Projections

by Ben O. de Vera, Philippine Daily Inquirer, 13 Oct 2020 MANILA, Philippines—The Philippines is seen shedding 8.3 percent off its economy this year, considered as the biggest annual gross domestic product (GDP) drop in history, as the COVID-19 pandemic battered consumer confidence and private investments through prolonged community quarantine measures, according to the International…

by Agence France-Presse, 13 Oct 2020 Washington, United States — The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent and the pandemic means the outlook remains uncertain, the IMF said Tuesday.

by Agence France-Presse, 13 Oct 2020 Washington, United States — The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent and the pandemic means the outlook remains uncertain, the IMF said Tuesday.

by Philippine Daily Inquirer, 10 Oct 2020 The Washington-based Institute of International Finance (IIF) has downgraded its 2020 and 2021 gross domestic product (GDP) projections for the Philippines due to the country’s slow COVID-19 containment.

by Ben O. de Vera, Philippine Daily Inquirer, 10 Oct 2020 The Washington-based Institute of International Finance (IIF) has downgraded its 2020 and 2021 gross domestic product (GDP) projections for the Philippines due to the country’s slow COVID-19 containment.

by Lawrence Agcaoili (The Philippine Star), 6 Oct 2020 MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is now expecting a deeper gross domestic product (GDP) contraction of seven to nine percent this year as the economy stalled due to containment measures to slow the spread of COVID-19.

The Straits Times/Asia News Network, 30 Sep 2020 WASHINGTON — Poverty in East Asia and the Pacific could increase this year for the first time in 20 years as the coronavirus pandemic keeps people in poverty and creates a class of new poor, the World Bank said on Tuesday (Sept 29).

By Melissa Luz Lopez, CNN Philippines, 29 Sep 2020 Metro Manila (CNN Philippines, September 29) — The Philippine economy will see a deeper slump this year as the COVID-19 crisis remains uncontained in the country, pushing more people into poverty, the World Bank said.

by Lawrence Agcaoili, Czeriza Valencia (The Philippine Star), 25 Sep 2020 MANILA, Philippines — The Philippines may post the biggest economic contraction in Asia-Pacific at almost 10 percent this year after imposing one of the world’s longest and strictest lockdowns to slow the spread of COVID-19, according to S&P Global Ratings.

by Ben O. de Vera, Philippine Daily Inquirer, 24 Sep 2020 MANILA, Philippines — The Philippines’ gross domestic product (GDP) is expected to fall at its worst rate in at least 36 years, no thanks to the COVID-19 pandemic’s debilitating impact on the domestic as well as global economies.

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by Ben O. de Vera, Philippine Daily Inquirer, 16 Sep 2020 UK-based think tank Oxford Economics has further downgraded its 2020 gross domestic product (GDP) projection for the Philippines to a negative 8.2-percent, no thanks to weak consumer spending and project delays due to restrictions amid a prolonged quarantine.

by Cathrine Gonzales, Philippine Daily Inquirer, 15 Sep 2020 MANILA, Philippines — The Philippine economy is seen to contract by 7.3 percent in 2020, but is expected to rebound next year as the economy is further reopened and the coronavirus disease 2019 is contained, according to a report from the Asian Development Bank (ADB) released…

by Czeriza Valencia (The Philippine Star), 10 Sep 2020 MANILA, Philippines — The government’s economic planning body is standing pat on its forecast 5.5 percent gross domestic product (GDP) contraction this year despite the emergence of other risk factors on top of the prevailing COVID-19 pandemic.

by Mary Grace Padin (The Philippine Star), 9 Sep 2020 MANILA, Philippines — Global rating agency Fitch Ratings expects the Philippines to suffer a deeper economic contraction of eight percent this year, and noted a continued erosion of the country’s fiscal buffers amid the coronavirus pandemic.

by Gabriel Pabico Lalu, Philippine Daily Inquirer, 9 Sep 2020 MANILA, Philippines — There are 40 percent of Filipinos who believe that the country’s economy would be in a more problematic state in the next 12 months compared to now, a Social Weather Stations (SWS) survey revealed.

by Czeriza Valencia (The Philippine Star), 7 Sep 2020 MANILA, Philippines — The economy may not return to pre-pandemic growth trajectory by next year because of still rising infection rates and weakness in the recent jobs market and industrial data, according to Capital Economics.

By: Doris Dumlao-Abadilla, Philippine Daily Inquirer, 4 Sep 2020 The Philippine economy is likely to contract by a steeper 8.5 percent this year and will be slow to recover next year as the country grapples with rising infections and continuing constraints in public transport alongside fiscal conservatism and weak public health institutions and leadership.

by Lawrence Agcaoili (The Philippine Star), 4 Sep 2020 MANILA, Philippines — Moody’s Investors Service has revised to seven percent its 2020 economic contraction target for the Philippines after the country slipped into a pandemic-induced recession in the second quarter.

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by Czeriza Valencia (The Philippine Star), 16 Aug 2020 MANILA, Philippines — Slower declines in economic output can be expected in the second and third quarters of the year leading to a full-year contraction of eight percent, according to a former head of the National Economic and Development Authority.

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by Czeriza Valencia (The Philippine Star), 13 Aug 2020 MANILA, Philippines — The economy is expected to see a sharp contraction of between eight and nine percent this year amid the disruption caused by the pandemic, but its long-term growth prospects remain, the investment banking arm of the Metrobank Group said.

By Tyrone Jasper C. Piad, Businessmirror, 11 Aug 2020 WITH the Philippines returning to a stricter lockdown, the path to recovery of consumer spending—one of the major economic growth drivers—may be bumpy after quarantine measures ease.

by Beatrice M. Laforga, BusinessWorld, 10 Aug 2020 TWO major institutions downgraded their full-year growth forecasts for the Philippines in 2020 in the wake of the 16.5% contraction in second-quarter gross domestic product (GDP), with HSBC Research pricing in what would be a record contraction for the year of 9.6%.

By Anna Leah E. Gonzales, Manila Times, 7 August 2020 The interagency Development Budget Coordination Committee (DBCC) on Thursday further trimmed its economic growth forecast for this year to -5.5 percent from its earlier -2 to -3.4-percent range to take into account the worsening impact of the coronavirus crisis on tourism, trade and remittances.

Read more here.

by Lawrence Agcaoili (The Philippine Star), 29 Jul 2020 MANILA, Philippines — A large drop in remittances from overseas workers due to the pandemic-induced global economic slump would hurt consumption in the Philippines and other major recipient countries, according to US-based credit rating agency Moody’s Investor Service.

by Ben O. de Vera, Philippine Daily Inquirer, 27 Jul 2020 MANILA, Philippines – The Philippines’ gross domestic product (GDP) likely slid by almost a fifth year-on-year during the second quarter at the height of the longest and most stringent coronavirus disease 2019 (COVID-19) lockdown in the region, London-based Capital Economics said.

by Doris Dumlao-Abadilla, Philippine Daily Inquirer, 27 Jul 2020 Investors may have to wait until next year to see a recovery in the main stock index to 7,000 as economic fallout from the coronavirus (COVID19) pandemic casts doubt on the sustainability of the market’s recent rebound.