News » PH headed to deepest economic recession in 35 years – BDO

PH headed to deepest economic recession in 35 years – BDO

PH headed to deepest economic recession in 35 years – BDO

The Philippines may be heading to its deepest economic recession in 35 years due to the COVID-19 pandemic, but it is during this crisis that investors should be on the prowl for good bargains that they can keep over a longer-term horizon, said Fritz Ocampo, BDO Unibank’s chief investment officer.

Ocampo said that the country’s gross domestic product (GDP) may contract by 5.9% this year. The likely winners during this crisis are those operating digital platforms, including online banks, sellers of essential items, logistics companies and telecom firms that provide much-needed connectivity.

The key to get out of recession is for the government to spend more than it usually does, Ocampo said. He also noted that the Bangko Sentral ng Pilipinas had done its share of aggressively easing monetary settings and unleashing hundreds of billions of money to prevent this public health crisis from morphing into a financial crisis.

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.