Economy in Philippines
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PHILIPPINES, 2016/09/30
The Philippines topped the recent statement entitled "Increase Outlook of ASEAN Economies to Diverge in 2016 and 2017." The Philippines is expected to grow faster than its neighbor economies for this year and the next. The country's GDP is expected to grow by 6% at the least as per Moody’s.
This upward shift in economic performance is projected to have a direct result on the property sector. With an increased ability for development and investment , it is expected that it will be highly favorable for companies to expand their efforts across the country and equally as favorable for consumers as additional real estate options, from home and lot properties to condominiums for sale become available.
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PHILIPPINES, 2016/07/05
The services sector dominates the Philippine economy. In 2015, it accounted for 59 % of GDP and 54.5 % of employment. In recent years the industry sector — which includes manufacturing and construction — has started to recover, growing faster than services. But given its size, the services sector remains the key driver of the economy contributing additional to GDP increase than all other sectors combined.
The services sector consists of a wide range of industries with varying capital and skill intensities. Although retail trade continues to lead in terms of size, the rise of business activities as the next biggest industry illustrates the importance of data technology and business process management (IT-BPM) as the new source of dynamism in the economy. The Philippines’ comparative chance in these activities explains the significant development in commercial services exports from 47th in 2005 to 34th major in the world in 2015.
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AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
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BRUNEI , 2015/11/18
Increase among the 21 Asia-Pacific Economic Cooperation (APEC) economies softened to 3.1 % in the second quarter of 2015, down from 3.2 % in the initial quarter and 3.4 % a year ago, according to an APEC economic analysis released on Tuesday.
The statement said the increase slowdown reflected the prolonged weakness in world economic activity as the modest recovery in advanced economies was matched by a general slowdown in emerging market economies.
The moderation in GDP levels could be attributed to declining investments and lacklustre exports, according to the statement.
"Economies across the Asia-Pacific continue to grow but find themselves in a holding pattern of lower increase in the absence of high trade volumes," said Alan Bollard, Executive Director of the APEC Secretariat.
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AFGHANISTAN, 2015/01/20
Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday.
In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
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PHILIPPINES, 2013/11/28
Philippine economic increase eased additional than expected to reach the weakest level in additional than a year in the third quarter, data from the National Statistical Coordination Board showed Thursday, with economists predicting further slowdown in increase this quarter in the wake of the deadly Typhoon Haiyan.
The gross domestic product expanded 7 % year-on-year in the third quarter, the weakest pace since the third quarter of 2012. This followed an upwardly revised 7.6 % increase in the second quarter. Economists expected increase to slow to 7.1 %.
Typhoon Haiyan ripped through the country on November 8. The UN Office for the Coordination of Humanitarian Affairs (OCHA) rates it the biggest typhoon recorded in almost a century, affecting nearly 11 million people, with an estimated 600,000 displaced.
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PHILIPPINES, 2013/10/11
The country’s chief economic planner said he expects the Philippine economy to expand by over seven % in the third quarter of 2013, remaining on course to close the year well above seven %.
Socioeconomic Planning secretary and National Economic and Development Authority (NEDA) director general Arsenio Balisacan expressed confidence on the sustained strong performance of the economy despite the number of natural disasters that occurred in the July to September period.
“For the third quarter, it is likely to be above seven (%). The typhoon and floods (will have an impact), but maybe marginal,” he said.
The economy, as measured by the gross domestic product (GDP), gain 7. 5 % in the second quarter, the fourth consecutive quarter of over seven % increase.
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PHILIPPINES, 2013/08/30
The Philippine economy expanded additional than expected in the second quarter, supported by the country's resilient service sector, government data showed Thursday. However, the pace of increase was weaker than that in the preceding quarter.
The gross domestic product grew 7.5 % year-on-year in the second quarter, the National Statistical Coordination Board said. Economists expected a weaker increase of 7.2 %.
Nevertheless, the increase slowed from March quarter's downwardly revised 7.7 % expansion amid lackluster foreign trade.
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PHILIPPINES, 2013/02/14
Philippine government economic managers yesterday expressed confidence in the government’s achieving investment -grade credit rating this year as they further advance reforms and what they described as mounting investor confidence in the country.
“There is very little doubt that the country will any minute at this time reach investment grade,” Budget Secretary Florencio B. Abad said. The government’s economic team yesterday held at the Philippine International Convention centre in Pasay City a yearend economic briefing for the country’s performance in 2012.
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PHILIPPINES, 2013/01/17
Factors contributing to the higher than expected GDP figures include sustained consumption; increased increase of the private sector in real estate development and construction supported by low interest rates; a better business outlook for infrastructure investment and additional electric generating capacities; and increased government repair, maintenance and improvements to existing roadways and bridges.
