REMITTANCES by overseas Filipino workers (OFWs) are expected to remain on the rise and fuel further domestic spending in the Philippines, boosted by improving economic prospects in the United States, the Hong Kong and Shanghai Banking Corp. (HSBC) said.
THE equities market, peso and the overall economy will remain resilient this year despite global market uncertainties, according to the Hong Kong and Shanghai Banking Corp. (HSBC), with the bank factoring into its projections strong remittances, foreign direct investment and robust domestic consumption.
HONG KONG and Shanghai Banking Corp. (HSBC) said it once more raised its growth forecast for the Philippines, with strong government spending expected to prop up further expansion during the second half of the year, helping offset the fading impact of election spending and slowing growth in fund inflows.