Macroeconomic Forecast Philippines

May 2005 | Macroeconomic Forecasts

The Philippine economy will slow in 2005 amid weaker external and domestic demand. Real GDP will expand 4.7%, according to BMI forecasts, compared with last year's growth of 6.1%. Net exports, which in 2004 contributed 2.6 percentage points to GDP growth , will subtract 1.1 percentage points in 2005. The central bank will raise interest rates again this year after hiking its overnight lending rates by a quarter point on April 7 to 9.25%, the first rate rise for four years. The economy will expand 4.0% in 2006.

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