GDP expansion this year forecast lower than 5-year average of 6.6%
Growth across the economy this year is forecast to remain below its five-year average of 6.6 percent, according to the sovereign credit watcher Standard and Poor's.
First-quarter growth averaging 5.7 proved broad-based although lower than forecast
The economy expanded at the rate of 5.7 percent in the first three months of the year in terms of the gross domestic product (GDP), slower than various analyst forecasts averaging 5.9 percent during the period but quicker than the adjusted but scaled-back growth of only 5.5 percent a quarter earlier, the Philippine Statistics Authority (PSA) said on Thursday.
1Q growth likely accelerated even as government debt acts as growth impediment
Output growth averaging only 5.5 percent in the December quarter last year was seen accelerated to 5.8 percent in the quarter ended March this year, according to analysts at Moody's Analytics
Higher-for-longer interest rates seen hurting Manila output growth expansion this year
The country' local output expansion, measured as the gross domestic product (GDP), is forecast to accelerate to 5.9 percent this year from last year's 5.6 percent, the sovereign credit watcher Standard and Poor's said in commentaries published at its website.
No more new coal plant lending for BDO
Banco De Oro Universal Bank (BDO Unibank) on Friday bared a new policy against financing the construction of new coal-fired power plants as a matter of course going forward.
