eseoulpost
BusinessPhilippines
Consumption, investment to boost PHL economy in 2018: S&P report
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2018.02.25  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   
 

MANILA - - Debt watcher S&P forecasts consumption and investments to regain their foothold as the main growth drivers of the Philippine economy this 2018.

It projects the domestic economy to expand by 6.5 percent, as measured by Gross Domestic Product (GDP), this year. This growth projection is, however, lower than the government’s seven to eight percent target for 2018-22.

“As the Q4 figures show, the resurgence of private household spending came just in time, as electronics exports were no longer able to prevent the usual negative contribution of net exports to growth,” S&P said in a report.

Last year, the domestic economy expanded by 6.7 percent, within the government’s 6.5-7.5 percent target.

Data from the Philippine Statistics Office (PSA) show that growth of the economy got its boost from manufacturing, trade, and real estate, renting and business activities in the last quarter alone.

Among the sectors, industry registered the fastest rise at 7.3 percent followed by Services, 6.8 percent; and Agriculture, 2.4 percent, which in turn, made a turn-around after a 1.3 percent drop a year ago.

S&P said growth of the economy remained resilient even at the latter part of last year  after the recovery of private consumption, which contributed less in the first three quarter of 2017.

“Interestingly, net exports detracted from growth despite the ongoing boom in electronics exports,” it noted.

Meanwhile, the credit rater is on the lookout for more developments on the country’s current account, which registered small deficits in some months of 2017 due to continued higher importation as needed by the sustained expansion of the domestic economy.

The study said the current account is also affected by slower remittance inflows and higher energy prices.

“Although we do not expect a significant widening of the deficit under our baseline, such as scenario would increase the Philippines' exposure to potential sudden capital outflows in times of market panic,” it added. (PNA)

 

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Directives of President to increase women's representation in FNC mirror wisdom of leadership says, Hazza bin Zayed
2
Uno Jeon painting exhibition opens in Seoul
3
UAE hosts IORA Workshop on financial inclusion for women entrepreneurs
4
UAE President's directives to allocate 50% of FNC seat to women hailed
5
UAE reaffirms commitment to its citizens at Bali Democracy Forum
6
Politics should remain separate from humanitarian assistance to N. Korea
7
Expo 2020 calls on People of Determination from across UAE to join its workforce
8
Mohammed bin Rashid attends Arab Social Media Influencers Awards ceremony
9
Taiwan retains ban on China-made telecom equipment: NCC
10
Taiwan to upgrade Navy ships' self-defense system against air threats
Photo News Green Biz
DEWA invites customers to take up Shams Dubai to generate onsite solar power
DEWA invites customers to take up ...
min
World Green Economy Summit to kick off in October
World Green Economy Summit to kick...
min
Abu Dhabi hosts The First Regional Biodiversity Forum in the Gulf Region
Abu Dhabi hosts The First Regional...
min
Etihad ESCO plans to reduce more than one million tonnes of carbon dioxide by 2030
Etihad ESCO plans to reduce more t...
min
Sharjah Municipality, MOCCAE discuss cooperation to protect environment
Sharjah Municipality, MOCCAE discu...
min
Photo News Sports
More history for Koreas in canoe; sport climber, hurdler grab gold medals
More history for Koreas in canoe; ...
min
Shooter wins Taiwan's 2nd gold at Asian Games (update)
Shooter wins Taiwan's 2nd gold at ...
min
Two taekwondo golds among 11 medals for S. Korea on Day 1
Two taekwondo golds among 11 medal...
min
Taiwan team wins first gold medal at Asian Games
Taiwan team wins first gold medal ...
min
(Asian Games) Koreas march together at opening ceremony
(Asian Games) Koreas march togethe...
min
FIFA Club World Cup UAE 2018 to boost nation's global sporting credentials
FIFA Club World Cup UAE 2018 to bo...
min
UAE gearing up for Asia's biggest football tournament
UAE gearing up for Asia's biggest ...
MIN
Taiwan blasts China for blocking Taichung games
Taiwan blasts China for blocking T...
min
Photo News World
More history for Koreas in canoe; sport climber, hurdler grab gold medals
More history for Koreas in canoe; ...
min
Shooter wins Taiwan's 2nd gold at Asian Games (update)
Shooter wins Taiwan's 2nd gold at ...
min
Two taekwondo golds among 11 medals for S. Korea on Day 1
Two taekwondo golds among 11 medal...
min
Taiwan team wins first gold medal at Asian Games
Taiwan team wins first gold medal ...
min
(Asian Games) Koreas march together at opening ceremony
(Asian Games) Koreas march togethe...
min
FIFA Club World Cup UAE 2018 to boost nation's global sporting credentials
FIFA Club World Cup UAE 2018 to bo...
min
UAE gearing up for Asia's biggest football tournament
UAE gearing up for Asia's biggest ...
MIN
Taiwan blasts China for blocking Taichung games
Taiwan blasts China for blocking T...
min
Photo News Opinion
S. Korea's first for-profit hospital gains approval from Jeju provincial gov't
S. Korea's first for-profit hospit...
min
Moon orders measures to strengthen presidential officials' discipline
Moon orders measures to strengthen...
min
Seoul thinks it is still possible for N.K. leader to visit S. Korea this year
Seoul thinks it is still possible ...
min
S. Korean childbirths continue to decline in September
S. Korean childbirths continue to ...
min
S. Korea to lose competitiveness in key export industries: KERI
S. Korea to lose competitiveness i...
min
Koreas agree to actively cooperate over modernizing direct phone lines
Koreas agree to actively cooperate...
min
Inter-Korean rail survey expected soon, top nuclear envoy says
Inter-Korean rail survey expected ...
min
S. Korea, U.S. still apart over splitting USFK cost
S. Korea, U.S. still apart over sp...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com