Projections

Dr. Bernardo Villegas, one of the high priests of dead-end economics, on March 24 pronounced himself “more bullish than the government in forecasting a GDP growth of 6 to 7 percent for 2012” (Manila Times, “Geared toward faster growth”).

MANILA, Philippines – Zurich-based Credit Suisse Group hiked anew its economic growth forecast for the Philippines, this time raising next year’s gross domestic product (GDP) growth on the back of improved political stability and the take off of the government’s major infrastructure program.

UBS Investment Research projects Philippine economic growth at 3.3 percent in 2012 and will further grow to 4.7 percent in 2013. Paul Donovan, UBS deputy head of global economics, said the 2012 projection is still below the considered good growth level of 3.7 percent and .3 percent is lower than general indications/consensus.

THE Philippine economy is poised for sustained and rapid inclusive growth with a trusted, credible and committed political leadership under President Aquino, an official of the Department of Trade and Industry (DTI) said.

THE GOVERNMENT’S 5-6% growth goal for this year will likely be achieved on the back of robust demand and increased spending, a Senate think tank said, notwithstanding challenges posed by continued global volatility. “[The] outlook for 2012 is relatively sanguine,” the Senate Economic Planning Office (SEPO) said in March report, noting that underspending had resulted…

MANILA, Philippines – After easing to its lowest level in 29 months, the Bangko Sentral ng Pilipinas (BSP) sees inflation rising due to soaring oil prices, higher food prices, and the continued weakening of the peso against the US dollar.

All elements are in place, says former NEDA chief For the Philippines, 2012 does not mean the end of the world as predicted by the ancient Mayans, but could instead herald the beginning of a much-awaited economic takeoff, according to former Socioeconomic Planning Secretary Cielito Habito.

Expansion of the domestic economy is expected to rise in the first half of the year, a central bank official said citing results of the first quarter 2012 Business Expectations Survey (BES).

GUARDED OPTIMISM: The Bangko Sentral ng Pilipinas enters 2012 with guarded optimism even while other countries grapple with their own economic difficulties.

The Philippine economy can possibly grow by 7 percent to 10 percent in the next 10 years, a leading economist said in a forum on Wednesday. In his speech during the Asia CEO Forum held at the The Peninisula Manila Hotel in Makati City, Dr. Bernardo Villegas said that the Philippine economy is reaching its…

Following the drop in inflation rate to 3.9 percent last month, the National Economic and Development Authority (Neda) expects commodities price level to settle within the Philippine Development Plan 2011 to 2016 target of three to five percent for 2012, using the 2000-based Consumer Price Index (CPI) series.

MANILA — The Philippine economy is projected to grow more than 4.6 percent in the first quarter of the year mostly because of the increased government spending, the National Economic and Development Authority (NEDA) said Wednesday.

Legazpi City—Albay Governor Joel Salceda said the economy will post a 5.7 percent growth rate in the first quarter, a leap from the 3.7% level last year which was less than half of 2010’s 7.6%.

MANILA, Philippines – Private economists further slashed their inflation forecast for the Philippines this year and next on the back of fragile global economic growth due to weaker than expected expansion in advanced economies led by the US and Europe, a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.

MANILA, Philippines – The Philippine government failed to meet the foreign direct investment (FDI) target set by the Joint Foreign Chambers (JFC) in their Arangkada Philippines roadmap last year.

MANILA, Philippines – As it forecast Philippine growth at 4.8 percent this year, the Asian Development Bank (ADB) gave some advice on how the country can address the challenges that a global downturn may bring.

The National Statistical Coordination Board (NSCB) expects a positive outlook for the Philippine economy this year as its composite leading economic index (LEI) continued to improve.

The Trade Department is keeping an exports target of $80.2 billion this year despite the drop in shipments in 2011 and the possible impact of a bill in the US Congress on the business process outsourcing industry in the Philippines.

The Middle East and Asia could hire at least 1.5m highly-skilled Filipino workers in 2012, according to Philippines Labour Undersecretary Danilo Cruz.

MANILA, Philippines – As many as four million local and overseas jobs will become available for Filipino jobseekers this year, the Department of Labor and Employment (DOLE) said yesterday.

THE numbers say it all. By the count of The Conference Board, a high-powered New York-based grouping of leading companies and experts from around the world, the contribution of developing economies to the 3.2-percent global growth projected next year would be more than four times that of rich countries: 2.5 vs. 0.6 percentage points.

The Aquino administration gave a lofty seven percent economic growth target for this year despite failing to achieve a five percent goal for last year as the estimate for growth for the whole year will be lower than 4.5 percent.

NEWS ANALYSIS MANILA: Economic managers of the Philippine government have said that the country’s gross domestic product ( GDP) would grow by 5 to 6 percent this year despite uncertainties in the global economy.

Another global recession could cut gross domestic product growth in the Philippines to 1 percent in 2012, similar to its economic performance in 2009, the World Bank warned Tuesday.

MANILA, Philippines – Multilateral lender International Monetary Fund (IMF) yesterday slashed anew the economic growth forecasts and the inflation projections for the Philippines this year.

THE Asian Development Bank on Tuesday cut its growth forecast for the Philippines’ gross domestic product to 3.7 percent this year from 4.7 percent earlier as a result of the global economic downturn.

Remittance flows to developing countries are expected to total $351 billion this year, and worldwide remittances, including those to high-income countries, will reach $406 billion for the current calendar year, according to a newly updated World Bank brief on global migration and remittances.

MANILA, Philippines – Philippine Overseas Employment Administration (POEA) Administrator Carlos Cao said total remittances by Overseas Filipino Workers (OFWs) is likely to exceed the P20.1-billion target for 2011.

MANILA, Philippines – Merchandise exports are still expected to grow this year although at a much lower rate of only three percent from the original target of 10 percent , the Department of Trade and Industry (DTI) reported yesterday.

MANILA, Philippines – The Hongkong and Shanghai Banking Corp. (HSBC) forecasts the Philippine economy to grow by 4.8 percent in 2012 and by 4.6 percent in 2013.