GDP – Page 2 – Author Carlo Carrasco

US State Department Flags Corruption In The Philippines As Barrier To Investment

October 9, 2025October 10, 2025carlocarrasco

Corruption is sadly deeply rooted here in the Philippines. So much so, the State Department of the United States flagged corruption as a barrier to investment in the Philippines, according to a GMA Network news report. To be clear, there have been economic forecasts about the Philippine economy growing less than 6% this year (possibly ending below the national government’s declared targets) and the US State Department published its detailed report about the country and investment online. As a lot of people are angry over corruption, tremendous economic damage of P1.7 trillion in market capitalization was wiped out (update: the Securities and Exchange Commission chairman apologized for stating the P1.7 trillion figure).

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

The United States Department of State has flagged “pervasive” corruption in the Philippines as among the major barriers to foreign investment in the country.

In its 2025 Investment Climate report, the US State Department said “corruption is a pervasive and long-standing problem in both the public and private sector” in the Philippines.

It also cited the country’s rank of 114th out of 180 countries on Transparency International’s 2024 Corruption Perceptions Index and “remaining around that level since 2019.”

The State Department added that the World Economic Forum also flagged corruption as among the top problematic factors for doing business in the Philippines.

“The Philippines’ complex, slow, redundant, and sometimes corrupt judicial system inhibits the timely and fair resolution of commercial disputes,” it said.

“Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment. Investors often decline to file cases in court because of slow and complex litigation processes and fears of corruption. Stakeholders report an inexperienced judiciary when confronted with cases involving complex issues such as technology or science,” it added.

The State Department also said its embassy in Manila has received multiple reports from US businesses of overly invasive searches, inconsistent customs charges, and solicitations of “facilitation fees” (such as bribes) from some customs officials.

To see the entire 2025 Investment Climate Statements about the Philippines, click https://www.state.gov/reports/2025-investment-climate-statements/philippines

Let me end this post by asking you readers: What is your reaction to this development? Do you think the US State Department’s 2025 Investment Climate report about the Philippines is true and accurate? Are you concerned that the perceived corruption as well as the shocking revelations about the flood control projects scandals are already discouraging foreign investors from investing in the country? Do you think the Trump tariffs will eventually bring down Philippine exports to the United States in the next few months? What do you think the Philippine government should do to wipe out corruption and regain the trust of foreign investors?

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

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Asian Development Bank Sees Philippine Economy Growing Less Than 6% This Year

October 9, 2025September 30, 2025carlocarrasco

The Asian Development Bank (ADB) predicted that the economy of the Philippines will achieve growth of less than 6% this year, according to a GMA Network news report.

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

The Asian Development Bank (ADB) has maintained its economic growth outlook for the Philippines this year on the back of sustained domestic demand despite global trade uncertainties.

In the September 2025 edition of its flagship Asian Development Outlook (ADO), the ADB said it forecasts the country’s gross domestic product (GDP) to grow at 5.6% for 2025, maintained from the ADO July edition’s outlook.

The multilateral lender said that “robust domestic demand amid subdued inflation will support Philippine economic growth this year and the next.”

“The Philippines’ growth outlook remains resilient amid a global environment of shifting trade and investment policies and heightened geopolitical uncertainties,” said ADB country director for the Philippines Andrew Jeffries.

“Though these uncertainties pose increased risk, we see strong domestic demand anchoring growth, with sustained investments and an accommodative monetary policy supporting the economy’s expansion,” said Jeffries.

For 2026, the ADB said it sees the Philippine economy to grow at 5.7% — the same level as the country’s actual growth rate in 2024.

Nonetheless, the bank said the country is expected to remain a bright spot in Southeast Asia, “with the second highest GDP expansion in the region.”

Moreover, the ADB said it forecasts inflation to ease at 1.8% this year, before rising to 3% in 2026 to return to the government’s target range of 2% to 4%. The latest 2025 inflation forecast is lower from July’s 2.2%.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippine does not have any more momentum to grow at least 6% this year? Are you concerned that the flood control projects scandal and government corruption here in the Philippines will turn away foreign investors?

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

+++++

Weaker Business Sentiment In The Philippines

October 7, 2025September 30, 2025carlocarrasco

Recently the Bangko Sentral ng Pilipinas (BSP) conduct its own survey which revealed that business sentiment in the Philippines became less optimistic during the 3^rd quarter, according to a BusinessWorld news report.

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

Philippine businesses turned less optimistic about the economy in the third quarter amid bad weather and sluggish demand during “ghost month,” a survey by the Bangko Sentral ng Pilipinas (BSP) showed.

Based on its latest Business Expectations Survey, the overall confidence index (CI) for businesses fell to 23.2% in the third quarter, down from the 28.8% in the second quarter and the 32.9% in the same quarter last year.

A positive CI indicates that more respondents are optimistic than pessimistic. However, this was the lowest CI seen since the 23.9% recorded in the fourth quarter of 2022. The business confidence index has been on a decline for three consecutive quarters.

“Philippine businesses were less optimistic about the economy in the third quarter of the year,” the BSP said in a statement. “Their dampened confidence was primarily attributed to the slack in demand during the ‘ghost month’ and the onset of the rainy and typhoon season.”

This year, “ghost month,” the seventh month in the Chinese lunar calendar, ran from Aug. 23 to Sept. 21. Some investors avoid making big investments or decisions during this period.

The country also experienced heavy rains and flooding brought by several tropical storms and the southwest monsoon from late July to early August.

“Global headwinds, such as higher US tariffs, geopolitical tensions, and weaker foreign demand, also weighed on business confidence,” the BSP said. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7.

At the same time, business confidence for the fourth quarter improved to 49.5% from 39.3% previously, as a surge in consumer spending is usually seen ahead of the holidays. The overall business outlook for the next 12 months eased to 48.1% from 51% the previous quarter.

“Despite the lower year-ahead CI, it remained positive, reflecting businesses’ continued optimism about near-term economic prospects,” the BSP said.

Businesses surveyed also see the peso appreciating against the US dollar in the fourth quarter and over the next 12 months but expect inflation to accelerate further.

“Firms also expect inflation over the next 12 months to remain within the National Government’s target range, indicating firmly anchored business inflation expectations. Within-target inflation supports investments and job creation,” the BSP said.

Businesses expect inflation to have settled at 2.1% in the third quarter, and picking up to 2.3% next quarter, and 2.4% in the next 12 months.

The central bank surveyed 1,523 firms nationwide, 580 of which are in the National Capital Region (NCR) and 943 in areas outside NCR, from July 4 to Aug. 17.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines will somehow slow down in the 4^th quarter?

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

+++++

S&P Global Ratings Says Philippine Economy Will Grow Only 5.6% This Year

October 3, 2025September 24, 2025carlocarrasco

2025 continues to look rough for the Philippines. A lot of people are angry over government corruption and the flood control projects scandal investigation is only adding fuel to the fire. When it comes to economic growth, S&P Global Ratings says the economy of the Philippines will grow by only 5.6% this year, according to a Philippine Star news report.

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

S&P Global Ratings has trimmed its growth forecast for the Philippines to 5.6 percent this year from its earlier 5.9 percent estimate, citing subdued private consumption and investment alongside persistent global uncertainties.

The downgrade reflects weaker-than-expected momentum in the first half, when Philippine gross domestic product (GDP) grew by 5.4 percent. This was faster than many economies in Asia, but still below trend and short of expectations.

“Private consumption growth, investment and household confidence are still relatively subdued,” S&P economist Vince Conti told The STAR.

“We expect that both global and domestic uncertainty would continue to weigh on investment growth in the near term,” Conti said.

S&P’s latest projections show the country’s GDP growth will hit the government’s 5.5 to 6.5 percent target for 2025.

The credit watcher also sees growth picking up to 5.8 percent in 2026, though this remains below the government’s more ambitious six to seven percent goal for next year.

Conti noted, however, that the country’s reliance on external demand comes more from services rather than goods trade, which provides a degree of resilience against heightened global trade frictions.

“This will partially mitigate the impact of the elevated trade tensions,” he said. “On the positive side, with inflation low and likely to remain under control in the next few years, the Bangko Sentral ng Pilipinas (BSP) has room to continue its easing path to support growth.”

S&P expects Philippine inflation to average 1.8 percent in 2025, sharply down from 3.2 percent last year, before rising moderately to three percent in 2026 and 3.3 percent in 2027.

The credit watcher is penciling in around 100 basis points of further policy rate cuts by the BSP between now and end-2026, which could help shore up domestic activity.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines does not have enough momentum to achieve 6% growth this year? Do you think that any rise of inflation will hamper economic growth?

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

+++++

UA&P Sees Stronger Q3 Economic Growth for the Philippines Despite Trump Tariffs

September 1, 2025August 25, 2025carlocarrasco

As far as the University of Asia and the Pacific (UA&P) is concerned, the economy of the Philippines will still grow stronger in the 3^rd quarter by 5.8% despite the 19% Trump tariffs, according to a BusinessWorld news report.

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

PHILIPPINE economic growth may pick up in the third quarter despite higher US tariffs and “milder” typhoons, the University of Asia and the Pacific (UA&P) said.

“Despite the Trump tariffs, milder typhoon season will help accelerate GDP expansion in Q3 to 5.8%, given a low base in 2024,” it said in its latest The Market Call released on Friday.

If realized, this would be faster than 5.2% in the third quarter of 2024 and 5.5% print in the second quarter. This forecast is also within the government’s revised 5.5% to 6.5% target this year.

“Consumer spending remains strong, aided by low inflation but limited by new US taxes on OFW (overseas Filipino Worker) remittances,” UA&P said.

Inflation cooled to a near six-year low of 0.9% in July as utilities and food costs continued to ease. This brought the seven-month average to 1.7%, slightly below the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target band.

UA&P said government infrastructure spending may also regain momentum in the third quarter. This was after state spending slumped due to the 45-day election ban on public works spending from March 28 to May 12.

UA&P said residential construction will remain subdued due to elevated policy and interest rates.

The Bangko Sentral ng Pilipinas (BSP) has so far lowered borrowing costs by a total of 125 basis points (bps) since it began its easing cycle in August last year. The policy rate now stands at 5.25%.

UA&P said the US dollar rate will “move either way” depending on rate cuts by the BSP and the US Federal Reserve.

“The peso-dollar rate has a fundamental depreciation bias although it will depend much on extent and timing of policy rate cuts by BSP and the Fed,” it said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will be able to grow stronger in the 3^rd quarter even though the 19% Trump tariffs are already in effect? Do you see any signs of Philippine exports to America slowing down already?

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

+++++

Philippine Economy Grew by 5.5% in 2nd Quarter of 2025

August 9, 2025August 7, 2025carlocarrasco

The economy of the Philippines expanded by 5.5% during the 2^nd quarter of 2025, according to a GMA Network news report. Among the factors are strong 2^nd quarter gains by the agriculture, forestry, fishing, industry and services sectors.

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

The Philippine economy grew marginally quarter-on-quarter in the second quarter of 2025 amid the growth seen in services, agriculture, and industry sectors, and posted a deceleration from the same period last year, according to the Philippine Statistics Authority (PSA).

The country’s gross domestic product (GDP) — the value of goods and services produced in a period — grew slightly faster by 5.5% in the April to June 2025 compared to the 5.4% growth seen in the January to March 2025 period, PSA chief and National Statistician Claire Dennis Mapa reported at a press conference in Quezon City on Thursday.

The second quarter GDP growth was the fastest in four quarters, however, it was still slower than the 6.5% growth rate in the same period in 2024.

All major economic sectors posted annual growth during the quarter — agriculture, forestry, and fishing with 7.0%, industry with 2.1%, and services with 6.9%.

The PSA attributed the year-on-year growth to wholesale and retail trade, repair of motor vehicles and motorcycles with 5.1%; public administration and defense, and compulsory social security with 12.8%; and financial and insurance activities with 5.6%.

Fixed capital investments climbed 2.6%, led by private construction which grew 11.2%, and investments in durable equipment up 10.6%.

Government spending posted an 8.7% growth rate during the quarter, slower than the 18.7% seen in the first quarter, which Department of Economy, Planning, and Development (DepDev) Secretary Arsenio Balisacan attributed to the election spending ban.

“We expect to maintain that momentum in the spending side. I think that the next half, the second half of the year, you should see improvements in the construction, public construction spending,” he said in a briefing.

While the election spending ban hit government spending, officials said the campaigns boosted household spending which grew by 9.5%, faster than the 5.29% in the previous quarter, and the 5.4% in the second quarter of 2024.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will be able to accelerate to achieve 6% gross domestic product (GDP) growth for the entire year?

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

+++++

ADB sees Philippine economy growing by 5.6% this year

August 1, 2025July 24, 2025carlocarrasco

By pointing to a variety of factors, the Asian Development Bank (ADB) recently announced that the economy of the Philippines will grow by 5.6% this year, according to a news article by the Philippine News Agency (PNA). The ADB recently released its latest economy report.

To put things in perspective, posted below is an excerpt from the first PNA news article. Some parts in boldface…

The Philippines is expected to post the second highest economic growth in Southeast Asia this year despite the downgrade in growth outlook due to external headwinds, a report released by the Asian Development Bank (ADB) showed.

In its Asian Development Outlook July 2025 report released on Wednesday, the ADB said Philippine economic growth is expected to settle at 5.6 percent this year.

The growth outlook for the Philippines is the second highest in Southeast Asia, next to Vietnam’s 6.3 percent. Indonesia is projected to grow by 5 percent, Malaysia by 4.3 percent, Singapore by 1.6 percent, and Thailand by 1.8 percent.

For 2026, growth is expected to slightly pick up to 5.8 percent.

The ADB’s latest projection, however, was lower than its 6 percent for 2024 and 6.1 percent for 2025 economic growth forecast amid external headwinds. The Philippine economy grew by 5.4 percent in the first quarter of the year.

“Domestic demand grew 6.7 percent, supported by easing inflation and monetary policy. However, net exports dragged on growth as brisk imports outpaced exports,” the ADB said. It added that manufacturing index (PMI) recovered slightly to 50.7 in June from 50.1 in May.

“Consumer sentiment was positive in the near term. Unemployment was low at 3.9 percent in May, and remittance growth of 3.0 percent helped sustain household spending,” it said.

The ADB, however, said that business confidence softened amid heightened global policy uncertainties.

According to the ADB, economic forecasts for most countries in Southeast Asia have been downgraded for 2025 and 2026 due to the continuing global growth slowdown and increased trade uncertainty.

“Weaker external conditions have hurt business and consumer sentiment and threaten to disrupt investment in the subregion,” it said.

“Except for Indonesia, the largest economy in the subregion, all Southeast Asian economies are expected to post weaker growth in the next two years.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it is still possible for the economy of the Philippines reach 6% GDP growth by the end of 2025?

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

+++++

Domestic travel leading recovery of Philippine tourism industry

July 15, 2025July 11, 2025carlocarrasco

While it is a fact that the Philippines is failing on attracting visitors from overseas, the real estate advisory firm Leechiu Property Consultants (LPC) pointed to domestic travel as the key to the industry’s recovery, according to a news article by the Philippine News Agency (PNA).

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

Domestic travel continues to lead the recovery of the Philippine tourism industry, with its receipts able to make up for the “shortfall” in international arrivals, real estate advisory firm Leechiu Property Consultants (LPC) said Thursday.

“Domestic travel is so big. It’s so big and strong that it can make up for, now in the short term, the shortfall of international arrivals,” Alfred Lay, LPC director for Hotels, Tourism, and Leisure, said during the presentation of the LPC Q2 2025 Philippine Property Market Report in Makati City.

“It can do that for a long time, and the long-term goal for domestic tourism would probably to double (its) size within the next five to 10 years.”

Lay noted that domestic tourism expenditure in 2024 reached PHP3.16 trillion, surpassing the pre-pandemic level of PHP3.14 trillion in 2019. Tourism contributed 8.9 percent of the country’s gross domestic product (GDP) last year.

International tourism expenditures, on the other hand, stood at PHP699 billion, up from PHP600 billion pre-pandemic levels, despite missing the 2024 targets.

In an interview, Lay said he expects inbound arrivals this year to reach at least six million.

He noted that the arrival of South Korean visitors, the Philippines’ top market, has seen a decline in the past five months, likely due to the “negative media coverage” in South Korea over security issues in the country, but long-haul tourists are increasing and have offset the decline.

According to the LPC report, Korean arrivals in the first five months of 2025 dipped 19 percent to 552,000 from 682,000 in the same period last year, while inbound arrivals from the United States, Japan, Australia, and Canada surged between 9 percent and 19.4 percent.

Additional routes and flight frequencies, he said, are likewise expected to sustain this upward momentum.

Meanwhile, Lay addressed news coverage about the affordability of travel to the Philippines, stating that the country only ranks in the “middle of the pack” in terms of hotel average daily rates (ADR) compared to Southeast Asian neighbors and competitors.

The LPC report showed that the Philippines ranks fourth in hotel ADR at PHP6,048, with Thailand (PHP8,171), Cambodia (PHP6,591), and Vietnam (PHP6,359) in the top three places.

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 will do better this year with domestic travel as the main factor? Do you think it is still possible for the Philippines to attract at least six million foreign tourists by the end of this year? Do you think both the national government and private sector should work together to improve local infrastructure so that the cost of travel will go down?

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

+++++

Nomura trims Philippine economic growth forecasts for 2025 and 2026

May 16, 2025May 14, 2025carlocarrasco

As far as the Nomura Global Markets Research is concerned, the economic growth of the Philippines will for 2025 and 2026 will end up weaker than previously expected, according to a BusinessWorld news report.

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

NOMURA GLOBAL Markets Research has trimmed its gross domestic product (GDP) growth forecasts for the Philippines for this year and 2026 following the weak first-quarter expansion.

Nomura cut its Philippine economic growth forecast to 5.3% for this year from 5.9% previously, it said in a report dated May 9. It also slashed its 2026 projection to 5.6% from 6.1%.

Both projections are well below the Development Budget Coordination Committee’s 6-8% growth target for 2025 until 2028.

“Our 2025-26 GDP forecast revisions take into account the disappointing first-quarter outturn, which only rose slightly to 5.4% year on year from 5.3% in fourth quarter 2024, despite election-related spending,” Nomura analysts Euben Paracuelles and Nabila Amani said in the report.

“Escalating global trade and geopolitical tensions are the main downside risks to growth. A faster rollout of infrastructure projects and lower oil prices are upside risks.”

The Philippine economy expanded by 5.4% in the first quarter, the government reported last week. This was a tad faster than the revised 5.3% in the previous quarter but sharply slower from the 5.9% growth in the same period in 2024.

Department of Economy, Planning, and Development Undersecretary for Policy and Planning Group Rosemarie G. Edillon said that GDP would need to grow by 6.2% for the rest of the year to reach the lower end of the 6-8% goal.

Based on its forecasts, Nomura expects the Philippines to post below-6% GDP growth for the rest of the year. Broken down, it sees GDP growth of 5.3% in the second quarter, 5.4% in the third quarter, and just 5% in the fourth quarter.

In 2024, the economy expanded by 6.5% in the second quarter, 5.2% in the third quarter, and 5.3% in the fourth quarter.

“A key source of the downside surprise [in the first quarter] was investment spending growth, which we believe suggests businesses have already turned cautious amid surging global trade uncertainty, even in a less open economy,” Nomura said.

“We expect a moderate pickup in real GDP growth in 2026, led by the government’s strong push for more progress on infrastructure projects.”

It added that it expects the country to post a current account deficit of 4.1% of GDP this year and 4.4% of GDP next year, wider than the 3.8% ratio in 2024, driven by an increase in capital goods imports amid the government’s infrastructure push and weaker exports due to the US’ tariffs.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines can still grow stronger than what Nomura predicts in 2025 and 2026? Do you think the national government should make new economic moves to stimulate the national economy while also attracting new foreign investors?

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

+++++

Philippine economy grew by 5.4% in 1st quarter of 2025

May 12, 2025May 8, 2025carlocarrasco

The Philippine Statistics Authority (PSA) announced that the economy of the Philippines grew by 5.4% in the first quarter of this year, according to a GMA Network news report.

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

The Philippine economy expanded faster in the first three months of 2025 amid the growth seen in services, industry, and agriculture sectors, according to the Philippine Statistics Authority (PSA).

The country’s gross domestic product (GDP) —the value of goods and services produced in a period— grew faster by 5.4% in the first quarter of 2025, higher than the upwardly revised growth rate of 5.3% in the last quarter of 2024, PSA chief and National Statistician Claire Dennis Mapa reported at a press conference in Quezon City on Thursday.

This was also the fastest GDP growth rate seen since the third quarter of 2024, albeit slower than the 5.9% growth recorded in the first quarter of 2024.

At constant prices, the economy reached a value of P5.477 trillion during the period, up 5.4% from P5.196-trillion GDP seen in the same quarter last year.

Department of Economy, Planning and Development Undersecretary Rosemarie Edillon said the country’s GDP needs to increase by 6.2% in the remaining quarters of 2025 to hit at least the lower-end of the. government’s growth target of 6% to 7% for the year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines can still grow by 6% by the end of the year? Do you think election spending will add a lot to economic growth?

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

+++++

	Shaman Tiers on A Look Back at Fatale #1 …
	Luke on Trump Administration Weighs Hi…
	Instapundit »… on Trump Administration Weighs Hi…
	Roaming Rhonda on Christian Music Appreciation:…
	Instapundit »… on Trump Administration Rescued O…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: