Resilient Economic Growth, But Set To Moderate In 2H 2016

Economic Research	30 June 2016
Philippines
Economic Outlook
Resilient Economic Growth, But Set To Moderate In 2H 2016 The Philippines’ real GDP growth strengthened to 6.9% y-o-y in 1Q 2016, driven by a more robust domestic. Economic activities in the Philippines, in our view, are anticipated to remain resilient in 2H 2016, as the government aims to continue ramping up spending in the coming. Nevertheless, after a strong showing in 1Q, the expansion will likely slowin 2H, as election-related spending tapers off. Hence, we envisage the Philippines’ real GDP to expand by 6.3% y-o-y in 2H, down from +7.0% in 1H. For the full-year, we expect the Philippines’ real GDP growth to expand by 6.6% for 2016, from +5.9% registered in 2015. Economist:  Rizki Fajar  | +6221 29707065
To access our recent reports please click on the links below: 31 March 2016:Stronger Economic Growth in an Election Year 15 December 2015: Strong Fiscal Position to Support Domestic Demand 28 September 2015: Domestic Demand Still Resilient To Steer The Economy Ahead 24 August 2015: The Philippines Peso: Better Positioned To Weather Headwinds 30 June 2015:  Fundamentals Remain Solid With Government Spending To Anchor Growth 31 March 2015: Growth To Accelerate This Year Amid Boost From Fiscal Incentives