PHILIPPINES

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Country Analysts

Romeo Bernardo
Former Deputy Finance Minister
Christine Tang
Former Economist, Central Bank

In The News

Databank

Click here to access the latest Macroeconomic Databank

Recent Country Insights

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GDP growth climbs to 6.4% in 4Q19
PHILIPPINES - In Brief 23 Jan 2020
As expected, stronger public spending pushed GDP growth to 6.4% in 4Q19, up from a low of 5.5% in 2Q19 and a downwardly revised 6% growth rate in 3Q19. Both government consumption and public construction grew at double-digit rates, reflecting fierce efforts to catch up on spending held up in 1H19...

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Taal Volcano eruption
PHILIPPINES - In Brief 17 Jan 2020
Five days after the eruption of Taal Volcano, situated in one of the most popular domestic tourist destinations some 60km south of Metro Manila, Philippine authorities continue to remain on high alert for the possibility of a hazardous explosive eruption (i.e., Alert Level 4, 5 being the highest)...

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Happy new year?
PHILIPPINES - In Brief 09 Jan 2020
First, the good news. Government has a new P4.1 trillion budget which President Duterte signed into law early this week. This would normally be par for the course but, following last year’s delayed budget that became a major drag on economic growth, is clearly a positive development. Public spend...

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Manila’s water problems (2)
PHILIPPINES - In Brief 17 Dec 2019
The fortunes of Metro Manila’s water concessionaires have taken a turn for the worse since they drew the President’s ire two weeks ago. First, in an attempt to defuse his anger, the water firms announced that they are waiving the combined P10.8 billion (about $212 million) awarded to them by the ...

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Manila’s water problems
PHILIPPINES - In Brief 05 Dec 2019
On Tuesday, Manila’s business elites found themselves at the receiving end of President Duterte’s latest tirade. The cause? A ruling by the Permanent Court of Arbitration in Singapore for government to pay Manila Water, one of the metropolis’s two water concessionaires, P7.39 billion (~$145 milli...

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A gradual slope
PHILIPPINES - Forecast 25 Nov 2019
Recent macroeconomic data show encouraging signs of normalizing domestic activity. Inflation and interest rates have dropped, public sector outlays appear to be getting back on track and work on reform bills that have held back investments are proceeding apace. We forecast a gradual uphill for GD...

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Q319 GDP rises to 6.2%
PHILIPPINES - In Brief 07 Nov 2019
After two disappointing quarters below 6%, GDP growth finally climbed to 6.2% in 3Q19. Accounting for the pick-up in growth were household spending, helped by lower inflation, public consumption and a significant acceleration in construction activity following government efforts to catch up on in...

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Three growth boosters
PHILIPPINES - In Brief 25 Oct 2019
We are taking note of three announcements this week that are positive news for growth in the short to medium term.First, the one that has the most immediate economic growth impact, is government’s September fiscal report showing an impressive 40% jump in non-interest expenditures. This follows mo...

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A fat tail
PHILIPPINES - In Brief 22 Oct 2019
In our conference call last July, we spoke of necropolitics and the tail risk of the death of the President in office. Long-rumored to be sick, the 74-year old President reportedly fell off his motorbike last Thursday, felt well enough to go to Japan to attend the enthronement of the emperor toda...

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