Here comes the son

PHILIPPINES - Forecast 31 May 2022 by Romeo Bernardo and Christine Tang

A new administration with an exceptional majority electoral mandate will take office on June 30. So far, it has handed the business community what it wanted, a knowledgeable and experienced economic team that could hit the ground running. This is enough for even those strongly opposed to the son of former dictator Ferdinand Marcos to give the president-elect the benefit of the doubt. A challenging global economic and financial environment as well as reduced macroeconomic policy headroom await the new administration. We expect economic growth this year to reach 6.8%, helped by receding pandemic fears and improved mobility, expectations of a broader recovery in economic activity and one-off election spending. We are keeping our 2023 5.5% growth outlook for now given the many uncertainties here and abroad and pending clearer demonstration of the executive’s ability to build on and implement recent reforms.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This forecast is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This forecast is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this forecast or its contents.