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Philippines as net borrowing state improves in Q2-2022
The country’s status as one who borrows from rather than lends to neighbors on the global stage improved substantially in the second quarter of 2022.
Hot money net inflows only $887M, way below $3.5B target
Although this reversed the net outflow of $574.5 million recorded in 2021, the net inflow was way below the revised $3.5 billion target set by the Bangko Sentral ng Pilipinas (BSP).
GDP expands 7.6% in 2022, fastest in nearly 50 years
The Philippine economy expanded in 2022 by 7.6 percent, exceeding the government’s target and thus far the fastest growth among emerging Asian economies, helped by strong consumer consumption amid a so-called “revenge spending” and a robust services sector.
Q3 2022 GDP growth maintained at 7.6%
The government has retained the projected local output growth measured as the gross domestic product (GDP) at 7.6 percent in the third quarter of 2022, according to National Statistician Dennis Mapa.
BSP chief sees below 2% inflation in early 2024
Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla expects inflation falling below the lower end of the government’s two- to four-percent target range early...
