Chugging Along

PHILIPPINES - Forecast 12 May 2014 by Romeo Bernardo and Christine Tang
Executive Summary By and large, the central scenario we drew up in our last quarterly report continues to hold, with government’s own leading economic indicator pointing to a slowdown in 1Q14 GDP growth.We are also seeing several potential drags on growth, including infrastructure bottlenecks and a forecast El Nino by midyear.The high and low sides of our forecasts continue to hinge on how aggressively government is able to meet infrastructure spending targets as typhoon reconstruction spending is reportedly proceeding slowing.A list of those involved in the pork barrel scam that purportedl...

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