{"id":243007,"date":"2020-01-23T21:49:52","date_gmt":"2020-01-24T02:49:52","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=243007"},"modified":"2020-01-23T21:49:52","modified_gmt":"2020-01-24T02:49:52","slug":"ph-economy-extremely-resilient-in-2019-eccp","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/01\/23\/ph-economy-extremely-resilient-in-2019-eccp\/","title":{"rendered":"PH economy \u2018extremely resilient\u2019 in 2019: ECCP"},"content":{"rendered":"
\"\"<\/a>
ECONOMY. European Chamber of Commerce of the Philippines President Nabil Francis (left) and Delegation of the European Union to the Philippines Charg\u00e9 d’ Affaires Thomas Wiersing during a press conference at the Dusit Thani Hotel in Makati City on Thursday (Jan. 23, 2020). Francis said the Philippine economy was \u201cextremely resilient\u201d in 2019 amid external factors and challenges in the domestic environment. (PNA photo by Kris Crismundo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— European Chamber of Commerce of the Philippines (ECCP) President Nabil Francis said the Philippine economy has become \u201cextremely resilient\u201d in 2019 amid external factors and challenges in the domestic environment.<\/p>\n

Francis made the statement in a press conference in Makati City Thursday, following the Philippine Statistics Authority report on the gross domestic product (GDP) growth for 2019, which settled at 5.9 percent, below the government\u2019s target and the lowest level in eight years.<\/p>\n

\u201cLooking at the external environment, I think the external environment was quite challenging in 2019 because of the factors that were not emanating from the Philippines but has been impacting our economy,\u201d he said.<\/p>\n

Francis cited the United States-China trade friction, the Brexit, and the softening of the Chinese economy as major factors affecting the global economy last year.<\/p>\n

With the challenging global economy on the backdrop, local factors have affected the economic performance of the country last year, particularly the delay in passing the 2019 national budget that slowed down the roll out of public spending on infrastructure projects, he said.<\/p>\n

But the Philippine economy was able to withstand these external and internal challenges, and grew at 5.9 percent, which is still one of the fastest in the region, Francis said.<\/p>\n

\u201cThe economy of the Philippines is extremely resilient in 2019,\u201d he added.<\/p>\n

Francis remained optimistic with the economic growth this year, with the timely enactment of the 2020 national budget, a BBB+ credit rating for the Philippines, and a strong growth in consumption driven by remittances.<\/p>\n

He said the Philippine government should keep a close watch on the country\u2019s trade balance and attracting more foreign direct investments.<\/p>\n

\u201cWe should promote the Philippines and make sure that the Philippines is a magnet for foreign investors,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— European Chamber of Commerce of the Philippines (ECCP) President Nabil Francis said the Philippine economy has become \u201cextremely resilient\u201d …<\/p>\n","protected":false},"author":44,"featured_media":243008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-243007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/243007","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=243007"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/243007\/revisions"}],"predecessor-version":[{"id":243009,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/243007\/revisions\/243009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/243008"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=243007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=243007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=243007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}