{"id":187217,"date":"2018-10-27T07:04:17","date_gmt":"2018-10-27T11:04:17","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=187217"},"modified":"2018-10-27T07:04:17","modified_gmt":"2018-10-27T11:04:17","slug":"gdp-grow-6-3-2018-7-2019-bpi","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/10\/27\/gdp-grow-6-3-2018-7-2019-bpi\/","title":{"rendered":"GDP to grow 6.3% in 2018, 7% in 2019: BPI"},"content":{"rendered":"<figure id=\"attachment_106245\" aria-describedby=\"caption-attachment-106245\" style=\"width: 550px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/06\/1497681_665878726791636_898474904_n.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-106245\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/06\/1497681_665878726791636_898474904_n.png\" alt=\"\" width=\"550\" height=\"551\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/06\/1497681_665878726791636_898474904_n.png 550w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/06\/1497681_665878726791636_898474904_n-150x150.png 150w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/06\/1497681_665878726791636_898474904_n-300x300.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-106245\" class=\"wp-caption-text\">Emilio Neri Jr., Vice President and lead economist at the Bank of the Philippine Islands (BPI), said full-year gross domestic product (GDP) will likely expand slower this year, but the economy will continue to grow much faster than many of its peers in Southeast Asia. (<a href=\"https:\/\/www.facebook.com\/bpi\/photos\/a.368545596524952.81547.363765923669586\/665878726791636\/?type=1&amp;theater\">Photo<\/a>: <a href=\"https:\/\/www.facebook.com\/bpi\/\">BPI\/Facebook<\/a>)<\/figcaption><\/figure>\n<p><strong>MANILA<\/strong>\u00a0&#8212; The Philippine economy is expected to grow by 6.3 percent this year and accelerate close to 7 percent in 2019, underpinned by the government\u2019s infrastructure push as well as election-related spending.<\/p>\n<p>Emilio Neri Jr., Vice President and lead economist at the Bank of the Philippine Islands (BPI), said full-year gross domestic product (GDP) will likely expand slower this year, but the economy will continue to grow much faster than many of its peers in Southeast Asia.<\/p>\n<p>He attributed the slower growth to temporary faster inflation brought about by an increase in oil prices and a decline in agricultural output due to unfavorable weather conditions.<\/p>\n<p>\u201cWe are actually optimistic next year because it will be a mid-term election and typically, there is a lot more spending,\u201d Neri said in a recent interview.<\/p>\n<p>He noted that big-ticket infrastructure spending also have yet to happen.<\/p>\n<p>\u201cIf the (Metro Manila) subway (project) happens, if the airport projects in Luzon actually ground break and pipelined next year, the investment numbers that we saw earlier will continue to increase,\u201d he added.<\/p>\n<p>The economist further said oil prices are expected to normalize next year, which can bring down the country\u2019s inflation rate below 4 percent.<\/p>\n<p>Higher food prices due to the devastation wrought by Typhoon \u2018Ompong\u2019 mainly pushed the country\u2019s inflation rate to a nine-year high at 6.7 percent in September 2018.<\/p>\n<p>The country\u2019s GDP surged 6.7 percent in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0&#8212; The Philippine economy is expected to grow by 6.3 percent this year and accelerate close to 7 percent in &hellip;<\/p>\n","protected":false},"author":44,"featured_media":106245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-187217","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-leslie-gatpolintan","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/187217","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=187217"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/187217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/106245"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=187217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=187217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=187217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}