President Duterte’s economic team on Tuesday expressed confidence that the economy will rebound starting the second quarter with mass vaccination in full swing and government spending, especially on infrastructure, remaining strong. During the Economic Journalists’ Association of the Philippines’ (Ejap) midyear forum, Finance Secretary Carlos Dominguez III said “we might appear to be behind our…
Amid expectations of slower growth this year, the Bangko Sentral ng Pilipinas (BSP) has committed to sustain its short-term financing arrangement with the national government and assist in economic recovery, Governor Benjamin Diokno said on Friday. At the Washington-based Institute of International Finance’s (IIF) 2021 Asia-Pacific Summit, Diokno said the BSP had already released P2…
The Philippine economy is well positioned for a sharp rebound after the coronavirus pandemic, thanks to structural reforms implemented after previous crises, especially in the banking system, according to the country’s chief financial regulator. In particular, Philippine banks are strong enough to weather the downturn brought about by the COVID-19 crisis due to their sufficient…
While most other multilateral institutions had slashed their respective 2021 gross domestic product (GDP) growth forecasts for the Philippines, the Washington-based International Monetary Fund (IMF) even raised its projection to 6.9 percent from 6.6 percent previously.The IMF’s April 2021 World Economic Outlook (WEO) report also projected a 6.5-percent GDP growth next year which , however,…
The Philippine economy contracted by 9.5 percent in 2020, the country’s worst performance since World War II. Colliers believes that the successful rollout of the COVID-19 vaccine will play a crucial role in the country’s economic recovery. The government-projected economic recovery in 2021, albeit slow, will likely support the growth of the property sector. We…
The good news is that after a horrible 2020, when the coronavirus (COVID-19) pandemic wreaked havoc on the global economy, this year will be better. The Philippines is expected to exit an economic recession with the reopening of businesses and the rollout of COVID-19 vaccine to a critical mass of the population, which should shore…
MANILA, Philippines — After a nerve-wracking year marked by an unprecedented lockdown to contain a coronavirus (COVID-19) pandemic, investors are looking forward to a recovery in corporate earnings and stock prices this 2021. The main-share Philippine Stock Exchange index (PSEi) may rebound to 7,878 this year on the back of a 39.7 percent recovery in…