In a quarterly outlook for Asia-Pacific economies dated March 12, the Singapore lender said Philippine economic growth this year is expected to come in at 6.3%, which is the same estimate it gave on Jan. 30, while for 2016 it projected 6.0%. The 2015 forecast represents a slight acceleration from the 6.1% expansion seen last year, but lags the 7%-8% target set by government. DBS Bank said this year’s output should still be driven mainly by private consumption, but an expected increase in fiscal spending ahead of next year’s national elections will provide the much-needed boost to economic activity. In the report, DBS Bank economist Gundy Cahyadi said he expects private consumption growth to remain steady at around 5.5% this year. “There is no reason to expect a shift from this trend for now. The high frequency data still suggests healthy consumption demand,” Mr. Cahyadi said. Continue reading...
Thank you Wrye .... just new to this site .. we met at la fiesta on your last visit .. appreciate the financial news ..good to keep tabs on trends in fiscal matters ..
