BPO still a major engine of growth in Philippines
Business process outsourcing remains one of the key links that may be tapped to help strengthen the economy of the Philippines. During his presentation at a forum on March 6 at the Dusit Thani Hotel in Makati City, IMF resident representative to the Philippines Yongzheng Yang said that among the contributors to the strong growth of the Philippine economy are the robust domestic demand and sustained confidence of the business sector. This year, Yang said, the economy is expected to perform better than in 2018. It is also seen to grow without the risks of the previous period, he said. Yang added that the IMF will release an economic update in the coming weeks. For its part, the Asian Development Bank sees a more conservative but still encouraging growth outlook for the world in 2019.