Macroeconomic Forecast Philippines

July 2005 | Macroeconomic Forecasts

The Philippines' economy is heading for a year of slower growth due to weakening aggregate demand and mounting political unrest. According to BMI forecasts, real GDP will expand by 4.5% in 2005 compared with last year's growth of 6.1%. Net exports will weigh down on the economy due to a slowing global economy and record-high world oil prices. Higher interest rates and falling disposable incomes will hamper private consumption and investment. During the first quarter of 2005, real GDP growth slowed to 4.6%, down from the previous quarter's 5.4%. The economy will expand by 4.1% in 2006

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