Jul 072017
Dutch banking giant ING bullish on the PHL economy

Netherlands-based global financial giant ING has projected a positive growth rate for the Philippines under the 6-year term of the Duterte administration. Philippine Stock Exchange [via Business World Online] ING Philippines economist Joey Cuyegkeng in a client briefing said he foresees a 6.5 percent gross domestic product (GDP) growth rate until the year 2022 even if the country is placed on “autopilot.” The senior economist said in a forum that “A 6- to 6.5-percent growth rate is feasible even without any new reforms,” according to an Inquirer report by Doris Dumlao-Abadilla. Cuyegkeng is also reported by Manila Standard as saying the positive GDP rate is driven by investments, higher fiscal spending, and robust domestic demand. The Philippine economy is in a “sweet spot of relatively fast growth and low to moderate inflation” with growth drivers now expanding to include agriculture and industry services. The ING experts also project growth by 8.1 percent for the industrial sector, and 3 percent for the farm sector. The service sector is seen to keep its growth rate at the 6.6 percent.   The post Dutch banking giant ING bullish on the PHL economy appeared first on Good News Pilipinas. Related posts: Makati Business Club remains bullish on PH economy PHL posts strongest economic growth in Asia at 7.1% PHL is Asia’s fastest growing economy in 1st Qtr 2016 Japan’s Nomura upgrades PHL economic growth

May 102017
Japan’s Nomura upgrades PHL economic growth

The Philippines’ economic growth forecast for the years 2017 and 2018 has been upgraded in the latest Nomura Securities report. [via Reuters] The Nomura report “Philippines: Catching Up” released in April notes the country’s Gross Domestic Product (GDP) growing to 6.7 %, compared to the previous year’s 6.3%. Nomura economist Euben Paracuelles revealed that the Philippines’ significant growth is faster than other Asian peers such as Indonesia (5.6 percent), Malaysia (4.8 percent), Thailand (3.4 percent), and Singapore (2.5 percent), according to a report published by Stock Signals Philippines. The global investment bank says the country’s current GDP is improved by first quarter merchandise exports, specifically, that of electronic exports, which picked up demand from principal trading partners. Paracuelles further explains that the catching up refers to the electronic exports whose growth increased to 10.4 percent year-on- year, after a last quarter 2016 decline of 1.9 percent. Electronics shipments from the country jumped to 15.9% in February, credited to surge of export volumes, while other ASEAN countries maintained price restraints. The Nomura economic analyst added that the Philippines remains “relatively protected from risks of slowdown because it is accounted for in the 26.5 percent of GDP in exports of goods and services. Plus, the domestic demand remains stronger than ever.” Nomura believes that the Philippine “economy will remain resilient as the central powers of growth – investment spending and private consumption – continue to prosper.”   The post Japan’s Nomura upgrades PHL economic growth appeared first on Good News Pilipinas. Related posts: PHL Read More …