Investors are on a rollercoaster ride as the spread of the COVID-19 widens globally. Looking to the future, the Philippines government is seeking to support and stimulate the nation’s economy.
With one of the fastest growth rates in Asia, good news on the job front, plus lower than expected inflation in September, the Philippines economy approaches the year’s end in good condition.
The second half of 2019 should see the Philippines economy regaining momentum as increased government spending, combined with the possibility of further central bank rate cuts, look set to tempt investors back in.
With the nation’s May election process finalised, the 2019 national government budget passed the post, and a policy rate cut, the Philippines economy now looks set to meet an official economic forecast of GDP growth at around 6.5%.
The third quarter of 2018 encompassed some tough times for the Philippines as the nation coped with rising inflation and the devastating after-effects of Typhoon Mangkhut.
Despite strong investment spending, the Philippine’ GDP growth rate dipped in the second quarter of 2018, with inflation peaking at a 10-year high at 5.7%.
First Metro Investment Corporation – UA&P Capital Markets’ latest research indicates the Philippine’s GDP looks set to forge ahead building on first quarter gains.
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