ABS-CBN News, Dec 27 2016
MANILA – The peso could weaken to P51 to the dollar next year and P55 in 2018, as policy tightening in the US drives funds out of emerging markets like the Philippines, UBS said.
The peso touched the P50-per dollar level twice in the last two months. It weakened to P49.835 in intra-day trading Tuesday.
“We look for USDPHP (Philippine peso) at 51 in 2017 and 55 in 2018,” UBS said in a research note, citing a sharp deterioration in the current account over the last four quarters.
Economic growth is also expected to slow in 2017 due to the lack of election spending that caused gross domestic product to expand by as much as 7.1 percent this year, UBS said in a research note.
UBS said the economy could grow by 5.6 percent next year and 6 percent in 2018.
Anticipating delays, UBS said a boost from planned record spending on infrastructure would not be felt until 2018.
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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