jobs – Author Carlo Carrasco

Filinvest REIT’s Profit Jumps to P1.3 Billion during January-September 2026 period

November 12, 2026November 8, 2026carlocarrasco

Real estate investment trust Filinvest REIT Corp. (FILRT) saw its profit jump 28% to P1.3 billion during the January-September 2026 period and the figure includes revenues from the full-year ownership of Festival Mall (main mall) in Alabang, Muntinlupa City, according to a business news report by The Manila Times.

FILRT’s portfolio consists of seventeen office buildings, one shopping mall and one resort lot, with a combined gross leasable area of more than 450,000 square meters. The entity is also one the top taxpayers in Muntinlupa City.

To put things in perspective, posted below is an excerpt of the report of The Manila Times. Some parts in boldface…

FILINVEST REIT Corp. (FILRT) posted a 28-percent increase in net income to P1.3 billion in the first nine months of 2026, supported by higher revenues following the full-year contribution of Festival Main Mall to its property portfolio.

The real estate investment trust on Wednesday reported revenues of P3 billion from January to September, up 18 percent from P2.54 billion in the same period last year.

The latest earnings performance builds on the 15-percent growth in net income FILRT recorded in the first nine months of 2025, when profit reached P1.02 billion from P893 million in the previous year.

The company attributed its revenue growth mainly to the full-year contribution of Festival Main Mall, which was added to its portfolio in May 2025.

Costs and expenses increased by a slower 4 percent to P986 million, while other charges declined 1 percent to P279 million during the nine-month period.

FILRT’s average portfolio occupancy remained at 86 percent in the first three quarters, unchanged from the same period last year.

Its office portfolio recorded an average occupancy rate of 79 percent, with multinational business process outsourcing companies accounting for 83 percent of office tenants. Traditional tenants accounted for 14 percent, while coworking, wellness and educational institutions made up the remainder.

During the third quarter, FILRT secured 5,651 square meters of new leases from incoming tenants and existing occupants expanding their leased spaces at Northgate Cyberzone in Alabang. This brought its year-to-date new leases to 11,714 square meters.

The company also renewed all 20,689 square meters of leases expiring this year, bringing the portfolio’s weighted average lease expiry at 13.95 years as of end-September.

With the improved earnings, FILRT’s board approved a quarterly cash dividend of P0.06 per outstanding common share, covering income earned from July to September. Shareholders on record as of Nov. 24 will receive the dividend on Dec. 2.

The latest declaration brings FILRT’s total dividends declared for 2026 to P0.24 per share, equivalent to an annualized yield of 8.5 percent based on its closing share price of P2.84 on Oct. 30.

Let me end this post by asking you readers: What do you think of this development? Do you think FILRT has a bright future of growth even though the economy of the Philippines continues to get weaker? Do you think FILRT will continue to contribute a lot to the economy of Muntinlupa City over the next five years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Vietnam sets 2027 targets of at least 10% GDP growth and $6,100 per capita GDP

November 10, 2026November 8, 2026carlocarrasco

With its booming economy, robust manufacturing and exports, and a thriving tourism industry, Vietnam is aiming high to achieve at least 10% GDP growth and $6,100 per capita GDP in 2027, according to a news report by VnExpress. Vietnam is already one of the outstanding economies in all of Southeast Asia today and it will host the prestigious Asia-Pacific Economic Cooperation (APEC) next year.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Vietnam’s National Assembly has set a target of at least 10% economic growth in 2027, with GDP per capita expected to reach approximately US$6,100.

The legislature passed a resolution on the country’s 2027 socio-economic development plan on Saturday, with more than 93.4% of lawmakers voting in favor.

Under the resolution, Vietnam aims to achieve economic growth of at least 10% next year while keeping inflation at around 4.5%.

The resolution calls on the government to continue prioritizing growth while maintaining macroeconomic stability, controlling inflation and ensuring major economic balances.

The government is also tasked with making breakthroughs in mobilizing and efficiently allocating resources for development. Measures include increasing state budget revenue, cutting expenditure, particularly recurrent spending, issuing various types of bonds and securing official development assistance (ODA) loans.

It must also promptly implement policies to raise foreign ownership limits in industries and sectors that do not affect national security.

The National Assembly urged the government to manage interest and exchange rates in line with domestic and international conditions, lower lending rates and direct credit toward production, business activities and priority sectors.

The government is also expected to introduce effective measures to address trade deficit, develop a healthy and sustainable real estate market, and resolve long-standing stalled projects.

To ensure energy security, the resolution requires the government to guarantee sufficient supplies of electricity and petroleum products under all circumstances.

On infrastructure, the government is tasked with completing the expressway network in line with approved plans, particularly the eastern and western sections of the North-South Expressway and East-West transport corridors.

It must also accelerate major national railway projects, including the Lao Cai-Hanoi-Hai Phong railway, the North-South high-speed railway, international rail connections and urban railway networks.

The resolution calls for faster progress on two major airport projects: Long Thanh International Airport in Dong Nai, about 40 kilometers east of Ho Chi Minh City, and Gia Binh International Airport in Bac Ninh Province, 40 km east of central Hanoi.

Long Thanh is being developed to ease pressure on HCMC’s Tan Son Nhat International Airport and eventually handle 100 million passengers annually. Gia Binh is planned as a major aviation gateway for northern Vietnam, serving passenger and cargo transport, international transit and aircraft maintenance.

Let me end this piece by asking you readers: What is your reaction to this development? Considering the strong economic momentum Vietnam has been enjoying recently, do you think they can achieve GDP growth of at least 10% next year? Do you think inflation won’t reach 5% anytime soon? How long do you think Vietnam’s thriving manufacturing and exports will last?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Filinvest City Aims High with New Alabang District

November 5, 2026October 30, 2026carlocarrasco

Remember back in 2025 when it was announced that telecommunications giant PLDT will relocate its headquarters to Filinvest City? Filinvest City itself is now aiming high with its new Alabang district called The Quarter which is being developed beside the future PLDT campus and it is being prepared to attract commercial investment, according to a news article by Insider PH.

To put things in perspective, posted below is an excerpt of the Insider PH news article. Some parts in boldface…

Corporate investments and rising demand for commercial space are creating opportunities for further business expansion in southern Metro Manila, as Filinvest City seeks to attract enterprises to its established Alabang township.

Filinvest City has introduced The Quarter, a four-hectare mixed-use district designed to accommodate new businesses and support the township’s next phase of commercial development.

A township of 47,000 workers – The development is positioned beside the upcoming PLDT Campus, which is expected to accommodate approximately 5,000 employees. The concentration of corporate activity could generate demand for retail, dining, healthcare, hospitality and professional services.

The Quarter also offers commercial lots to businesses and investors seeking to establish operations near major employment centers. Filinvest City currently serves approximately 47,000 workers, more than 19,000 residents and 231,000 daily visitors.

The township’s existing population and commercial activity provide a potential customer base for enterprises considering expansion into the district.

Strategic location – The Quarter forms part of Filinvest City’s strategy to diversify its business ecosystem beyond traditional office developments.

Located near Asian Hospital and Medical Center, the district could accommodate healthcare-related enterprises, including private clinics, therapy centers and specialized treatment facilities.

Its location also provides access to the South Luzon Expressway, nearby educational institutions, residential communities and commercial establishments. A pedestrian bridge connecting The Quarter to the future PLDT Campus is also planned.

‘New centers of opportunity’ – “Filinvest City’s growth has always been driven by the ability to identify and cultivate new centers of opportunity,” Filinvest Townships first vice president and head Don Ubaldo said in a press statement.

“Just as the Peza-registered hub Northgate Cyberzone helped establish the township in the 90’s as a leading destination for the IT-BPM industry, The Quarter is envisioned to be the epicenter of its next phase of evolution, creating a dynamic environment where enterprise and innovation can thrive together,” he added.

Let me end this post by asking you readers: What do you think of this development? Do you think the new Alabang district called The Quarter will help Filinvest City attract more new investment and create both new jobs and more business opportunities in the years to come? Do you think Filinvest City will become to most vibrant and most progressive central business district (CBD) of the south by the year 2030?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thailand Considering Visa Waivers for Travelers from Few Specific Nations

November 2, 2026October 28, 2026carlocarrasco

With their struggling tourism industry and long-haul tourism in mind, Thailand is considering a 15-day visa exemption for travelers from a few specific nations, according to a news article by VnExpress.

To put things in perspective, posted below is an excerpt from the article of VnExpress. Some parts in boldface…

Thailand is considering a 15-day visa exemption for travelers from Colombia, Mexico and Uzbekistan to ease visa processing delays and attract more long-haul visitors.

The Ministry of Tourism and Sports will submit a proposal to the visa policy committee on Nov. 9, Tourism and Sports Minister Surasak Phancharoenworakul said on Monday, as reported by The Nation Thailand.

The proposal comes amid growing concerns that visa-processing delays are disrupting Thailand’s long-haul tourism market, particularly travel from Latin America, with passenger show-up rates on some flights falling by 20% to 30%, Khaosod English news site reported.

Emirates recently filed a complaint with the Tourism Authority of Thailand after 20-30 passengers per flight from Mexico failed to show up because they had not received their visas in time, local media reported.

Surasak said the ministry was seeking a long-term solution to persistent visa delays affecting Mexico and other Latin American markets. The committee will assess the proposal’s security and economic implications, with the ministry seeking exemptions for countries considered to pose low security risks.

Chiravadee Khunsub, deputy governor of the Tourism Authority of Thailand overseeing international markets in Europe, the Americas, the Middle East and Africa, said visa procedures had also affected arrivals from Uzbekistan, Thai Examiner reported.

Uzbek travelers previously had to apply for Thai e-visas through the Royal Thai Embassy in Russia, a process that travel agents in Uzbekistan considered cumbersome.

Some travelers subsequently canceled their Thailand holiday packages and chose competing destinations, including Vietnam.

The proposed exemption aims to simplify entry procedures, reduce disruptions to travel plans and restore confidence among international tour operators and airline partners.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Thailand’s move to grant visa exemptions to travelers from Colombia, Mexico and Uzbekistan makes a lot of sense? Do you think Thailand will be able to match its 2025 foreign tourist arrival numbers before the end of this year? What was single biggest problem you had when it came to visiting Thailand?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Economist Says Philippines Has Crossed into Stagflation

October 27, 2026October 22, 2026carlocarrasco

As far as one economist is concerned, the Philippines has crossed into stagflation pointing to factors like domestic government spending reductions, soaring costs of food, high price of oil and more, according to a news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

The Philippines has crossed the line from a standard cyclical slowdown into genuine stagflation, driven by global energy price shocks, domestic government spending cuts, and soaring food costs, according to a regional economist.

Speaking at “CFME Talks Macro Outlook: Global, Australia, New Zealand, and the Philippines” briefing hosted by Center for Financial and Monetary Economics (CFME) on Wednesday, Oct. 21, David G. Fernandez, senior fellow at CFME and visiting professor at Philippine Center for Economic Development (PCED), warned that consensus growth forecasts for 2026 have plummeted from more than five percent to around 3.2 percent.

When asked what markers signal the shift to genuine stagflation, Fernandez said: “Well, I think that we’ve crossed the line. The revisions indicate that that’s what markets are expecting.”

He added that near-term growth could fall below already lowered forecasts while inflation could exceed expectations, emphasizing that this outlook “has to do with—not [the] fault of the Philippines—but the oil prices and potentially significantly higher food prices.”

“Growth could even be below the lowered forecasts and that inflation could be even higher than the higher forecasts that people have,” Fernandez added. “I worry about is that the optimism or the consensus forecast that we get back to five percent growth and you see inflation come down could be too optimistic themselves.”

Stagflation is generally understood as the simultaneous occurrence of elevated inflation, stagnant economic growth, and high unemployment, although economists do not have universally accepted numerical thresholds for determining when an economy has entered such a period.

In his presentation, Fernandez said inflation projections have shifted sharply upward, from an initial 2.6 percent toward six percent, with headline consumer price index (CPI) inflation already reaching 7.2 percent.

He described the country’s near-term trajectory as an extreme stagflation story, with forecast revisions becoming increasingly severe and the Philippines remaining firmly “under the radar” for international investors.

The economic slowdown was reflected in second-quarter gross domestic product (GDP) growth, which fell to a post-pandemic low of 2.3 percent.

Fernandez cautioned that growth was cushioned by inventory stockpiling and a doubling of government fuel subsidies even as underlying domestic demand weakened.

He said public investment plunged by nearly 14 percent following public sector retrenchment linked to the flood control scandal, while private consumption growth dropped below three percent as family incomes were eroded by rising transport and food costs.

Fernandez said it remained very difficult to build a narrative for a strong recovery. While growth may have reached its floor, he projected that any subsequent rebound would remain shallow and well below the economy’s six-percent potential trend growth.

Compounding the energy crisis, he said, is a rapid acceleration of second-round effects, with businesses passing higher input costs on to consumers faster than in previous shock cycles.

Headline inflation reached 7.2 percent in both April and September, with Fernandez pointing to rice prices surging by more than 20 percent and transport costs climbing nearly 15 percent.

He also flagged the possibility of a “Godzilla El Niño” pushing food prices even higher, warning that consumers and policymakers may have to endure headline inflation hovering around seven percent for an extended period.

Meanwhile, Fernandez said the widening economic fallout has pushed the Philippines’ current account deficit forecast to more than four percent of GDP, underscoring the country’s vulnerability to imported energy shocks.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economist is correct that the Philippines has crossed over into stagflation? Do you think there is nothing the national government can do to lower the prices of oil, fuel and other things that are essential for Filipinos? Do you think the national economy will fall into a recession by early 2028?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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IMF Sees Sluggish Economic Growth for the Philippines this Year

October 20, 2026October 14, 2026carlocarrasco

In its latest economic assessment about the Philippines, the International Monetary Fund (IMF) said the nation’s gross domestic product (GDP) will grow by only 3.4% this year and it will end up as one of the weaker economics of Southeast Asia, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the news report of the BusinessWorld. Some parts in boldface…

THE PHILIPPINES could post the fifth-slowest growth in Southeast Asia this year as weak investment and elevated inflation weigh on economic activity, while unemployment is expected to rise more than previously forecast, the International Monetary Fund (IMF) said.

In its latest World Economic Outlook (WEO) released on Tuesday, the IMF expects Philippine gross domestic product (GDP) to grow by 3.4% this year, slowing from the post-pandemic low of 4.4% recorded in 2025.

This puts the Philippines behind most economies in the Association of the Southeast Nations (ASEAN). Vietnam is projected to post the fastest growth at 8.4%, followed by Malaysia (5.2%), Indonesia (5.1%), Singapore (5%), Lao People’s Democratic Republic (4.5%), and Timor-Leste (4%).

The Philippines is only expected to outpace Cambodia (3%), Thailand (2.1%), Myanmar (2%), and Brunei (1.9%) this year.

Philippine economic growth remained muted this year as the Middle East war-driven energy crisis amplified the lingering effects of the flood control mess. In the second quarter, GDP grew by a new post-pandemic low of 2.3%, bringing the first-half expansion to 2.6%.

However, the IMF expects the Philippine economy to regain momentum next year, but still below its growth potential.

“The Philippines is projected to grow by 5.1% in 2027, recovering from 3.4% in 2026,” an IMF spokesperson said in an e-mail.

“This is a robust recovery — thanks to the still elevated Philippines growth potential—which allows (the) Philippines to maintain a relatively strong pace compared with many ASEAN peers next year. However, (it is) still relatively lower than its growth potential.”

If this holds, the Philippines will be the second fastest-growing economy in ASEAN in 2027, matching Indonesia and trailing only Vietnam with 7.5%.

MAIN RISKS – For the IMF, the Philippines could rebound once confidence picks up and the energy shock fades to gradually steer investments back to the country.

However, the Washington-based multilateral lender said the economy may remain below its potential until next year if the investment backdrop remains bleak and consumer prices stay elevated.

“The main risks are renewed delays in public infrastructure investment, persistently high energy and food prices, and weaker investor confidence,” the IMF spokesperson said. “Restoring public investment while strengthening governance will be key to making the recovery durable.”

Economic managers are targeting 3.5%-4.5% GDP growth this year and 5%-6% next year until 2030.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there will be no economic breakthroughs for the Philippines this year? What do you think the Philippines should do to attract more new foreign investments and bring down the cost of energy? Do you think hosting the ASEAN Summit this year resulted in no real economic benefits for the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines Targets 6.4 Million International Tourist Arrivals this Year

October 19, 2026October 12, 2026carlocarrasco

The Philippines, which has been enduring economic weakness and high inflation for much of 2026, is targeting 6.4 million international visitor arrivals this year, according a news report by the Manila Bulletin.

To put things in perspective, international tourists/visitors is a reference to both foreign tourists and overseas Filipinos who arrived in the country. In 2025, the Philippines attracted 5.94 million foreign tourists and 543,000 overseas Filipinos which combine for a grand total of 6.48 million international tourists/visitors. That said, the Department of Tourism’s (DOT) target for 2026 technically the same when compared to what was achieved in 2025.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The Philippines expects tourist arrivals to remain flat at around 6.4 million this year amid more muted travel demand due to the ongoing fuel crisis, according to the Department of Tourism (DOT).

Tourism Secretary Dita Angara-Mathay told reporters last week that the DOT expects international visitor arrivals to remain relatively unchanged from the 6.48 million recorded last year.

“6.4 [million] is our target because I was really super anxious about the fuel crisis and the accompanying higher airline fees, as well as the lower sentiment for traveling,” Angara-Mathay said.

Even against this backdrop, Angara-Mathay said tourist arrivals remain relatively strong, having posted 3.46-percent year-on-year growth as of Oct. 6.

The latest official DOT data showed that visitor arrivals from January to August inched up by 0.8 percent to 4.42 million from 4.38 million in the same period last year.

“I was afraid that it would go down, but I don’t think that’s going to happen. I think we’ll be able to match [last year],” Angara-Mathay said.

Given the expected boost in arrivals during the holiday season, the DOT still sees room for growth this year, especially if the government approves its proposed expansion of the visa-free scheme for Chinese tourists.

The DOT is pushing to expand visa-free coverage for Chinese nationals to other gateways in hopes of opening more flights between the Philippines and China beyond Manila and Cebu.

Chinese tourists are currently allowed to enter the Philippines without a visa for stays of up to 14 days, provided they arrive through either Ninoy Aquino International Airport (NAIA) or Mactan-Cebu International Airport (MCIA).

The current arrangement has already resulted in a surge in Chinese visitors this year, with arrivals nearly doubling to 303,567 as of end-August from 156,926 a year ago.

“There is a direct correlation with taking out that friction of the visa with [increased] travel. So hopefully, everyone’s on board, unfortunately one more agency needs to be convinced,” said Angara-Mathay.

While she did not identify the agency opposing the visa-free expansion, the DOT chief emphasized that the Department of Foreign Affairs (DFA) and the Bureau of Immigration (BI) are fully on board.

The DFA authorized visa-free entry for Chinese nationals earlier this year, while BI issued the implementing guidelines.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the tourism industry of the Philippines has what it takes to attract more than enough foreign tourists and returning overseas Filipinos to exceed the DOT’s 2026 target? Do you feel uncomfortable about the Philippine government’s effort to expand visa-free coverage for Chinese nationals to other gateways? Do you prefer to see the authorities focus more on attracting more travelers from Southeast Asia and Europe? What do you think are the three biggest problems of the tourism industry of the Philippines today?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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AMRO Slashes 2026 Philippines GDP Growth Forecast

October 11, 2026October 6, 2026carlocarrasco

The Philippines, which is currently the host of the ASEAN Summit and is also one of the economic weaklings of Southeast Asia, is predicted by ASEAN+3 Macroeconomic Research Office (AMRO) to have slower gross domestic product (GDP) growth this year, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

THE Philippine economy may continue to grow below its potential through 2027 as persistent energy shocks and weak investment weigh on activity, the ASEAN+3 Macroeconomic Research Office (AMRO) said.

In its latest ASEAN+3 Regional Economic Outlook, AMRO slashed its Philippine gross domestic product (GDP) growth projections for this year to 3.3% from its July estimate of 4.1% and for 2027 to 4.6% from 5.5%.

Both forecasts are below the National Government’s growth targets of 3.5%-4.5% for 2026 and 5%-6% for 2027.

AMRO also trimmed its inflation forecast for this year to 5.6% from 5.7% previously but raised it for next year to 4.6% from 4.1% previously.

If realized, inflation will accelerate from the 1.7% clip last year and breach the central bank’s 3% target for two consecutive years.

At a press briefing on Monday, AMRO Chief Economist Dong He noted that the Middle East war-driven energy shock took a heavy toll on the Philippine economy, significantly slowing growth while fueling inflation.

“The Philippines is one of the economies that was hit harder by the energy shock,” he said. “As you recall, when the Middle East conflict took place, the government took very swift action and they introduced a national emergency. So that, I think, helped the country galvanize towards responses towards this big energy shock.”

“But of course, growth did slow down significantly and the inflation went up very quickly,” Mr. He added.

The AMRO chief economist also noted that the Philippine economy continues to be weighed down by an investment slump following the flood control corruption scandal which broke out last year.

“Now, the Philippines also have some domestic issues that they need to deal with,” Mr. He said. “Remember, there was this flood control-related issue and that significantly slowed down public investment.”

“So, the growth outlook is very dependent on how fast public investment and construction related activities can pick up,” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there really is not much the government can do to boost economic growth this year? What is your opinion about the way the current economic managers of the Philippines are handling economic matters? Would you be surprised to see the Philippine economy fall into a recession in the first half of 2028?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Singapore Leads Southeast Asia in Tourism Development

October 9, 2026October 3, 2026carlocarrasco

Singapore emerged as the best among the economies of Southeast Asia in the 2026 Travel and Tourism Development Index of the World Economic Forum (WEF), according to a news report of VnExpress. Globally, Singapore ranked 13^th in a field of 110 economies.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Singapore ranked 13th among 110 economies in the World Economic Forum’s 2026 Travel and Tourism Development Index, the highest position among ASEAN.

The city state scored 4.89 points, up 3.4 percentage points from 2024 in the biennial ranking released on Friday by the World Economic Forum, an international advocacy non-governmental organization and think tank based in Switzerland.

Indonesia ranked at 23rd, followed by Malaysia at 26th, Thailand at 38th, Vietnam at 52nd, the Philippines at 57th, and Laos at 75th.

The index measures factors and policies that enable sustainable and resilient development of tourism like business environment, safety and health conditions, price competitiveness, air transport infrastructure, ground and port infrastructure, tourist services and infrastructure, natural resources, and cultural resources.

Singapore received high scores in business environment, safety and security, travel policy and enabling conditions, and infrastructure and services.

Singapore, the second largest economy in Southeast Asia after Indonesia by nominal GDP, is known for its strict laws and low crime rates. It has earned (its) reputation as one of the safest countries in Asia.

The city-state is ramping up investment in large-scale tourism infrastructure as it seeks to strengthen its position as a leading travel and business hub in Asia.

The government announced a S$740 million (US$584 million) tourism funding package, more than twice the S$300 million allocated under the Tourism Development Fund in 2024, in May to strengthen industry resilience until 2040.

Let me end this piece by asking you readers: What is your reaction to this development? Have you visited Singapore over the past twelve months? Do you think Singapore can keep innovating and improving itself on tourism development?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Disappointing Economic Growth Ahead for the Philippines Until Mid-2028

October 8, 2026October 1, 2026carlocarrasco

For Capital Economics, the economic growth of the Philippines will end up disappointing by finishing below the national government’s targets until the middle of 2028, according to a news report by the Manila Bulletin. Capital Economics also sees the inflation rate of the country reaching 5.6% this year.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The Philippine economy is expected to “disappoint” until the end of the Marcos Jr. administration in 2028 as the lingering effects of the energy shock, weak business confidence, tighter fiscal policy, and El Niño weigh on recovery, according to think tank Capital Economics.

In a report last Tuesday, Sept. 29, Capital Economics forecast Philippine gross domestic product (GDP) growth at just three percent in 2026, before picking up to 4.5 percent in 2027, and 5.5 percent in 2028.

Capital Economics’ forecasts for 2026 and 2027 fall short of the government’s downgraded economic growth targets of 3.5 to 4.5 percent and five to six percent, respectively, while the 2028 projection falls within the five- to six-percent target but remains below the economy’s estimated potential annual growth of about six percent.

Despite the gradual recovery, Capital Economics noted that its growth forecasts for the Philippines from 2026 through 2028 remain below consensus estimates.

“The Philippines has been among the hardest hit economies globally by the energy shock and the recovery will be sluggish,” Capital Economics said.

The think tank noted that the Philippine economy was already on weak footing, even before the global energy crisis caused by the war in the Middle East, due to the fallout from the multibillion-peso flood-control corruption scandal. As such, GDP growth slowed further to a post-pandemic low of 2.3 percent year-on-year in the second quarter.

Capital Economics also cited that the second-quarter GDP expansion was the weakest outside the Covid-19 pandemic and the global financial crisis in 2008 to 2009, while pointing to more timely indicators such as purchasing managers’ indexes (PMIs), which have provided mixed signals on economic activity in the third quarter.

The Philippine economy grew by an average of 2.6 percent during the first half of 2026, well below the government’s full-year growth target.

Capital Economics sees elevated global energy prices keeping Philippine inflation above six percent for the rest of the year, which the think tank said would dampen consumer spending.

Headline inflation eased slightly to 6.1 percent last August, but the Bangko Sentral ng Pilipinas (BSP) expects the September rate to settle within the 6.4- to 7.4-percent range, potentially accelerating amid higher oil and food prices, plus a weaker peso.

Inflation averaged 5.2 percent during the first eight months of 2026, way above the government’s two- to four-percent target band for manageable year-on-year consumer price hikes.

Capital Economics expects Philippine inflation to average 5.6 percent this year, before easing to a within-target three percent next year and 2.3 percent in 2028.

Let me end this post by asking you readers: What is your reaction to this recent development? Considering all the factors and what has happened economically over the past six months, are you convinced that there is no way to boost the nation’s economic growth this year? Do you think the government has been negligent with economic management? Do you find it ironic that as host of the ASEAN Summit, the Philippines is looking like the economic weakling of ASEAN?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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