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Philippine growth seen to slow to 5% amid tailwinds

MANILA, Philippines — The gross domestic product (GDP) growth of the Philippines will significantly slow to five percent next year from the projected 7.2 percent this year as tailwinds supporting the post-pandemic recovery have matured, ANZ Research said. “Factors that supported the rebound in domestic demand have reached their point of maximum strength and should […]

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Philippines: BPI sees below 6% GDP growth next year

MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) sees the country’s economic growth slowing to below six percent but is expected to avoid recession next year amid external headwinds. In a virtual press conference, Jun Neri, lead economist at BPI, said the gross domestic product (GDP) growth of the Philippines may ease to […]

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Philippines: BSP matches Fed’s 50-bps rate increase

MANILA, Philippines — As widely expected, the Bangko Sentral ng Pilipinas (BSP) delivered a softer 50-basis-point hike at the last rate-setting meeting of the Monetary Board for the year, as inflation is seen accelerating further and peaking this month. This brings the benchmark interest rate to a 14-year high of 5.50 percent, the highest since […]

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ADB eyes $4.3 billion annual lending to Philippines until 2025

MANILA, Philippines — The Asian Development Bank (ADB) will lend $4.3 billion annually over the next three years to the Philippines to support infrastructure, climate change and agriculture projects. “We are discussing with the government our new country strategy and are looking at three core strategic pillars that are aligned to President Marcos’ eight-point socioeconomic […]

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ADB hikes Philippine growth forecast to 7.4% this year

MANILA, Philippines — The Asian Development Bank (ADB) has raised its gross domestic product (GDP) forecast for the Philippines this year, following the country’s surprisingly strong economic performance in the third quarter, but it expects growth to slow next year. In the ADB’s Asian Development Outlook Supplement for December released yesterday, the multilateral lender said […]

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