philippines

With one of the fastest growth rates in Asia, good news on the job front, plus lower than expected inflation in September, the Philippines economy approaches the year’s end in good condition.

Philippines inflation continued its downward trajectory in August, falling to 1.7%, the lowest in 34 months. With GDP growth holding steady, First Metro Corporation president Rabboni Francis Arjonillo predicts tax reforms will encourage further foreign investment.

The second half of 2019 should see the Philippines economy regaining momentum as increased government spending, combined with the possibility of further central bank rate cuts, look set to tempt investors back in.

With the nation’s May election process finalised, the 2019 national government budget passed the post, and a policy rate cut, the Philippines economy now looks set to meet an official economic forecast of GDP growth at around 6.5%.