5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

Balisacan hopeful of 6% growth in Q1

by
April 14, 2025
in Stock
0
Balisacan hopeful of 6% growth in Q1
Economic managers are targeting 6-8% growth this year. — PHILIPPINE STAR/MIGUEL DE GUZMAN

NATIONAL Economic and Development Authority Secretary Arsenio M. Balisacan is hopeful the economy grew by at least 6% in the first quarter, as rate cuts and cooling inflation drove up domestic consumption.

Mr. Balisacan told reporters it may be unrealistic to expect gross domestic product (GDP) growth to hit the upper end of the 6-8% target amid global uncertainty over the US tariff policy.

However, it may be too early to revise the growth targets, he added.

“Yeah, we are keeping for now the 6%, 6-8% growth. And we’re still quite confident that we may hit at least the low-end part (of the full-year target),” he said.

Asked if first-quarter GDP may have expanded faster than the 5.9% print in the first quarter of 2024, Mr. Balisacan replied: “If we are going to get something close to that (5.9%) for the first quarter, that to me is a respectable achievement. But I would like to see hopefully 6%.”

First-quarter GDP data will be released on May 8.

“Our target is to move the economy faster than it used to so that we can catch up with our neighbors,” Mr. Balisacan said.

Mr. Balisacan said domestic consumption, which makes up around three-quarters of GDP, will continue to drive growth.

“I would think that because of the lower interest rates and the much more favorable inflation that has happened over the last first three months of the year, this would surely have impacted favorably on domestic consumption,” he said.

In the first quarter, inflation averaged 2.2%, well within the central bank’s 2-4% target range.

The Bangko Sentral ng Pilipinas paused its easing cycle in February, but cut rates by 25 basis points at its meeting last week. This brought the target reverse repurchase rate to 5.5% from 5.75% previously.

Mr. Balisacan said second quarter economic performance may be “challenging” amid the turmoil caused by the US reciprocal tariffs.

US President Donald J. Trump on April 9 paused the new reciprocal tariffs for 90 days, although the baseline 10% tariff on almost all US imports remained in effect.

The Philippines faced a 17% reciprocal tariff, although this was the second lowest among Southeast Asian countries.

“In fact, when we did our simulation, the net benefits for us in terms of the increases in exports, overall exports, not just for the US but overall, as well as for increases in GDP, are now more favorable for us compared to the reciprocal tariffs,” he said.

Mr. Balisacan said that exports could possibly increase by 1.5% with the 10% blanket tariff during the 90-day pause.

“But then again, because exports as a contributor to our economy is quite small, the overall impact and impact is still quite high,” added.

The Development Budget Coordination Committee projects 6% and 5% growth in exports and imports, respectively, this year.

Despite the growing uncertainty in global trade, Mr. Balisacan said the Philippine economy remains relatively insulated due to its smaller role in global trade compared to its Asian neighbors.

“The economy is not as vulnerable to shocks in the global marketplace as our neighbors… because the Philippine economy’s exposure to trade is fairly small,” he said.

However, he cautioned against complacency, stressing the importance of strengthening export performance by diversifying markets and addressing investment constraints so the country could take advantage of trade diversion opportunities resulting from the sweeping US tariffs.

“We need to double, even triple, our efforts to improve the investment environment so investors see the Philippines as a viable destination,” Mr. Balisacan said. — Aubrey Rose A. Inosante with Reuters

Previous Post

Philippines, France to hold JEC meeting in September

Next Post

Vehicle sales jump 7.6% in March

Next Post
Vehicle sales jump 7.6% in March

Vehicle sales jump 7.6% in March

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    Puregold OPMCON 2025 is Coming: Tickets drop this May at  Tindahan ni Aling Puring Sari-Sari Store Convention

    Puregold OPMCON 2025 is Coming: Tickets drop this May at Tindahan ni Aling Puring Sari-Sari Store Convention

    May 12, 2025
    Hitting GDP goal may be ‘challenging’

    Hitting GDP goal may be ‘challenging’

    May 11, 2025
    Gov’t debt service bill plunges 66% in March

    Gov’t debt service bill plunges 66% in March

    May 11, 2025
    Nomura cuts PHL growth forecasts for 2025, 2026

    Nomura cuts PHL growth forecasts for 2025, 2026

    May 11, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.