• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » PH to keep underperforming this 2022 – DBS

PH to keep underperforming this 2022 – DBS

PH to keep underperforming this 2022 – DBS

The Philippines will continue to be an underperformer in the Association of Southeast Asian Nations (ASEAN) region this year due to the lingering effects of the pandemic, according to Singapore-based bank DBS.

In a report, DBS said that it expects the country to lag behind its neighboring nations by the second half of 2022 in terms of restoring its pre-pandemic Gross Domestic Product (GDP) levels.

The bank stated that their base case growth outlook of 6.5% for the Philippines took into account the risk of potential “slowdowns and sporadic tightening” caused by the COVID-19.

The DBS added that localized and calibrated virus restrictions are still having a detrimental impact on retail and recreation mobility, as evidenced by the steep drop experienced during the Omicron wave in January.

However, the DBS added that the country could “reclaim much of their lost ground” by the second half of the year when regulated caseloads and increased vaccination rates could allow for a more robust economic reopening.

DBS added authorities could begin to remove some restrictions over the coming months as cases soar to more manageable levels and immunizations surge.

On a positive note, DBS predicts that the Philippines’ economic policies will remain supportive of sustainability and growth.

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.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image