{"id":148803,"date":"2018-01-25T04:31:29","date_gmt":"2018-01-25T09:31:29","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=148803"},"modified":"2018-01-25T04:31:29","modified_gmt":"2018-01-25T09:31:29","slug":"bmi-research-forecasts-sustained-6-level-growth-for-ph","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/25\/bmi-research-forecasts-sustained-6-level-growth-for-ph\/","title":{"rendered":"BMI research forecasts sustained 6% level growth for PH"},"content":{"rendered":"
\"BMI<\/a>
BMI Research eyes a 6.3 percent growth in 2018 and 6.2 percent in 2019 – – levels that the research entity considers \u201crespectable.\u201d (Pixabay photo)<\/a><\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2014 The research subsidiary of Fitch Group projects the sustained robust expansion of the Philippine economy on back of the government\u2019s infrastructure program, favorable demographics and increased trade with China.<\/p>\n

BMI Research eyes a 6.3 percent growth in 2018 and 6.2 percent in 2019 – – levels that the research entity considers \u201crespectable.\u201d<\/p>\n

These are lower than the 6.7 percent output, as measured by gross domestic product (GPD), that the economy posted in 2017.<\/p>\n

\u201cWe emphasise that the 6+% GDP expansion is still strong by regional and historical standards and this will be supported by positive demographic trends, a strong public infrastructure drive, and deepening economic cooperation with China,\u201d the study said.<\/p>\n

However, BMI Research cited as risk to growth the deteriorating business environment, citing that the seven percent growth in the third quarter of 2017 will \u201cunlikely to continue as leading financial market indicators were showing signs of fatigue while the business environment has been deteriorating.\u201d<\/p>\n

This deterioration, it said, is expected to hamper further improvement on private sector investment in the next quarters.<\/p>\n

It noted that growth of fixed capital formation declined to 10.3 percent in 2017 from year-ago\u2019s 25.2 percent, with construction rising only by 5.7 percent from 2016\u2019s 15.1 percent and durable equipment by 12.2 percent from year-ago\u2019s 34.5 percent.<\/p>\n

Amidst these risks, BMI Research remains optimistic on the domestic economy\u2019s growth, which is expected to get additional lift from the tax reform program, the first package of which is for implementation starting January this year.<\/p>\n

Package 1 of the Tax Reform for Acceleration and Inclusion (TRAIN) law cuts personal income tax in the country, making workers\u2019 first PHP250,000 annual income tax free. Impact of this on government revenues will be countered by excise tax hikes on fuel and sugar-sweetened beverages, among others.<\/p>\n

The first tax reform package is estimated to generate around PHP82.3 billion additional revenues for this year alone, and this, the study said, is a plus on the government\u2019s program to increase infrastructure investment.<\/p>\n

\u201cThis will likely go some way in improving the country’s poor infrastructure, which has long prevented the Philippines from reaching its growth potential,\u201d it added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2014 The research subsidiary of Fitch Group projects the sustained robust expansion of the Philippine economy on back of the …<\/p>\n","protected":false},"author":33,"featured_media":129439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[32782,44707],"class_list":["post-148803","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bmi-research","tag-bmi-research-forecasts-sustained-6-level-growth-for-ph","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/148803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=148803"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/148803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/129439"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=148803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=148803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=148803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}