Economists optimistic for PH growth this 2021
While the Philippine economy “remains far from recovering,” economists are optimistic on a positive economic performance on the back of fiscal spending.
HSBC economist Noelan Arbis projects a 6.5 per cent gross domestic product (GDP) this year. However, he said that “the Philippine economy is on the path to recovery, but it remains far from reaching its pre-pandemic levels.”
However, the inter-agency Development Budget Coordinating Committee (DBCC) projects revenues to be around P2.88 trillion, 14.4 per cent of domestic growth, while the budget gap amounts to around PHP1.78 trillion, about 8.9 percent of the annual output.
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