Economic growth to exceed 6% – BMI Research

Fitch Group unit BMI Research raised its Philippines 2017 gross domestic product growth forecast to 6.7% from 6.3%. It also expects growth to average above 6% over the medium term, which is still a solid figure by regional and historical perspectives. BMI Research, however, said risks are increasingly weighted to the downside as the business environment deteriorates. BMI said that favorable demographics trends, a strong public investment drive and deepening economic cooperation with China and Japan were expected to continue supporting economic growth. BMI also said that equity market trends were showing signs of fatigue and the Philippine peso remained one of Asia’s worst performing currencies.