PHL growth outlook buoyed by reopening, gov’t investment plans; food inflation a drag - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 68%

United States News News

United States United States Latest News,United States United States Headlines

The growth outlook for the Philippines has improved due to the reopening of the economy and the incoming government’s apparent commitment to significant investment, but food inflation threatens to dampen the recovery, analysts said. READ:

Moody’s Analytics said in a note that first quarter gross domestic product came in stronger than expected, with more momentum promised after the lifting of mobility restrictions and capacity limits on many establishments.

“Exports have been supportive as elsewhere in the region. Policy statements from President-elect Ferdinand Marcos, Jr. indicate that infrastructure investment will accelerate as the focus returns to the ‘Build, Build, Build’ policies of the Duterte administration,” Moody’s Analytics said. For its part, Nomura Global Markets Research said one specific drag on the recovery is the rising cost of food.

The CPI basket of goods has a nearly 39% weighting for food, according to the Philippine Statistics Authority. Households in poor countries tend to devote a larger share of their spending on food.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SB Capital Investment earns valuation accreditation - BusinessWorld OnlineSB Capital Investment Corp. has secured approval from the stock exchange on its application for accreditation for purposes of issuing fairness opinions and valuation reports of listed companies and prospective initial listing applicants. READ:
Source: bworldph - 🏆 9. / 68 Read more »