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FITCH Solutions Country Risk & Industry Research has downgraded its growth forecast for the Philippine construction industry, noting that projects under the “Build, Build, Build,” program will likely be delayed following the reduced budget for infrastructure this year.
THE GROWTH of the construction industry is expected to slow to 3.6% as most activity is concentrated in areas affected by the enhanced community quarantine (ECQ), a report said.
FITCH Solutions Macro Research warned of a “high degree of political risk” in long-term contracts for public-private partnership (PPP) projects even with the government recently adopting a policy favorable to PPPs.
A WIDER COVID-19 quarantine and more restrictive lending conditions worldwide pose the main risks to the Philippine economy, threatening to bring growth to their lowest levels since 2011, Fitch Solutions Macro Research said.
THE construction industry is expected to grow 9.4% this year, remaining one of the fastest-growing markets in Southest Asia, according Fitch Solutions Macro Research.
THE COUNTRY’S economic outlook and the peso’s stability will be the key deciding factors for the Bangko Sentral ng Pilipinas (BSP) in further cutting its policy rates and reducing banks’ reserve requirement, think tank Fitch Solutions said in an analysis.
ECONOMIC GROWTH will likely ease further this year in the face of heightened global trade tensions and “deteriorating” business conditions, Fitch Solutions Macro Research said following the release of disappointing official 2018 data.