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Economic
Research
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1
August 2017
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Philippines
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Economic Update
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The
Philippines’ broad money supply (M3) growth rose 13.2% YoY in June,
attributed to a pick-up in net domestic claims. Going forward, we expect
broad money to grow at a more moderate pace of 10% in 2017 (2016: +12.7%), in
line with a projected softer economic growth.
Private
credit rose in June. Total loan growth picked up on account of faster growth
in loans extended to businesses. Going forward, however, we expect demand for
private credit to moderate somewhat to 15.8% in 2017 from 17.4% in 2016. This
is on the back of expectations of a more moderate economic growth.
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Wednesday, August 2, 2017
M3 And Loan Growth Rise in June
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