Holding Pattern

PHILIPPINES - Forecast 04 Nov 2015 by Romeo Bernardo and Christine Tang

Anyone tracking the Philippine economy would by now have his eyes on May 9, 2016.More than who will be the next president, the key question for Election Day 2016 is, will he or she have a clear mandate that is beyond challenge?Also, while we expect to see general commitment to policy continuity whoever wins, whether he or she will be able to speed up the pace of reform is a harder assessment.For now, we are expecting more of the same in the period leading up to the elections.Our 6.1% GDP growth forecast for 2016, up from 5.7% this year, factors in relative resilience to external headwinds, higher public spending and El Nino mitigation measures cushioning the impact of a prolonged drought.

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