News » Philippine GDP growth likely to fall below 6% in 2019

Philippine GDP growth likely to fall below 6% in 2019

Philippine GDP growth likely to fall below 6% in 2019
Philippine GDP growth likely to fall below 6% in 2019

The growth of the Philippines’ GDP is likely to drop below 6% for all of 2019, as growth in the country’s economy in the first quarter fell below expectations, according to UK-based Oxford Economics. The prediction was made despite speculations that the Philippine economy is expected “to gain some traction in the coming quarters with the budget impasse behind us and expansionary macro policies lending support,” according to UK-based Oxford Economics. Thatchinamoorthy Krshnan, assistant economist at Oxford Economics, said the risks are to the downside following renewed worries on the US-China trade dispute. Meanwhile, London-based Capital Economics said the country’s disappointing first-quarter growth is just one of the issues that will plague the Philippine economy. Alex Holmes, Capital Economics’ Asia economist, said a tough external environment and the effects of monetary tightening mean growth is likely to struggle to beat 6% this year. The country’s first-quarter GDP growth was 5.6%, the slowest in four years, due to the government’s underspending at the start of the year because of a budget impasse in Congress.

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.