News » Elections to help boost PH economy in H1

Elections to help boost PH economy in H1

Elections to help boost PH economy in H1

The upcoming national election is expected to spur heavy consumer spending and stimulate better economic growth for the first half of 2022  in the Philippines.

In a joint report by First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) Capital Markets Research, it was stated that the economy is already “on the mend” following the Christmas season.

FMIC added that a further acceleration in the economy — six to seven per cent — could be reached this year following a 5.6% Gross Domestic Product (GDP) growth in 2021.

Apart from the May polls, FMIC’s economic recovery confidence is driven by the declining unemployment rate in the country.

The report stated that “the [exciting] reopening of businesses and consumer spending seen in malls and restaurants should provide the needed impetus for the economic recovery gaining traction.” 

Meanwhile, the easing of inflation is also expected to help this year’s recovery after the inflation rate eased down to 3.6% last December, well within the Bangko Sentral ng Pilipinas’s (BSP) target.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.