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Gov’t sees 2020 GDP shrinking by 6%

ECONOMIC MANAGERS now expect full-year gross domestic product (GDP) to settle at the low end of its forecast range, as the return to a strict lockdown for two weeks in August slowed the economic recovery.

Digitized small firms to boost GDP by up to P1.36 trillion...

THE DIGITIZATION of small and medium businesses (SMBs) could add up to P1.36 trillion to gross domestic product (GDP) by 2024, according to a study by multinational technology company Cisco Systems, Inc.

IMF sees less severe global contraction but worsening outlook for many...

WASHINGTON — The International Monetary Fund (IMF) on Tuesday said forecasts for the global economy were “somewhat less dire” as wealthy countries and China...

PHL GDP growth next year seen at 7.2% — MUFG

THE economy is expected to grow 7.2% in 2021 as the Philippines appears to be avoiding a resurgence of coronavirus disease 2019 (COVID-19), which is dampening the economies of other countries, according to Mitsubishi UFJ Financial Group (MUFG).

PHL budget deficit seen averaging 7.7% of GDP through 2023; fiscal...

FITCH SOLUTIONS Country Risk & Industry Research projected the national government’s budget deficit to average 7.7% of gross domestic product (GDP) as the economy slows down due to the pandemic, but noted that its fiscal position will remain intact. 

PHL stock market seen improving in 4th quarter

PHILIPPINE SHARES are expected to return to the 6,000 level in the fourth quarter, but will continue moving within a tight range unless the third-quarter gross domestic product (GDP) results surprise the market.

Security Bank sees PHL economy contracting by 7.7% in 2020, rebounding...

Security Bank’s Trust Asset Management Group expects the Philippine economy to rebound to pre-pandemic levels in three years after a possible contraction of 7.7%...

PHL GDP contraction seen at 6.5% in 2020

GROSS DOMESTIC PRODUCT (GDP) is expected to contract 6.5% this year, with the Philippines struggling to contain the coronavirus, raising the risk of further lockdowns that will pose a drag on business activity, according to Maybank Kim Eng.

Gov’t debt seen rising to 14-year high by year’s end

GENERAL GOVERNMENT (GG) debt will likely be the equivalent of 46.7% of gross domestic product (GDP) by the end of 2020, the highest level in 14 years, as the government borrows more to fund its pandemic containment measures, the Treasury said.

PHL may see worst slump in ASEAN

PHILIPPINE gross domestic product (GDP) is expected to shrink by 8% this year, the steepest projected decline among economies in Southeast Asia, according to Fitch Ratings.

PHL recovery seen V-shaped, 9.5% rise in 2021 — J.P. Morgan

THE Philippine recovery is expected to be V-shaped as the economy reopens in the second half of the year, after a record gross domestic product (GDP) contraction at the height of the lockdown, J.P. Morgan said.

GDP to fall 9.1% this year — ANZ

THE Philippine economy is set to shrink by 9.1% this year, weighed down by the fresh surge in coronavirus infections, a plunge in remittances and slow fiscal delivery, ANZ Banking Group’s research arm said on Monday.

PHL GDP could contract by 8-9% — FMIC

GROSS domestic product (GDP) in 2020 is likely to contract 8-9% due to the pandemic, positioning the economy for a rebound off a low base in 2021 with fundamentals largely intact, according to participants at a First Metro Investment Corp. (FMIC) briefing.

Downgrades issued by HSBC Research, Nomura after dismal GDP data

TWO major institutions downgraded their full-year growth forecasts for the Philippines in 2020 in the wake of the 16.5% contraction in second-quarter gross domestic product (GDP), with HSBC Research pricing in what would be a record contraction for the year of 9.6%.

‘Substantial’ fiscal stimulus needed

THE GOVERNMENT should come up with a “substantial” fiscal package to make up for the drastic drop in consumption that led to a deeper contraction in gross domestic product (GDP) in the second quarter.

1st quarter GDP drop faster than initially reported

THE PHILIPPINE ECONOMY in the first quarter declined at a faster pace than previously reported, the Philippine Statistics Authority (PSA) said a day before it announces preliminary figures for the second quarter.

Q2 GDP contraction seen deeper

THE PHILIPPINE ECONOMY is widely expected to have declined much faster in the second quarter compared with the previous quarter, according to economists.

Gov’t debt at 34.1% of GDP in 2019 vs year-earlier 34.4%

GENERAL GOVERNMENT (GG) debt as a share of the economy fell to 34.1% in 2019 from 34.4% a year earlier, the Department of Finance (DoF) said, providing a baseline for economic conditions before borrowing swelled due to the pandemic.

Gradual recovery seen to begin this month

ECONOMIC managers are hopeful the Philippines will begin its gradual recovery this month, as lockdown restrictions continue to be eased around the country.

Remittance drop seen to dent GDP by 0.4%

A POSSIBLE contraction in remittance inflows from overseas Filipino workers (OFWs) due to the pandemic this year could further bring down gross domestic product (GDP) by 0.4%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

AMRO slashes GDP growth forecast for PHL

THE ASEAN+3 Macroeconomic Research Office (AMRO) on Friday slashed its 2020 gross domestic product (GDP) growth forecast for the Philippines to 0.2%, warning that containing the virus should be the country's top priority as second wave of infections could lead to bigger toll on the economy.

Business group eyes GDP growth of as much as 7.5%

A BUSINESS chamber said the economy would probably grow by as much as 7.5% this year, thanks to continuing reforms, increased infrastructure spending and a benign inflation environment.

Education reform and the Philippine economy

As “Asia’s Rising Tiger,” the Philippines has gained a reputation for rapid economic growth that has stayed on course no matter the circumstances. Despite...

Fitch affirms Philippine debt grade but slashes growth forecast further

GLOBAL DEBT WATCHER Fitch Ratings, Inc. on Thursday affirmed the Philippines’ long-term foreign-currency issuer default rating at “BBB” — still a notch above minimum investment grade — with a “stable” outlook, meaning the rating is likely to be sustained in up to two years, but further slashed its gross domestic product (GDP) projection for the country.

Moody’s cuts 2019 PHL GDP forecast to 6%

MOODY’s Investors Service cut its Philippine economic growth forecast to 6% for this year from its previous projection of 6.2% due to the delayed approval of the 2019 General Appropriations Act (GAA), which dampened gross domestic product (GDP) growth in the first quarter.

WB pushes 4.5% of GDP infrastructure spending

DEVELOPING COUNTRIES like the Philippines should invest more to improve living conditions and contribute to global efforts against climate change, the World Bank said.

Fitch Solutions says Philippines to ‘struggle to reverse its weakening growth...

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.

Economy expands 6.1% in fourth quarter, 6.2% in 2018

THE Philippine economy posted a 6.1% gross domestic product (GDP) growth in the fourth quarter of 2018, the Philippine Statistics Authority (PSA) reported this morning.

From the Front Page: PHL to outpace China’s GDP growth

Your weekly recap of BusinessWorld news.

Fitch cuts Philippine growth forecast

FITCH Solutions has downgraded its growth forecast for the Philippines anew, noting that the economy is unlikely to bounce back to a faster pace due to tighter credit conditions and waning investor appetite.

Statistics body: GDP rebasing to wait

THE PHILIPPINE STATISTICS AUTHORITY (PSA) will hold off till 2020 the use of a new baseline for measuring economic growth.

GDP growth to miss goal, but not ‘bad’

PHILIPPINE economic growth will likely fall short of the government’s 7-8% target until next year, due to a sustained slowdown in exports and weak manufacturing, even as strong capital formation should help gross domestic product (GDP) expand in line with potentials, economists of the Ateneo de Manila University said in a briefing on Thursday.

PHL economy likely slowed in Q2 — Moody’s

PHILIPPINE economic growth may have decelerated in the second quarter weighed down by rising inflation despite robust consumption and investment, Moody’s Analytics said.

ADB maintains growth forecast for Philippines

THE ASIAN Development Bank (ADB) retained its 6.8% and 6.9% gross domestic product (GDP) forecasts for the Philippines for 2018 and 2019, respectively, in...

Tourism share of GDP hits 18-year high in 2017

THE TOURISM industry’s contribution to the economy was the highest in 18 years in 2017, the Philippine Statistics Authority (PSA) said.

Monetary Board sees inflation momentum slowing — minutes

INFLATION momentum has been easing as price spikes due to tax reform have decelerated, the central bank said as it decided to raise rates last month in order to temper future price increases.

Tourism contribution to GDP highest in 18 years

Tourism’s contribution to the Philippine economy, as measured by the share of tourism direct gross value added (TDGVA), was highest in 18 years, the...

WB cites PHL growth promise, risks

THE WORLD BANK sees the Philippines sustaining relatively robust growth in the medium term -- though short of government target -- but flagged capacity constraints and price pressures that may weigh on prospects.

Wages watched for price impact

AN UNEXPECTED increase in minimum wages could prompt the Bangko Sentral ng Pilipinas (BSP) to raise rates anew, a global bank said, even as inflation is expected to ease over the coming months.

Q2 GDP growth likely on target — Budget chief

ECONOMIC growth likely picked up this quarter to fall within the 7-8% official full-year 2018 target, the Budget chief said on Tuesday, as the Philippine Statistics Authority (PSA) reported that factory output began those three months with its biggest improvement in eight years.

BSP readies regular poll on bankers’ outlooks

THE BANGKO SENTRAL ng Pilipinas (BSP) will conduct a regular poll to get bank executives’ outlook on economic growth and business prospects.

Global economy to grow faster than expected in 2018-19 at 3.2%:...

United Nations -- The global economy is set to expand faster than expected in 2018 and 2019, the United Nations said Thursday, predicting a...

BPO sector: An economic pillar

The Department of Trade and Industry (DTI) defines business process outsourcing (BPO) as the “delegation of service-type business processes to a third-party service provider.”...

First-quarter tax collections hit fresh record high

The government's tax effort saw a substantial improvement relative to the Philippine economy in the first quarter, with collections hitting a fresh record high,...

BSP raises rates on elevated inflation and robust economic growth

The Bangko Sentral ng Pilipinas (BSP) raised rates on Thursday, May 10, marking the first tightening move in nearly four years at a time of...