

then eased be­gin­ning Novem­ber, prompt­ing mon­e­tary au­thor­i­ties to pause from fur­ther tight­en­ing in De­cem­ber. A man walks to­wards the New York Stock Ex­change (NYSE) on

HSBC said last month’s lower-

per­cent meant that con­sumer price growth was likely to re­turn to the of 2019 — faster than ex­pected.

- main a small risk amid the im­ple­men­ta­tion of a sec­ond tranche of tax in­creases, HSBC said that rel­a­tively sharp dis­in­fla­tion in food and trans­port prices due to rice im­ports and lower oil prices

P108.7 bil­lion.

“That is close to P12 bil­lion a month. That means to say that in­di­vid­u­als had ac­tu­ally ad­di­tional P12 bil­lion a month [ in ag­gre­gate] spend­ing power,” he said.

“So don’t look only at the col­lec­tion. Look at what was also given out di­rectly to in­di­vid­u­als. This Train law ben­e­fit­ted di­rectly in­di­vid­u­als who were earn­ing P250,000 and below. Train has suc­ceeded 100 per­cent in that re­gard,” the Fi­nance chief claimed.

should off­set this.

The bank added that its out­look for just one more US Fed­eral Re­serve rate hike in 2019 also meant there would be less pres­sure on the Bangko Sen­tral to hike rates to sup­port the peso.

given that the BSP con­sid­ers sharp

The big­gest gains were seen in to­bacco ex­cise tax and doc­u­men­tary stamp tax col­lec­tions.

The DoF said “bet­ter com­pli­ance and ad­vance pro­duc­tion” al­lowed ex­cise tax col­lec­tions from to­bacco to reach P5.9 bil­lion, 78.7 per­cent higher than the P3.3-bil­lion tar­get.

Higher trans­ac­tion val­ues and bet­ter col­lec­tion ef­fi­ciency, mean­while, al­lowed doc­u­men­tary stamp tax col­lec­tions to hit P49.1 bil­lion, more than dou­ble the P21-bil­lion tar­get.

and rapid cur­rency de­pre­ci­a­tion as one of the pri­mary fac­tors for any fur­ther rate hikes,” it added.

The cur­rency ended 2018 at P52.58 ver­sus the green­back, down sharply from its 2017 close

HSBC,

will

in­stead turn

their

The Fi­nance depart­ment said it ex­pected full- year Train rev­enues to hit the tar­get of P63.3 bil­lion “given over­all good per­for­mance of the rev­enue agen­cies based on emerg­ing full- year col­lec­tion data.”

The depart­ment pre­vi­ously tar­geted full- year Train rev­enues of P89.9 bil­lion but to slashed this due to de­lays in im­ple­ment­ing fuel mark­ing and elec­tronic in­voic­ing pro­vi­sions.

MAYVELIN U. CARA­BALLO

quar­ter of 2019), to

in­ject more and sup­port growth,” it said.

Jan­uary 11, 2019 in New York.

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