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(Eagle News) — Because of the slowdown in the global economy and Philippine domestic investment, Asian Development Bank (ADB) has revised the country’s economic growth this year to 6 percent, down from the previous forecast of 6.4 percent. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2019, ADB revised its forecast for Philippine gross domestic product (GDP) growth to 6.0% in 2019 and 6.2% in 2020, against its previous […]
(Eagle News)—The Palace on Thursday, May 9, said the future “looks bright” for the Philippines despite the country’s Gross Domestic Product growth slowdown in the first quarter of 2019. In a statement, Presidential Spokesperson Salvador Panelo said the 5.6 percent Gross Domestic Product growth, a four-year low, was caused by the budget impasse which “has now been resolved.” He added the slowdown was also due to a “nearly flat agriculture output posting 0.8 percent, which […]
(Eagle News)–The country’s gross domestic product growth slowed to 5.6 percent in the first quarter of 2019, the Philippine Statistics Authority said on Thursday, May 9. The PSA said this was slower than the 6.5 percent growth recorded in the first quarter of 2018. According to the PSA, trade and repair of motor vehicles, motorcycles, personal and household goods; manufacturing; and financial intermediation were the main drivers of growth for the quarter. Services, the PSA […]
(Eagle News) — The Philippine economy posted a growth of 6.6 percent in the fourth quarter of 2017, the Philippine Statistics Authority reported on Tuesday. In a press conference, National Statistician Lisa Grace S. Bersales said that the gross domestic product was driven primarily by the industry sector, which posted a growth of 7.3 percent in October to December. With the 6.6 percent growth in the fourth quarter of last year, the Philippine economy posted a […]
(Eagle News) — The Philippines will continue to be the “fastest-growing economy” in the Association of Southeast Asian Nations in the next three years. This is according to the World Bank’s January 2018 Global Economic Prospects report released on Wednesday. According to the WB, the country’s Gross Domestic Product was expected to grow 6.7 percent in 2018 and 2019. In 2020, the growth rate is expected to be 6.5 percent. The WB said the forecast […]
(Eagle News) — The International Monetary Fund’s outlook for the Philippine economy remains “favorable despite external headwinds.” In a statement, the IMF predicted the country’s Gross Domestic Product growth at 6.6 percent for 2017 and 6.7 percent for 2018. It said this was “owing to continued robust domestic demand.” “Inflation is expected to stay near the center of the (Bangko Sentral ng Pilpinas’) target band due to stable commodity prices and well-anchored inflation expectations. The current […]
(Eagle News) — The Asian Development Bank forecast a “strong growth” for the Philippine economy for 2017 and 2018, with inflation predicted to pick up, and current account expected to post a surplus. The Manila-based lender pegged Gross Domestic Product growth for 2017 at 6.4 percent, and for 2018 at 6.6 percent. In 2016, ADB said the Philippine economy posted a 6.8-percent growth, buoyed by domestic demand. It said in that same year, private consumption […]
MANILA, Dec. 1 – The Gross Domestic Product (GDP) grew year-on-year by 7.1 percent in the third quarter of 2016. This growth is driven by Manufacturing, Trade, and Real Estate, Renting and Other Business Activities. This is higher than the growth rates of 7.0 percent in the second quarter of 2016 and 6.2 percent in the third quarter of 2015. Among the major sectors, Services posted a growth of 6.9 percent in the third quarter of 2016, lower than the 7.2 percent growth in the previous […]
QUEZON CITY, Philippines (Eagle News) — The abolition of the end-of-contract system will have positive effects in the gross domestic product (GDP) of the Philippines. According to Albay Representative Joey Salceda, the economy will be stronger when “endo” is finally abolished with the country’s growth rate possibly reaching 12%.
According to Presidential Communications Secretary Sonny Coloma, the Malacañang welcomes the report of the National Economic Development Authority which indicated that the country’s economy experienced a 6% growth in its gross domestic product or GDP in the third quarter of 2015. Coloma added that said growth is due to the more effective budget spending in development projects. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos)
