{"id":150223,"date":"2018-01-31T03:11:29","date_gmt":"2018-01-31T08:11:29","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=150223"},"modified":"2018-01-31T03:11:29","modified_gmt":"2018-01-31T08:11:29","slug":"top-biz-exec-says-ph-growing-6-7-this-year-is-doable","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/31\/top-biz-exec-says-ph-growing-6-7-this-year-is-doable\/","title":{"rendered":"Top biz exec says PH growing 6.7% this year is doable"},"content":{"rendered":"
\"He<\/a>
He said that the Build, Build, Build Program would accelerate investments in the country, particularly in infrastructure.
(Pixabay photo)<\/a><\/figcaption><\/figure>\n

MANILA \u2014 A top executive of Difference Group, a global provider of multipolar advisory services, sees the Philippines to sustain its economic growth this year and 2019.<\/p>\n

Difference Group Chief Executive Officer and founder Dr. Dan Steinbock told\u00a0 Nordic businessmen during Nordic Chamber of Commerce of the Philippines general membership meeting Wednesday that the country could grow 6.7 percent, or higher, in 2018 and 2019.<\/p>\n

\u201cI think the objective 6.7 percent growth this year, and possibly even more or about the same next year, is doable,\u201d Steinbock said.<\/p>\n

He added that the economic expansion in the medium-term would be supported by the Duterte administration\u2019s Build, Build, Build Program and Comprehensive Tax Reform Program (CTRP).<\/p>\n

He said that the Build, Build, Build Program would accelerate investments in the country, particularly in infrastructure.<\/p>\n

Steinbock also commended the Duterte administration for attracting more direct investments than portfolio investments, which was done by the past administration.<\/p>\n

\u201cPortfolio investments and direct investments, you need both. But direct investments create more jobs,\u201d he said.<\/p>\n

Moreover, Steinbock said that the tax reform program would push for economic rebalancing by expanding the number of middle income individuals with the lower personal income tax rate.<\/p>\n

Steinbock added the administration\u2019s regional balancing – sustaining relations with the United States while strengthening its ties with China – likewise benefits the country.<\/p>\n

He likewise said the flow of remittances was expected to be robust this year and in the coming years as long as global economy was strong.<\/p>\n

He added that overseas Filipinos would also continue to benefit with the weaker peso, which Steinbock forecast to reach the PHP54-to-a-dollar level.<\/p>\n

On the other note, Steinbock cited some downside risks to the country\u2019s economic expansion which include US Federal Reserve hiking rates, weaker growth in China, drastic deterioration of US-China relations leaving the Philippines in the middle, new protectionism that may hit remittances; escalation of domestic divisions and large-scale natural disasters.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2014 A top executive of Difference Group, a global provider of multipolar advisory services, sees the Philippines to sustain …<\/p>\n","protected":false},"author":33,"featured_media":150230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[45388,45389],"class_list":["post-150223","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-difference-group","tag-difference-group-chief-executive-officer-and-founder-dr-dan-steinbock","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/150223","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=150223"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/150223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/150230"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=150223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=150223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=150223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}