BPO, remittances could get hit by Trump policy – Capital Economics
London-based research consultancy firm Capital Economics said the country’s business process outsourcing (BPO) and Filipino workers’ remittances, sectors that bring in significant revenues, could be hardly hit by US President Donald Trump’s America first policy. Capital Economics said that while Trump’s protectionist threats are focused on China and Mexico, the Philippines also stands out as vulnerable to any moves by the US toward isolationism. Despite all this, Capital Economics kept its GDP growth forecast of 6.5 percent for the Philippines for this year, but noted that the risks are firmly to the downside.
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