Philippine President Ferdinand Marcos Jr. signed the 2025 budget into law, increasing government spending by 10% to a record 6.33 trillion pesos ($109.2 billion) to boost economic growth and reduce poverty. The budget allocates 1.053 trillion pesos to education, 1.034 trillion to public works, and 35 billion to military modernization, with some cuts drawing criticism from advocates. Marcos vetoed over 194 billion pesos in proposed spending, aiming to achieve 6.0-8.0% economic growth in 2025.
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Singapore's core inflation rises 0.6% in June, lower than poll forecast
SINGAPORE's core inflation rate remained at 0.6% in June, slightly below economists' expectations, while headline inflation was also unchanged at 0.8%. The Monetary Authority of Singapore and Ministry of Trade and Industry anticipate moderate imported inflation due to easing global crude oil prices, with domestic costs projected to rise gradually amid enhanced government subsidies. Want More Context? 🔎
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