{"id":169104,"date":"2018-07-03T22:07:07","date_gmt":"2018-07-04T02:07:07","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=169104"},"modified":"2018-07-03T22:07:07","modified_gmt":"2018-07-04T02:07:07","slug":"sp-6-5-or-higher-gdp-growth-very-easily-achievable","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/07\/03\/sp-6-5-or-higher-gdp-growth-very-easily-achievable\/","title":{"rendered":"S&P: 6.5% or higher GDP growth \u2018very easily achievable\u2019"},"content":{"rendered":"
\"\u201cAnd<\/a>
\u201cAnd the reason for that is very favorable demographic trends that continue to benefit the Philippines particularly through providing a very mobile and effective labor force that has generated a lot of investments and consumption onshore,\u201d said Conti. (Pixabay photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Credit rating agency S&P Global Ratings has a bright outlook for the Philippine economy as demographics and economic policy remain conducive to the advancement of the country\u2019s gross domestic product (GDP).<\/p>\n

In a webcast Tuesday, S&P Asia Pacific Economist Vincent Conti said GDP growth of 6.5 percent and above for the next few years is \u201cvery easily achievable\u201d for the Philippines.<\/p>\n

\u201cAnd the reason for that is very favorable demographic trends that continue to benefit the Philippines particularly through providing a very mobile and effective labor force that has generated a lot of investments and consumption onshore,\u201d said Conti.<\/p>\n

Conti added that the government\u2019s economic policy \u201cseems to be very stable\u201d and is expected to have continuity.<\/p>\n

\u201cA lot of positives from the economic policy as well. The ramping up of infra program is one of the relatively newer additions to the policy toolkit and that\u2019s actually a positive in that it can generate even further potential growth farther into the future,\u201d he said.<\/p>\n

This was also echoed by S&P Director for Financial Institution Ratings Ivan Tan.<\/p>\n

Tan said businesses are likewise confident with the policy environment in the country, particularly citing the tax reform program of the administration.<\/p>\n

\u201cFor instance, for the first time in quite a number of years seen some degree of tax reforms being carried out in the Philippines,\u201d said Tan.<\/p>\n

\u201cThis is expected to go on over the remaining years of the administration, which would serve to some extent stabilize the government\u2019s revenue base and at the same time, hopefully provide more funds for infra which we think everyone agrees the Philippines does need,\u201d he added.<\/p>\n

For S&P Senior Director for Sovereign Ratings and International Public Finance Kim Eng Tan, he noted that the second package of the tax reform program is \u201cunlikely to directly affect\u201d its rating for the country.<\/p>\n

\u201cThe key thing we are looking at tax reform is that if the government actually has the ability to carry this out,\u201d he said.<\/p>\n

\u201cTo the extent that this shows greater proactiveness on the part of the policy makers and an improvement in the institutional and governance support for the sovereign ratings, it\u2019s one of the reasons why we now have a positive outlook for the Philippines\u2019 sovereign rating,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Credit rating agency S&P Global Ratings has a bright outlook for the Philippine economy as demographics and economic policy …<\/p>\n","protected":false},"author":33,"featured_media":168393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[615,41025,52624],"class_list":["post-169104","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-gdp","tag-sp-global-ratings","tag-vincent-conti","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/169104","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=169104"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/169104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/168393"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=169104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=169104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=169104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}