financial growth – Author Carlo Carrasco

Muntinlupa City Earns Special Citation in 2026 Most Business-Friendly LGU Awards

October 15, 2026October 14, 2026carlocarrasco

Muntinlupa City added another prestigious honor to its record of achievements as it was cited by the Philippine Chamber of Commerce and Industry (PCCI) in the 2026 Most Business-Friendly LGU Awards, according to a news report by the Manila Bulletin.

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

Muntinlupa City has been recognized by the Philippine Chamber of Commerce and Industry (PCCI) in the 2026 Most Business-Friendly LGU Awards, its second consecutive distinction.

Mayor Ruffy Biazon accepted the recognition after Muntinlupa placed in the top five of the City Level 1A category.

“Proud to share another nakakaproud feat of our City Government, Muntinlupeños!,” Biazon said.

He noted that this year’s honor mirrors the city’s achievement last year.

“Isang malaking tagumpay ito na nagpapakita ng commitment natin sa transparent governance, streamlined services, at pagbuo ng isang thriving environment para sa investors at MSMEs (This is a major achievement that demonstrates our commitment to transparent governance, streamlined services, and creating a thriving environment for investors and MSMEs),” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted that your city was cited again in the Most Business-Friendly LGU Awards? Did you create any new businesses within Muntinlupa over the past twelve months? Do you consider Muntinlupa City ready for big-time foreign investment?

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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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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Department of Tourism Adjusts Strategy Toward Investment, Jobs and Connectivity

October 4, 2026September 29, 2026carlocarrasco

Remember a few years ago when the Department of Tourism (DOT) unveiled an ambitious plan to establish the Philippines as a major tourism player in Asia? A lot has changed since then as economic growth of the country has slowed down tremendously and there is not much it can do to compete with others when it comes to attracting a lot of foreign tourists. That said, the DOT under its new leader is not only doing a campaign rebrand but also a notable adjustment of its strategy toward investment, jobs and connectivity, according to a news report by The Daily Tribune.

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

The Department of Tourism (DOT) is shifting its focus beyond visitor arrivals, placing greater emphasis on investments, infrastructure, connectivity, jobs and higher tourism revenues as it seeks to build a more competitive and sustainable industry.

Tourism Secretary Dita Angara-Mathay said the agency is pursuing an investment-driven and people-centered approach as the sector continues to make a significant contribution to the economy.

The Philippine Statistics Authority (PSA) reported that tourism accounted for 8.1% of the economy in 2025, generating P2.27 trillion in Tourism Direct Gross Value Added and supporting 7.70 million jobs.

“We want to be defined as an agency that’s proactively taking the lead in tourism readiness. This means strengthening our airports and gateways, improving our physical tourism infrastructure, and expanding air connectivity, so our visitors can move seamlessly across the country,” Angara-Mathay said.

The DOT is working with the Department of Transportation and other stakeholders to expand flights and establish air and sea links with strategic and emerging markets. From January 1 to May 19, international air seats on direct inbound flights reached 7.78 million, up 8.31% from the same period in 2025.

China was among the fastest-growing markets, with 310,000 arrivals during the period, up 69.15% year-on-year. The Philippines also secured expanded air services with Türkiye, doubling Manila-Istanbul flights to 14 weekly and opening frequency rights for secondary gateways.

To attract more investment, the DOT is implementing programs focused on tourism investment readiness, intelligence, accountability and strategic investor engagement. It has also begun developing partnerships in Japan, including potential projects involving a specialty medical clinic and telecommunications infrastructure in underserved destinations.

The agency is also pushing for a larger tourism marketing budget, with about 70% of its planned 2027 marketing allocation expected to go toward digital campaigns and media placements.

At the same time, the DOT is expanding support for tourism MSMEs through partnerships with Klook, GCash, Viber, Mastercard and Visa, while strengthening accreditation, workforce training and tourism data systems.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DOT will be able to make the tourism sector of the Philippines more attractive towards investors and large businesses that could potentially add a lot of economic value? How many news tourism jobs do you think could be created by the middle 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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Philippines 2026 Growth Outlook Sharply Downgraded by S&P and ADB

September 29, 2026September 25, 2026carlocarrasco

It looks like there is no end yet for the ongoing economic disappointment for the Philippines as S&P Global Ratings and the Asian Development Bank (ADB) sharply downgraded their respective 2026 growth forecasts for the country, 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…

S&P GLOBAL RATINGS and the Asian Development Bank (ADB) sharply downgraded their Philippine growth forecasts for this year as a weaker-than-expected first half and persistent economic headwinds threaten to stall the country’s recovery.

Based on its latest Economic Outlook for Asia-Pacific published on Wednesday, S&P cut its Philippine gross domestic product (GDP) growth projection for this year to 2.9% from 4.1%.

“We have lowered our growth forecast for 2026, reflecting the weaker-than-expected first-half growth and a more gradual recovery trajectory,” S&P Global Ratings Asia-Pacific Senior Economist Vishrut Rana said in an e-mailed response to questions. “It will take some time for the economy to recover its footing.”

At the same time, ADB trimmed its 2026 Philippine GDP growth projection to 3.3% from the 3.8% forecast it made in July.

“In the Philippines, weak public investment contributed to the 2026 downgrade from 3.8% to 3.3%, although a rebound is expected to support growth of 5.1% in 2027,” the Manila-based multilateral lender said in its Asian Development Outlook report released on Wednesday.

The ADB said that household consumption remained subdued amid high inflation and weak consumer confidence.

According to the ADB report, the Philippines is expected to be one of the slowest-growing economies in developing Southeast Asia this year, ahead only of Brunei Darussalam (1.2%), Thailand (2%) and Myanmar (2.2%). Vietnam is expected to post the fastest growth this year with 7.8%, followed by Indonesia (5.2%), Malaysia (4.9%), the Lao People’s Democratic Republic (4%), Timor-Leste (4%) and Cambodia (3.9%).

The lower growth projections from S&P and ADB come after the Philippine economy grew by 2.3% — a new post-pandemic low — in the second quarter, bringing first-half growth to 2.6%.

If S&P and ADB’s estimates hold, GDP growth will be slower than 4.4% in 2025, when a massive flood control corruption mess dampened the country’s spending and investments.

This year could also mark the fourth straight year that the government will miss its full-year growth goal. For this year, the Development Budget Coordination Committee (DBCC) is targeting 3.5%-4.5% GDP growth.

“The economy is facing a sharp pullback in public capital expenditure, a steep energy price shock, and elevated food prices, partly due to El Niño conditions,” S&P’s Mr. Rana said.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you notice how the national economy got weaker as the government of the Philippines focused more on foreign affairs and the hosting of the Association of Southeast Asian Nations (ASEAN) Summit? Are you convinced there is simply no room for economic improvement for the Philippines this year? Do you think the Philippines is on its way to falling into a recession in 2027?

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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