Asia Economic Research, Centennial Asia Advisors

Asees Bajaj

Asia Economic Research

Centennial Asia Advisors

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<ul><li>The Philippines is cementing itself as Southeast Asia's fastest growing economy - posting 7.3% y/y growth.</li><li>Strong domestic demand, a flourishing BPO industry and increasing FDI make the case for higher growth going forward.</li><li>However there are indications that the current account is swinging towards a deficit, which amidst the current global mood of risk aversion will constrain foreign investment and weigh on the Peso. The multiplier effects will affect economic growth.</li><li>Political developments could add to uncertainty; Duterte's intemperate remarks and hasty decision making do not bode well for foreign relations or the resilience of Philippines' institutions.</li></ul>

The Philippines is cementing itself as Southeast Asia's fastest growing economy - posting 7.3% y/y growth.Strong domestic demand, a flourishing BPO industry and increasing FDI make the case for higher growth going forward.However there are indications that the current account is swinging towards a deficit, which amidst the current global mood of risk aversion will constrain foreign investment and weigh on the Peso. The multiplier effects will affect economic growth.Political developments could add to uncertainty; Duterte's intemperate remarks and hasty decision making do not bode well for foreign relations or the resilience of Philippines' institutions.

フィリピン：高い成長率は政策の方向性と政治に左右される