News » State spending will bolster Philippines economy – ING

State spending will bolster Philippines economy – ING

State spending will bolster Philippines economy

Dutch financial giant ING Bank sees strong Philippine economic growth in the second half of the year on the back of government spending. ING Bank in Manila senior economist Nicholas Mapa said strong government spending will likely bolster growth through the second half of 2018, and offset a likely slowdown in household spending owing to accelerating inflation and higher borrowing costs. ING Bank forecasts 6% to 6.5% growth due to the government’s ability to still pump funds into the economy for infrastructure projects to offset the deceleration in household consumption. Specifically, Budget Secretary Benjamin Diokno attributed higher government spending to the various projects implemented by the Department of Public Works and Highways which include road widening, repair, construction, flood control and drainage improvement projects. Infrastructure and other capital outlays expenditures hit P505.6 billion in the first eight months of the year, an increase of 49.8 percent, or P168 billion, from a year ago.

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.