gross domestic product (GDP) – Page 5

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.

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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.

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Proposed measure to increase tax on capital gains withdrawn by DOF

May 5, 2025April 30, 2025carlocarrasco

In recent times, the Department of Finance (DOF) has withdrawn the proposed measure on increasing taxes on capital gains pointing to certain economic factors according to a GMA Network news report.

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

The proposed measure increasing taxes on capital gains, donor’s, and estate to 10% from 6% has been withdrawn as the Department of Finance (DOF) determined that there would be “no need” for additional revenue measures, citing the government’s robust fiscal position.

In a statement, Albay 2nd District Representative and House Ways and Means chairman Joey Sarte Salceda disclosed that the DOF pulled out the Government Revenues Optimization through the Wealth Tax Harmonization (GROWTH) Bill, which proposed a hike in tax rate for capital gains, donor taxes, and estate taxes.

The bill is the Marcos administration’s tweaked version of the Passive Income and Financial Intermediary Taxation Act (PIFITA), proposed by the Duterte administration as Package 4 of its Comprehensive Tax Reform Program (CTRP).

Citing a letter from the DOF, dated April 29, Salceda said the Finance Department is withdrawing the proposed measure, citing “stronger-than-expected revenue collections, a double-digit growth rate in tax collections, and steady progress toward the government’s fiscal consolidation goals.”

In a separate statement, Finance Secretary Ralph Recto said that “given our current strong fiscal performance, these are not needed at this time.”

“The government is properly managing its finances, ensuring that public needs are met without burdening the citizenry with new taxes,” he added.

‘More than sufficient’ – In particular, the Finance chief cited the 13.55% growth in total tax collections to P931.5 billion in the first quarter of 2025.

Broken down, the Bureau of Internal Revenue (BIR) posted P690.4 billion in collections, up 16.67% year-on-year; while the Bureau of Customs saw a 5.72% growth in collection to P231.4 billion during the same period.

“At this point, current revenues are more than sufficient to support our expenditure requirements. We are meeting our obligations, funding key programs, and growing the economy without having to impose new taxes on our kababayan,” Recto said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it was just right for the DOF to withdraw the measure? Do you thinking hiking capital gains tax, donor taxes and estate taxes are needed to ensure economic growth 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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ANZ Research says Philippine economic growth for 2025 could slow down to 5%

May 2, 2025April 28, 2025carlocarrasco

By pointing to the trade policies of the United States and weak private spending, ANZ Research says that the economic growth of the Philippines for 2025 could slow down to 5%, according to a BusinessWorld news report. ANZ also downgraded its growth forecasts for many other Asian economies.

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

PHILIPPINE economic growth is expected to slow to 5% this year due to the fallout from the Trump administration’s trade policy and weak private spending, ANZ Research said.

In its latest Asia Insight report, ANZ cut its gross domestic product (GDP) forecast for the Philippines to 5% this year from 5.7% previously. It also lowered its 2026 GDP projection to 5.5% from 6% previously.

Both forecasts would fall short of the 6-8% growth target set by the Development Budget Coordination Committee from this year to the next.

“Our new forecasts incorporate our expectations of direct and indirect impact of tariffs, bilateral trade agreements between the US and individual economies, revised growth estimates for mainland China and the US and potential policy response,” ANZ Chief Economist for Southeast Asia and India Sanjay Mathur said.

The downward revisions constitute a “durable shock to regional growth as US tariffs imply a long-term reduction in global trade,” he added.

President Donald J. Trump slapped reciprocal tariffs on most of its trading partners earlier this month but suspended these higher tariffs for 90 days. Only the baseline 10% tariff remains in effect.

The Philippines was hit with a 17% reciprocal tariff, though this was the second lowest in Southeast Asia, just after Singapore.

“It is likely that some Asian economies will negotiate down or even do away with the April 2 reciprocal tariffs owing to the potential damage to US growth,” Mr. Mathur said. “Even so, the uncertainty around US trade policies will constrain business activity, including hiring and investment.”

ANZ slashed its growth projection for Asia, excluding China and India, to 2.9% this year from 3.4% previously. It also trimmed its 2026 forecast to 3.3% from 3.5% previously.

ANZ also downgraded its GDP projections for all countries it covers, namely India, Indonesia, Malaysia, Singapore, Taiwan, Thailand, South Korea and Vietnam.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines will be able to negotiate with the United States on tariff and trade matters soon?

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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Finance Secretary confident with 6% Philippine economic growth this year

March 27, 2025March 19, 2025carlocarrasco

Recently, Finance Secretary Ralph Recto expressed during an interview with Bloomberg TV that the Philippine economy will grow by at least 6% this year and mentioned factors like continued infrastructure spending, low unemployment, the cutting of interest rates and more, according to a Philippine News Agency (PNA) news article.

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

Finance Secretary Ralph Recto said he is confident that Philippine economic growth would hit at least 6 percent this year.

In an interview with Bloomberg TV on Wednesday, Recto said he is banking on more interest rate cuts, infrastructure spending, and election-related spending to boost economic growth.

“We’re pretty confident that we would hit at least a 6 percent growth. The World Bank, the IMF (International Monetary Fund), and many other institutions are saying that we’re on track to 6 percent. Our macroeconomic fundamentals are very good,” said Recto.

“Unemployment is down. The middle class is growing. We’re investing more than 5 percent of GDP (gross domestic product) in infrastructure. We have elections also right now, and during elections, there’s more spending, so we’re pretty confident we hit at the very least 6 percent this year.

He said with inflation settling within the government’s 2 percent to 4 percent target range, the Bangko Sentral ng Pilipinas (BSP) has room to further reduce policy rates, which in turn, would boost consumer spending.

“Equally important, I suppose, is the reduction of interest rates. It would appear that, because inflation has been controlled in the Philippines and the inflation today is something like 2.5 percent, there is room for a rate cut in our next (meeting) so we’re in an easing cycle. It’s a high probability that we could do a rate cut also for in our next meeting,” he said.

The Monetary Board of the BSP has so far cut rates by 75 basis points last year. Recto said he is hoping that the BSP Monetary Board would deliver a 50 to 75 basis point cut this year.

“Hopefully, at the minimum 50 and probably 75 basis points, for the year that will help propel growth, consumption, and investments moving forward,” he said, adding that the rate cuts would boost economic growth by at least half a percent.

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 grow by at least 6% by the end of this year? Do you think Recto’s interview will convince foreign investors to invest in the Philippines this 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.

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UBS Investment Bank Global Research economist sees Philippine economy growing by 5.9% this year

March 5, 2025February 26, 2025carlocarrasco

A senior economist of the UBS Investment Bank Global Research stated that the economy of the Philippines will grow better this year by 5.9%, according to a Philippine News Agency (PNA) news article. In 2024, the economy grew by 5.6%.

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

Philippine economic growth is expected to accelerate this year on the back of higher investments and consumption, an economist of UBS Investment Bank Global Research said.

In a virtual briefing on Wednesday, UBS Investment Bank Global Research Senior ASEAN and Asia Economist Grace Lim said the Philippine economy is projected to grow by 5.9 percent this year from 5.6 percent in 2024.

“We see an improving growth outlook for the Philippines,” Lim said. “The underlying positive growth delta is driven by domestic demand as both investment and consumption accelerate in 2025.“

She said private investments would recover gradually as financial conditions become less restrictive and consumer sentiment gradually picks up. Solid labor income growth and the easing of food inflation will also help boost consumption growth.

“Consumption, as well, is likely to be positive amidst the improving fundamentals and the resilient labor market, which, I should add, is one of the most significant support for Philippines demand,” she said.

Lim said government spending and the continued growth in services exports would also support economic growth.

“What is also often underappreciated is the bright spot of services exports, especially in the BPO sector,” she said.

Lim said she expects the country’s BPO sector to remain resilient this year.

Higher tariffs – Asked about the impact of tariff trade escalation on the Philippine economy, Lim said the Philippines is in a “rather defensive market in the event of potential trade tariff escalation.”

“That’s because the Philippines is primarily domestic-oriented with investment as a percentage of GDP 23 percent, consumption over 70 percent. So not very trade-exposed,” she said.

She pointed out that in the case of trade tariff escalation, the Philippine peso could also be a relative outperformer in the region.

“That said, we do think that if tariffs are universal, then obviously there could be weaker prospects for currencies in general, but even in that scenario, it would not be a very big depreciation,” she said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippine economy has what it takes to grow by at least 5.9% this year? Do you think that the national economy can withstand the effects of new tariffs?

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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Economy of the Philippines grew by 5.6% in 2024

February 7, 2025January 31, 2025carlocarrasco

The economic growth of the Philippines for the year 2024 has officially been declared by national authorities at 5.6%, according to a Philippine News Agency (PNA) news article (which itself emphasized 2024 4^th quarter economic growth of 5.2%). By comparison, the national economy grew by 7.6% in 2022 and 5.6% in 2023.

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

The Philippines was the third highest-growing economy in the region in the fourth quarter of last year despite the impacts of geopolitical tensions and the series of typhoons that hit the country.

Philippine economic growth settled at 5.2 percent in the fourth quarter of 2024, bringing the full-year economic growth to 5.6 percent.

“While this falls short of our target of 6.0 to 6.5 percent, we are positioned as the third fastest-growing economy in the region, trailing Vietnam (7.5 percent) and China (5.4 percent) but outpacing Malaysia (4.8 percent),” National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon said in a briefing Thursday.

Edillon said the country faced numerous setbacks like extreme weather events, geopolitical tensions, and subdued global demand.

“While some challenges affect the entire economy, others exert pressure on specific sectors. Consequently, our economic performance in 2024 hinged on the impact of these factors on various sectors and whether we can mitigate the negative effects or enable a swift recovery,” said Edillon.

Last year, economic growth was mainly driven by the industry and services sectors.

National Statistician Dennis Mapa said that among the major economic sectors, industry and services grew by 5.6 percent and 6.7 percent, respectively, last year.

Growth in the manufacturing sector, however, was hampered by subdued global due to geopolitical tensions and the slow recovery of advanced economies. Agriculture, forestry, and fishing declined by 1.6 percent.

Edillon said the six typhoons that hit the country in the fourth quarter, caused disruptions in crop production, livestock, and fisheries. On the demand side, household final consumption expenditure expanded by 4.8 percent.

“During the fourth quarter, we had a succession of typhoons again in October until mid-November and this dampened the growth momentum and travel plans. Although we did see that there was increased spending on travel, transport, recreation and culture but still it was not enough to counter the slowdown in other expenditure items,” said Edillon.

Government final consumption expenditure, meanwhile, grew by 7.2 percent, while gross capital formation rose by 7.5 percent. Exports of goods and services went up by 3.4 percent, while imports of goods and services increased by 4.3 percent.

Building resilience – Edillon noted that the key to economic growth is to build resilience and ensure adaptability to changing preferences.

“To achieve resilient economic growth, we need to diversify our sources of growth,” she said.

Edillon cited the need to encourage more investments in sectors that require workers with higher-level skills.

To keep food inflation low and stable, Edillon said the government must anticipate potential shocks and continue to employ multi-pronged approaches.

“Looking ahead to 2025, we want to regain our growth momentum driven by strategic investments and initiatives designed to strengthen resilience and lay the foundation for long-term inclusive growth,” she said.

Edillon said the government will also ramp up efforts to further develop the country’s infrastructure and boost economic competitiveness by streamlining business processes.

According to Edillon, the government will also expand new free-trade agreements.

To support the recovery in the agriculture sector, Edillon said the government through the Department of Agriculture, will fast-track the implementation of the National Rice Program, invest in irrigation facilities, and fully utilize the increased provision for the Rice Competitiveess Enhancement Fund to improve farm productivity.

Edillon said tourism will also help boost economic growth.

“The government will explore easing visa requirements and actively participate in initiatives such as the proposed ASEAN common visa policy to enhance visitor inflows,” she said.

Edillon said the government will also strengthen the country’s talent pipeline through reskilling and upskilling programs to boost growth in the information technology and business process management (IT-BPM) sector.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that the 2024 economic growth of the Philippines ended below 6%? What do you think will help the national economy grow by at least 6% this 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.

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President Marcos signs into law VAT refund for foreign tourists

December 17, 2024December 9, 2024carlocarrasco

In a move to boost the Philippines’ standing in international tourism, President Ferdinand “Bongbong” Marcos, Jr., signed into law the priority measure of providing Value Added Tax (VAT) refund for foreign tourists, according to a Philippine News Agency (PNA) news article.

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

President Ferdinand R. Marcos Jr. on Monday signed into law a measure providing refund of Value Added Tax (VAT) for foreign tourists to attract more travelers and position the country as a “premier global shopping destination.”

Republic Act (RA) 12079 or the VAT Refund for Non-Resident Tourists will establish a VAT Refund System on locally purchased goods, Marcos said in his speech during the ceremonial signing in Malacañang.

Under the new law, tourists can claim a refund on the VAT for goods personally purchased at accredited retail outlets, provided these goods are taken out of the country within 60 days and meet a minimum transaction requirement of PHP3,000.

This initiative opens a new chapter in the Philippines’ tourism landscape, according to the President, allowing the country to compete with other tourism markets that attract tourists who are eager to take home authentic, high-quality Filipino products.

With the new law, an estimated 30 percent increase in tourist spending is projected which will benefit both large-scale industries and micro, small, and medium enterprises.

“These products tell our stories, and now, with the VAT refund, they will be able to be more accessible to global consumers, elevating once again our stature in the global market,” Marcos said.

Let me end this post by asking you readers: What is your reaction to this recent development? With the new law signed already, do you expect it to help the Philippines attract more foreign tourists as well as better spending from each of them during they stay in the country?

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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DTI executive says Philippines is unlikely to be hit by Trump’s planned tariff hikes

December 13, 2024December 3, 2024carlocarrasco

Based on available details and key factors, an executive of the Department of Trade and Industry (DTI) stated that the Philippines is unlikely to be hit by the planned tariff hikes of the returning United States President Donald Trump whose administration will formally start on January 20, 2025, according to a Philippine News Agency (PNA) news article.

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

Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said Monday that the Philippines is unlikely to be targeted by the planned tariff hikes under the incoming administration of United States President-elect Donald Trump, citing the balanced and healthy trade relationship between the two countries.

Rodolfo noted that the Philippines’ trade deficit with the US stood at USD4 billion in 2023, far smaller than the deficits the US faces with other Asian countries, including China (USD300 billion), Vietnam (USD109 billion), Japan (USD75 billion), South Korea (USD55 billion), India (USD47 billion), and Thailand (USD43 billion).

“We believe that countries with which the US has a huge trade deficit—particularly those which worsened during the past four years—will be likely targets of additional US tariffs,” he said.

He added that this puts the Philippines in a strong position as the US looks to address trade imbalances.

“With the Trump administration’s focus on reducing trade deficit, the Philippines can leverage the balanced and healthy Philippines-US trade, indicating a mutually beneficial trade relationship,” the DTI official added.

Strengthening ties – Rodolfo said DTI Secretary Cristina Roque and Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go are working closely with the US government to ensure “even closer economic relations” with the long-time ally in preparation for Trump’s assumption into office.

He also pointed out that Trump’s pick for Department of State Secretary, Senator Marco Rubio, has been a strong proponent of closer economic and strategic ties between the US and the Philippines.

Rubio filed Senate Bill 4703, or the Philippines-US Strategic Partnership Act, which aims to enhance economic relations between the two countries.

The bill, filed on July 11, 2024, proposes to negotiate a critical minerals agreement with the Philippines; to prioritize support from the US International Development Finance Corporation for projects involving critical minerals and fossil fuels in the Philippines; and to identify additional US agencies that could invest in the Philippines, including the Department of Defense’s Office of Strategic Capital.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines won’t be hit by Trump’s planned tariff hikes? Are you hoping that under a Trump presidency, the Philippines and America will be able to have a free trade agreement?

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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DBCC adjusts Philippines GDP growth targets for 2024 to 2028

December 11, 2024December 3, 2024carlocarrasco

Recently the Development Budget Coordination Committee (DBCC) adjusted its economic growth targets for the Philippines covering the next few years in relation to varied factors, 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…

THE Development Budget Coordination Committee (DBCC) on Monday trimmed the economic growth target for this year to a range of 6-6.5% but widened the target band to 6-8% for 2025 until 2028, due to “evolving domestic and global uncertainties.”

Budget Secretary Amenah F. Pangandaman, who chairs the DBCC, said Philippine gross domestic product (GDP) is now projected to grow by 6-6.5% this year, narrower than the previous 6-7% goal.

“Despite domestic challenges, we are optimistic that we can still attain our growth target for the year of 6% to 6.5%. In particular, we expect the Philippine economy to bounce back during the last quarter, given the anticipated increase in holiday spending, continued disaster recovery efforts, low inflation, and a robust labor market,” she said at a briefing after a DBCC meeting on Monday afternoon.

The DBCC’s review of the macroeconomic assumptions came after the Philippine economy expanded by a weaker-than-expected 5.2% in the third quarter, which was the slowest since the 4.3% logged in the second quarter of 2023.

In the first nine months, GDP growth averaged 5.8%. To meet the lower end of the government’s revised 6-6.5% target band, the economy would need to grow by 6.5% in the fourth quarter.

Finance Secretary Ralph G. Recto said the Philippine economy can still “realistically” grow by 6% for the full year.

“The growth assumptions for 2025 to 2028 have been given a wider band of 6% to 8%, reflecting the anticipated impact of structural reforms and evolving domestic and global uncertainties,” Ms. Pangandaman said.

To achieve the targets, she said the government is committed to “accelerating infrastructure investments, enhancing the ease of doing business, and boosting national competitiveness.”

The DBCC chair said they expect the recently signed Republic Act No. 12066 or Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act to spur faster growth and attract more foreign investments.

FISCAL program – “We have maintained our medium-term fiscal targets for 2025 to 2028. This means that we remain determined to reduce the country’s deficit in a more gradual and realistic manner, while also bolstering long-term investments that create more jobs, increase incomes, and decrease poverty incidence,” Ms. Pangandaman said.

The DBCC said it raised the deficit ceiling for 2024 to -5.7% of GDP from -5.6% previously. It kept the deficit ceiling at -5.3% of GDP for 2025, -4.7% for 2026, -4.1% for 2027 and -3.7% for 2028.

For this year, the DBCC raised the revenue outlook to P4.383 trillion in 2024 from P4.27 trillion previously. Revenue targets were kept at P4.644 trillion for 2025, P5.063 trillion for 2026, P5.627 trillion for 2027, and P6.249 trillion for 2028.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DBCC is correct with its GDP projections for the Philippines for the next few 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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