The passage of still pending tax reform measures, addressing supply-related issues in agriculture and opening imports of agriculture inputs for manufacturing, are seen to sustain the robust growth of the Philippine economy.
Global information firm IHS Markit remains optimistic about the Philippine economy's direction for the remainder of the year but expects stronger growth in 2019 with the Duterte administration’s “Build, Build, Build” program as main driver.
The Department of Energy (DoE) and the European Union (EU) are pushing ahead with the energization of off-grid communities that would benefit close to 100,000 households, especially in the Bangsamoro region.
The Philippines remained one of the fastest growing economies in Asia even after posting slightly slower growth at 6.1 percent in the third quarter, due to weaker agriculture output and ‘temporary’ decline in household spending over an inflation surge.
Manila – Google deepened its investment in the Philippines with the opening of another office in Metro Manila. Google Philippines Country Manager Ken Lingan cited this move as part of Google’s continued commitment in supporting the growth of the Philippine’s digital economy.
Economic think tank ANZ Research still forecasts another increase in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates, by 25 basis points, in December 2018 even if it turns out that domestic inflation has hit its peak in October.
During the 2019 economic outlook jointly hosted by Maybank Philippines Inc. and Maybank ATR Kim Eng in Makati City Tuesday, Dr. Chua Hak Bin, Maybank Global Thematic, Macro Economist, said the country’s rising deficit on trade and current account are risks for the economy.
In a report released Tuesday, ING Bank NV Manila Branch Senior Economist Nicholas Mapa said monetary officials remain “vigilant against any signs of second-round effects and will look to anchor inflation expectations going forward.”
Inflation in October held steady at 6.7 percent, unchanged from the previous month’s level, leading the Bangko Sentral ng Pilipinas (BSP) to state that it may have finally peaked, as the reading is further reinforced by a deceleration in heavily-weighted food items.
VoPi in September was boosted by growth in output in 11 major industries, with six industries recording double-digit growths, including textiles at 44.7 percent, petroleum products at 26.7 percent, machinery except electrical at 20.1 percent, miscellaneous manufactures at 16.5 percent, transport equipment at 16.2 percent, and non-metallic mineral products at 13.3 percent.