Alicia Garcia-Herrero of Natixis says 2023 will be “rather good” for the Philippines, compared with the rest of the region.
Philippine economy will grow more than India’s this year, says economist
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Alicia Garcia-Herrero of Natixis says 2023 will be “rather good” for the Philippines, compared with the rest of the region.
Today, the Philippines officially announced its GDP growth. Q4 of 2022 grew 7.2%, making the whole 2022 economy rose to 7.6%
Potentially, Philippine GDP growth might even hit 7%.
The new administration is surprisingly more capable than thought of before the May, 2022 elections.
Nobody knew the capability of Marcos since the media abstains from having any positive news of him. I personally thought he would be just like benigno Aquino 3rd where he would just maintain status quo, which proved to be wrong.
It’s too early to tell. Give him 2 or more years. That’s the time to actually benchmark Marcos Jr.’s performance. I’d say the recent uptrend in PH GDP was the natural effect of strong domestic consumption brought by the holiday season and because since time immemorial, PH has been consumption driven. Exports now are not good as mentioned in the video so the consumption factor which we have is the one that’s pushing our GDP. We have to be ready though, and diversify and be more export oriented like our neighbors in preparation for full global recovery post pandemic.
I hope so, PHils need 7% plus consecutive annual growth to reduce the poverty and improve purchasing power of ordinary Filipinos. At least BBM seem to know the problems that need tackling.
@Melody L If we can reduce inflation ro 4% which the Government says might be possible in the 2nd half of the year, annual growth of 6-6.5% would help greatly reduce poverty.
Let’s see if we can do it. At any rate, despite the myriad of problems the Country is facing, things are really looking up for the Philippines under the Marcos Jr administration.
Agree on that
We are not export oriented but Filipinos are SERViCE ORIENTED, that would help boost our economy.
@Ilove Yes, tourism might be one of the strong suit for the Philippine economy this year and beyond. If the agriculture and energy sector will be fixed by the government the Philippines growth will be even better but it is a long term plan.
@Dionium The Philippine tourism industry is not overhyped; it is not even at its peak or even developed. It has a long way to go before it will have a big impact on the economy, so how is it overhyped?
Still not enough, export have more significant contribution to growth just like happening in Vietnam that they already surpassed PH, thanks to Less FDI restriction, lesser costs of energy.
@RQ entrep our OFWs are the best exports of our country so technically, we do export our services. In additiion, I believe our tourism sector is going strong and that will also help to boost our economy.
Tourism infrastructure is one key to add the growth, start shoveling the bridges in the Visayas region, making it the tourism hub, let the Luzon Area take care of the manufacturing, we want agricultural industry to strive Mindanao is a land lock country
Lol thats Because Phillipines grew -9.5 percent in 2020 and 5.7 percent in 2021 which means that there is still a lower base left for 2022. Which means that 7.6 percent in 2022 is more like 5 ish percent growth. Meanwhile while India grew -6.6 percent in 2020 it recover fully in 2021 with 8.7 percent in 2021 and in 2022 it will grow 7 percent which is a normal base growth
Tru 💯
@C Y in your dreams👌
Same as the rest of the world, but Philippines still pulled a very high positive growth last year compared to other developing countries.
Nag mamarunong haha di ka naman economist
@C Y 1700 island
Philippines has been recently most talked country in the world in terms of having great economic track while most of countries in the world are still in trouble due to worldwide inflation for basic commodities.
@WHITE SKY what’s there to comprehend about ur comment? lol u think ur smart from one sentence?
@Manu first learn how to properly construct a sentence, and stop being pathetic hahaha why do you react like you are one of those filipinos, it’s seems like you’ve been affected in his/her comment😂😂
@WHITE SKY Pinklawans, who else…
@Jay Evan this is the problem with filipinos. Everywhere you go you really want to include politics in it.
@Jay Evan Do not include politics here in this discussion. The gain PH now enjoys because our country benefitted from the policies of the previous admin(S), take note of the capital s and count the former presidents we had. If you want politics here, the current administration can not yet take full credit for this success.
CONGRATULATIONS PHILIPPINES🎉🎉🎉🎉🎉🎉🎉🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭
The current government in the PH is really pushing to invite more FDI thus opening the market to 100% ownership is a win-win path.. The main concerns is PH is still trying to be food selfsufficient. If just accept the fact that we rely more on food import just like our neighbors, then commodity prices will likely to go down but yeah too much reliant on imports of food is scary.. Also, if only the PH focus in opening the mining sectors like OIL and GAS in Mindanao and West PH Sea will surely propel the economy Upward but the wealth should be distributed to the source itself. Dont be like Sabah, they are rich in oil but the poorest state 😂
Main factors for PH hindering it’s growth potential:
1. Corruption (No need for further elaboration. Res ipsa loquitur).
2. Red tape/Bureaucracy (This leads to inneficiency as there is no uniform and consistent procedure for foreign businesses to invest in the country. You would still hear about customs issues from time to time and ease of doing business needs to be made more competitive)
2. Pro-Oligarchy Constitution (there are initiatives to open up such as amendments to the Public Service Act, but more needs to be done. The Cory Constitution being the main hindrance)
3. Uneven distritbution of economic prosperity (almost all concentrated in NCR)
4. Insufficient aid/assistance to low income families (there are still no consistent program to alleviate the housing for the poor as well as their social and health concerns)
How can the food prices go down if you dont have control over the supply since you want to just import? Problem with importing is you lose control over supply chain. It’s better to have your production onshore esp geopolitical tensions in the region is rising (tawian/west ph sea). If neighboring country decides to fuck us off our food supply it will be an existential crisis for the ph
Philippines needs to focus on tech rather than low paying manufacturing. Once there is tech manufacturing would be easy.
Onions statements
Bitter hahah
Congratulations!!
Philippines will be the next SG!
What is SG again?
@Juancho Resultay Savage Garden
@Jeff Rey Panaligan what does savage garden mean like powerful or something bold?
Sagana sa gulay in singapore
That moment when foreigners are more optimistic than locals. Yes, there are problems like inflation, supply chain vunerabilities, and alot of uncertainty, but it’s better to build on small wins like this and keep the momentum by solving each problem.
The only people that talks shit about Philippines are Filipinos unfortunately. 😹
Philippine inflation for the whole of 2022 was at 5.8%.
PBBM lang Malakas 🇵🇭 mga Tukmol na Anti Marcos Iyak na kayo 🤣
The market growth indicators does very little in narrowing the equality gap. Growth should be measured by quality of life
The economy of the Philippines will grow day by day. This will surprise us all in the future.
Thanks to Len len and Kingkong for this achievement? Lol 😆
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The GDP of the Philippines hitted $425 BILLION this 2nd week of 2023, and the economic growth of Philippines expanded to 7.7% this week!! So fascinating!!
in 1980 the PHILIPPINES was the highest and richest and developed in all of Asia, but the administration change and the PHILIPPINES’ ECONOMY collapsed but when the good administration came, the ECONOMY of their country revived and improved and prospered again!!
and the president in 1980 was good and well-known, and when it came to strengthening the country, he knew the way to develop their country! and they are the number one exporter of rice, the agriculture of the PHILIPPINES used to be good, but as I said the administration was changed so all that was lost…but the good news is that the president of the PHILIPPINES is now the son of the president of In the eighties, he was the only child of the president, his name was Ferdinand Marcos Jr. so it’s really good because he also served their Government for a long time!!! and smart inherited from his father who is good at leading the country!! He is also kind to the people of their country, he gives help to the poor, he encourages many investors to invest in their country. The one who usurped the position of Marcos Senior, the father of Ferdinand Marcos jr. that Cory Aquino has defamed him all over the world including in Their country, accusing him of stealing people’s taxes so that he was able to build beautiful and large infrastructures but what they don’t know is that MARCOS has his own money so he financed the construction of infrastructures in the PHILIPPINES!!! Until now, when you go to the Philippines, you can still see the infrastructure that he built such as Trains, roads, skyways, expressways, powerplants, nuclear plants that were not used, Dams, etc. strong and long many decades have passed but you can still see it and the Filipinos are still benefiting from it these days,
The president is a really good hearted person, the whole country will never forget him!! The Filipinos are awake Now, they know the truth and will not be fooled by the leftist groups of Aquino Activists. they poisoned the child’s brain and spread bad propaganda. Aquinos are the real Dictator!!!
(2 daughters and 1 son of Ferdinand Marcos Sr.)Yes what you said is true. Thank you so much.
Agreed
In terms of Services, I’m glad that not only The US is outsourcing from The Philippines, even Australian companies are now trusting Filipinos to serve for their clients and customers through call centers. Filipinos are patient, respectful, and truly one of the best customer supports in the world.
Lets claim it. Sana nga magkatotoo . Para sa mga Pilipino at Para sa Pilipinas 🙏🏻
It will happen and it is inevitable. Nung March 2022, pinirmahan ni PRRD ung mga amyenda sa batas upang paluwagin yung Foreign Direct Investments. President Bongbong also discussed this on WEF. That’s why if pure-foreign-owned companies enter the Philippine market, the government should ramp up the quality of education so that our workers can compete with the international quality of labor, or else the Chinese mainlanders will migrate here and overtake our jobs.
Philippines will grow fast this coming years!
Philippine economy depend on scammer and sex worker . women are so active how to make easy money and easily spend
benefits of being NEUTRAL 😝🤑
Daming peenoise! 🤡
Game On Phillipines! Best of luck from 🇮🇳
mabuhay ang mga pilipino! mamatay na sana ang mga politikong mga kawatan! hahaha
with a young population, skilled and industrious citizens, Philippines will rise again! Lets tap our oil and gas resources!
Hope Munsod will watch this interview!!!
As long as politics stay out of it. The people have been working so hard.
I am an Indian and I personally think, if India wants to show its progress in double digit then India should start exploring defence industries.