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Philippine economy at risk of overheating, World Bank says

By Audrey Morallo/philstar.com – Although the Philippine economy is one of the top three growth performers in the region, it faces several domestic risks such as overheating, higher inflation and climbing fiscal deficits, the World Bank warned on Monday. In its Philippines Economic Update, the World Bank said that the Read more ».....»»

Category: newsSource: thepinoy thepinoyApr 16th, 2018

[OPINION] Is the Philippine economy overheating?

A number of economists here and abroad have warned that the Philippine economy might already be "overheating." For example, the IMF (International Monetary Fund), the World Bank , the AMRO (ASEAN+3 Macroeconomic Research Office), and Fitch have all cautioned us against “early ........»»

Category: newsSource:  rapplerRelated NewsSep 28th, 2018

World Bank says Philippine human capital investments to counter overheating

The Philippines needs more investments in infrastructure and human capital, particularly upgrading the skill sets of workers for higher-paying jobs to be able to counter risks of an overheating economy, the World Bank Group said......»»

Category: financeSource:  philstarRelated NewsApr 18th, 2018

World Bank expects Philippine economy to maintain growth in 2018, 2019

The World Bank expects the Philippine economy to "maintain" its growth rate in 2018 and 2019, adding that the country’s central bank should stay alert and ready to tighten monetary policy settings amid risks of an overheating economy......»»

Category: financeSource:  philstarRelated NewsApr 12th, 2018

Global trade and the Philippine economy

Much talk has been made recently about rising trade tensions putting a hamper on global economic growth among businessmen and financial experts. Releasing a report in July, the World Trade Organization (WTO) recognized the international economic threats posed by trade restrictions among the G20, an international forum for the governments and central bank governors from […].....»»

Category: financeSource:  bworldonlineRelated NewsNov 28th, 2018

Working Abroad as Domestic Helpers Should Become a Thing of the Past

For decades the Philippine economy has been kept afloat by millions of overseas Filipino workers (OFWs) sending money back home. According to philstar.com in an article published early this year, the World Bank ranked the Philippines as the “3rd top remittance receiving country in the world” after India (first), and China (second) ........»»

Category: newsSource:  philnewsRelated NewsOct 17th, 2018

World Bank downgrades 2018 Philippine economic outlook

MANILA, Philippines – The World Bank downgraded the Philippines’ economic outlook for 2018 to 6.5% from 6.7%, but projected the economy to remain robust in the coming years. According to the latest Philippines Economic Update (PEU), the economy is seen to grow at 6.7% ........»»

Category: newsSource:  rapplerRelated NewsOct 4th, 2018

World Bank cites dev’t tasks ahead for PHL

THE PHILIPPINE economy needs to grow at least 6.5% annually if it is to turn “into a prosperous middle-class society free of poverty by 2040,” the World Bank said on Monday, describing this goal as challenging but attainable. The post World Bank cites dev’t tasks ahead for PHL appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsSep 25th, 2018

Current account gap hits $3.1B

The Philippine economy spent substantially more than what it earned through foreign trade in the first half of 2018, with the resulting currency outflows further depressing the value of the peso against the US dollar. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the country's current account posted a deficit of $3.1 billion in the first six months of the year. This was markedly higher than the $133-million deficit recorded in the same period in 2017. At this level, the current account---which tallies the country's trade surplus of gap with the rest of the world---already hit the $3.1-billion full year target of the central bank only halfway into 2018. "This outcome...Keep on reading: Current account gap hits $3.1B.....»»

Category: newsSource:  inquirerRelated NewsSep 15th, 2018

H1 dollar outflows now more than double BSP’s forecast for entire 2018

With only six months worth of international transactions having been tallied to date, the central bank announced yesterday that the cumulative dollar outflows from the Philippine economy have already exceeded its full year forecast by more than 100 percent. In a statement, the Bangko Sentral ng Pilipinas said that the country's balance of payments---the aggregate net value of all transactions for goods and services with the rest of the world ---had already reached a deficit of $3.26 billion for January to June. This is 117 percent higher than the $1.5-billion balance of payments (BOP) deficit the monetary agency is forecasting for the entire year, and 361 percent higher than the $7...Keep on reading: H1 dollar outflows now more than double BSP’s forecast for entire 2018.....»»

Category: newsSource:  inquirerRelated NewsJul 20th, 2018

World Bank maintains two-year growth forecasts for PH at 6.7%

Despite external shocks, the World Bank is keeping its growth forecasts for the Philippines of 6.7 percent for both this year and next year on the back of robust government spending, especially on infrastructure.   In a statement on Friday, the Washington-based multilateral lender said it was keeping its gross domestic product (GDP) growth projections for the Philippines for 2018 and 2019 "despite rising global uncertainty."   Its forecasts, however, were below the government's target range of 7-8 percent yearly growth from 2018 to 2022.   The Philippine economy grew by 6.7 percent last year, which was among the fastest across emerging Asian economies. ...Keep on reading: World Bank maintains two-year growth forecasts for PH at 6.7%.....»»

Category: newsSource:  inquirerRelated NewsJul 13th, 2018

WB maintains Philippine growth forecast

THE World Bank sees stronger growth during the second half of 2018 on the back of stronger public spending, with the Philippine economy expected to sustain its pace despite global headwinds......»»

Category: financeSource:  bworldonlineRelated NewsJul 13th, 2018

World Bank keeps below-target forecast for Philippine economy

The World Bank on Friday retained its growth projections for the Philippine economy that, if realized, will miss the government’s target......»»

Category: newsSource:  philstarRelated NewsJul 13th, 2018

WB sees PH GDP growing 6.7% in 2018-2019 ‘despite rising global uncertainty’

Despite external shocks, the World Bankon Fridaysaid it kept its growth forecasts for the Philippines of 6.7 percent for both this year and next year on the back of robust government spending, especially on infrastructure. In a statement, the Washington-based multilateral lender said it maintained its gross domestic product (GDP) growth projections for the Philippines for the years 2018 and 2019 "despite rising global uncertainty." The World Bank's forecasts were nonetheless below the government's target range of 7-8 percent growth yearly starting this year until 2022. The Philippine economy grew 6.7 percent last year, among the fastest across emerging Asian economies. Revise...Keep on reading: WB sees PH GDP growing 6.7% in 2018-2019 ‘despite rising global uncertainty’.....»»

Category: newsSource:  inquirerRelated NewsJul 13th, 2018

World Bank retains below-target forecast for Philippine economy

The World Bank has kept its growth forecast for the Philippine economy that, if realized, will fall below the government’s target for the next few years......»»

Category: financeSource:  philstarRelated NewsJun 6th, 2018

S& P sees temporary inflation rise; no overheating risks

The sharp rise of commodity prices is likely temporary, S&P Global Ratings said, as it also doused fears that the Philippine economy may be at risk of expanding at an unsustainable rate......»»

Category: financeSource:  philstarRelated NewsMay 25th, 2018

Nomura sees oil prices pressuring trade, current account deficits

By Melissa Luz T. Lopez Senior Reporter A SUSTAINED pickup in world crude prices will likely trigger a wider current account deficit for the Philippines and put additional pressure on domestic prices, Nomura Global Research said. Analysts from the Japanese bank said rising oil prices would have a substantial impact on the Philippine economy, and […] The post Nomura sees oil prices pressuring trade, current account deficits appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 1st, 2018

Philippine economy: DC talk of the town

Following the successful International Monetary Fund (IMF) and the World Bank Group (WBG) Spring Meetings in Washington, D.C. that gathered bankers, finance ministers, businessmen as well as representatives from civil society organizations, a main topic of conversation now among US business groups is the Philippines – the fastest growing economy in Southeast Asia and the second fastest in the world after India......»»

Category: newsSource:  philstarRelated NewsApr 28th, 2018

BSP chief flags trade row risk

A TRADE ROW between the United States and China will limit growth opportunities for the Philippines and the global economy, the central bank chief said on Monday, even as the Trade secretary cited efforts to further diversify markets for Philippine goods. Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said it is “too […] The post BSP chief flags trade row risk appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 23rd, 2018

Shares outlook for the week: Market ‘correction mode’ to continue

Share prices could fall further this week with earnings season yet to heat up and investors expected to continue worrying over the economy and policy rate hikes. “I think the [stock market]will continue to be in a correction mode considering … reports of overheating by the World Bank,” Diversified Securities, Inc. equity trader Aniceto Pangan [...] The post Shares outlook for the week: Market ‘correction mode’ to continue appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsApr 23rd, 2018

Pernia: Philippines can exceed World Bank s growth estimates

An economic manager of the Philippine government said the country could surpass the latest growth forecast made by the World Bank, which expects the country’s economy to grow flat in 2018 and next year......»»

Category: financeSource:  philstarRelated NewsApr 13th, 2018