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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

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

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

WB sees PHL sustaining growth pace

By Elijah Joseph C. Tubayan Reporter THE WORLD Bank sees the Philippines sustaining last year’s economic growth pace well into 2019, but said much depends on “timely” government spending on infrastructure as well as a close watch on rising inflation pressures and the risk of overheating. The World Bank’s East Asia and Pacific Economic Update […] The post WB sees PHL sustaining growth pace appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 13th, 2018

World Bank sees 6.7% PH growth

The World Bank sees the Philippine economy growing by 6.7 percent this year and next, similar to the pace of expansion last year, amid expectations of strong growth prospects across the region. In its East Asia and Pacific Economic Update April 2018 report titled "Enhancing Potential" released on Thursday, the World Bank kept its growth forecasts for the Philippines for 2018 and 2019 while projecting a slightly slower 6.6-percent expansion in 2020. The World Bank's gross domestic product growth projections for the next three years fell below the government's 7-8 percent target range until 2022. "Any growth above 6.7 percent would require vigorous investment in physical and human...Keep on reading: World Bank sees 6.7% PH growth.....»»

Category: newsSource:  inquirerRelated NewsApr 12th, 2018

World Bank expects stable 6.7% growth for PH in 2018, 2019

MANILA, Philippines – The World Bank Group expects the Philippine economy to continue growing at its current trajectory in the short-term, with strong public investment needed to raise that figure. The multilateral lender maintained its projected 6.7%  gross domestic product (GDP) growth for the country in 2018, while predicting the ........»»

Category: newsSource:  rapplerRelated NewsApr 12th, 2018

Sustained 6.7% growth forecast by World Bank

Stronger expansion tied to investments, ‘Build Build Build’ The World Bank expects the Philippine economy to keep growing by 6.7 percent this year and the next, with any acceleration to depend on robust investments and the success of the government’s ‘Build Build Build’ program. The projection — below the government’s 7.0-8.0 percent target range for [...] The post Sustained 6.7% growth forecast by World Bank appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsApr 12th, 2018

‘Grand Deception’ by Jun Ledesma

Letters From Davao: WHEN RAPPLER through its President, Maria Ressa, was caught trifling with an important tenet in the Philippine constitution that mandates that Philippine media should be 100% owned by Filipinos the Securities and Exchange Commission ordered it closed. Rappler was parading like it is wholly owned by Filipinos but turned out it accepted investment from Omidyar Network (ON) which is known for its notoriety in destabilizing heads of state that are not docile to America. It tried deception by claiming that the Philippine Deposit Receipts it issued to ON money was for philanthropic contribution. The attempt dragged them deeper in shit as PDRs are actually commercial instruments. When this trick did not work, Ressa again tried another act this time claiming that Omidyar signed a waiver on its veto power. Again this did not pass scrutiny of the SEC because the said waiver was discovered to be just a scrap of paper as the document was not notarized.  Running out of deceptive tricks Ma. Ressa went berserk when she was served the closure order and went about town crying her freedom is being curtailed by Pres. Rodrigo Duterte no less. Her partner Pia Ranada did the same screaming she will be jailed by Duterte’s military. The grandstanding, it was obvious, was to stonewall the criminal violation they committed and to paint Rappler and its staff headed by Ressa as victims of oppression and dictatorial regime of Duterte. Contrary to its claim that they have lost their freedom of expression, more than ever Rappler had increased the crescendo of its unfettered attack on no less than the President Duterte himself. Ressa spearheaded a Black Friday movement supported by a handful of students from where else by the University of the Philippines campus and the usual garrulous but moribund Liberal Party stalwarts headed by VP Leni Robredo. They were joined in by UN Rapporteur Agnes Callamard and her local counterpart Chito Gascon in denouncing the Duterte government for curtailing the freedom of the press. Other foreign-funded media outfits joined the fray for obvious reason.  Theirs is a cacophony of ridiculous chants. Robredo warned that the closure of Rappler is a symptom of a dark future of the country. The juvenile delinquents in the UP campus joined pipsqueak assemblies with screaming placards denouncing Pres. Duterte and his “malignant forces that continue to peddle lies to justify their tyranny and dictatorship”.  They cut classes to face the TV cameras and klieg lights unmindful of yet another spectacular grade the survey firms Social Weather Station and Pulse Asia showing an “excellent” grade on the sustained trust and popularity of the nation on Duterte which they had been flagellating no end.  No one seems to mind their issue about tyranny and dictatorship as the World Bank grudgingly declared that “DDS killed democracy in the Philippines but they haven’t killed the country’s vibrant economy”.  Forbes, an international business magazine, likewise quoted WB on its Global Economic Prospects, which asserts that “Duterte Philippines is the 10th fastest growing economy in the world”.  The statistics is a slap on the face of VP Robredo who remains to be an incurable pessimist despite the figures that cannot lie. She continues to see the future of the Philippines in dark glasses forgetting that she is a Vice President and therefore should have celebrated with the rest for the gains that the country achieved. For her part, Maria Ressa simply ignored what Forbes and WB declared.  Maybe out of outrage that the Robredo seemed to be out of sync and blinded by sheer politicking and negativism, UP Political Science professor and political analyst, Clarita Carlos,  made a five-worded message to The Vice President thus: “President Duterte moves the Philippines forward”. To those who denigrate Duterte from cutting the country’s umbilical cord to America, Professor Carlos had this to say. “Duterte has moved the Philippines away from the usual foreign policy and in turn ‘defined national interest’ by tracking his own way of foreign policy”. She admired Duterte for his political guts and courage.  It is indeed pathetic that while the Philippines rise several notches higher in political and economic arena the opposition and the foreign-aided media outfits shamelessly continue to belittle these achievements. It is no small feat that Philippines came out stronger in economic growth than China in the 3rd quarter of 2017. On the 4th quarter moreover China rallied (6.9%) and landed on top of Asian countries followed by Vietnam (6.8) and Philippines 6.7%. The Philippines however has been growing more than 6% for nine consecutive quarters and that sustained growth is best among Asean nations. Any which way you look at it, that spells economic stability and investment grade for investors service firms like Moody’s and other international credit rating institutions. Cause and effect is a simple gauge to measure the impact of the tyranny and dictatorial regime that Rappler and its sympathizers have been accusing the Duterte regime. But as I always say, no one can quarrel with success especially when institutions of unquestionable stature put the positive figures across. Expect the economy to grow even faster in 2018 when infrastructure spending commences under the Duterte’s Build, Build, Build program. As we all know, the government had earmarked P8.4-trillion to achieve the mega infrastructure projects comprising of railways, highways and bridges, irrigation’s, airports and seaports to name a few. The job opportunities that these programs will generate are equally mind-boggling. […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsFeb 1st, 2018