{"id":19427,"date":"2024-06-24T03:07:57","date_gmt":"2024-06-24T03:07:57","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/philippine-growth-seen-running-below-potential\/"},"modified":"2024-06-24T03:07:57","modified_gmt":"2024-06-24T03:07:57","slug":"philippine-growth-seen-running-below-potential","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/philippine-growth-seen-running-below-potential\/","title":{"rendered":"Philippine growth seen running \u2018below potential\u2019"},"content":{"rendered":"
\n

THE PHILIPPINES is expected to be the second-fastest growing economy in the Asia-Pacif<\/span>ic (APAC) region this year, although expansion is \u201cbelow potential,\u201d Moody\u2019s Analytics said.<\/p>\n

In a report, Moody\u2019s Analytics said the Philippines\u2019 gross domestic product (GDP) growth is expected to average 5.9% this year, just behind India (6.8%) but ahead of Vietnam (5.8%), Indonesia (5.2%), and China (4.9%).<\/p>\n

\u201cRising exports and stronger domestic demand have driven better-than-expected growth across most of the region in the <\/span>f<\/span>irst quarter,\u201d Moody\u2019s Analytics said. \u201cStronger household consumption also contributed to output gains.\u201d <\/span><\/p>\n

The forecast is slightly below the government\u2019s 6-7% growth target, but faster than the Philippine GDP growth of 5.5% in 2023.<\/p>\n

The economy expanded by 5.7% in the f<\/span>irst quarter.<\/p>\n

National Economic and Development Authority Secretary Arsenio M. Balisacan earlier said that GDP growth must average 6.1% in the succeeding three quarters to meet the government\u2019s target.<\/p>\n

Moody\u2019s noted that the Philippines\u2019 economic growth is still below pre-pandemic levels.<\/p>\n

\u201cOutput in the ASEAN (Association of Southeast Asian Nations) group of economies is more than 6% behind the pre-pandemic trend, with the Philippines and Thailand faring the worst (GDP in both countries is more than 10% below pre-pandemic levels),\u201d it said.<\/span><\/p>\n

Moody\u2019s Analytics said that the APAC economy is \u201coutperforming but underachieving.\u201d<\/p>\n

\u201cEconomies in the region are doing better than most economies worldwide. But with growth in many countries running below potential, it would be premature to say that the region is out of the woods,\u201d it said.<\/p>\n

It forecasts the APAC region to grow by 3.9% in both 2024 and 2025.<\/span><\/p>\n

\u201cKey challenges in the months ahead are unsteady foreign demand, lingering inflation, and a delayed easing of monetary settings,\u201d it said.<\/p>\n

\u201cA fresh uptick in commodity prices would stoke inflation and prompt monetary policy tightening that would weigh heavily on the region\u2019s economy,\u201d it added.<\/span><\/p>\n

For 2025, Moody\u2019s Analytics sees the Philippines expanding by 6%. This would make it the third-fastest growing country in the region, after India and Vietnam (both at 6.5%).<\/p>\n

The latest forecast for the Philippines also falls below the government\u2019s 6.5-7.5% target band for next year.<\/p>\n

INFLATION
\n<\/b>Meanwhile, Moody\u2019s said it expects inf<\/span>lation to average 3.6% this year. This is a tad higher than the Bangko Sentral ng Pilipinas\u2019 (BSP) 3.5% projection for 2024.<\/p>\n

It sees inf<\/span>lation easing to 3.3% next year, matching the BSP\u2019s baseline forecast.<\/p>\n

\u201cInflation is a key factor underpinning our forecast over the next 12 months. Consumer price inf<\/span>lation in the region is slowing, but progress has been uneven. Price pressures have eased in developed and developing Asia-Pacif<\/span>ic economies,\u201d Moody\u2019s said.<\/p>\n

\u201cBut while in<\/span>f<\/span>lation in developing economies is broadly in line with central bank targets or pre-pandemic averages, it is a bit higher than central banks in developed economies would like it to be.\u201d<\/span><\/p>\n

Headline inflation picked up for a fourth straight month to 3.9% in May. However, this was the sixth straight month that inflation settled within the BSP\u2019s 2-4% target band.<\/p>\n

\u201cFor the region\u2019s central banks, exchange rates are a primary concern. Given expected rate cuts by the US Federal Reserve Bank (we look for a cut to the federal funds rate in September), attention this year has focused on when central banks in this region will ease monetary settings,\u201d it added.<\/p>\n

The BSP has kept its benchmark rate steady at 17-year high 6.5%. From May 2022 to October 2023, it raised rates by a total of 450 basis points to tame in<\/span>f<\/span>lation.<\/span><\/p>\n

The Monetary Board is set to meet on Thursday for its next policy review. A BusinessWorld<\/i> poll of 15 analysts said they expect the central bank to stand pat at its meeting. \u2014 Luisa Maria Jacinta C. Jocson<\/b><\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE PHILIPPINES is expected to be the second-fastest growing economy in the Asia-Pacific (APAC) region this year, although expansion is \u201cbelow potential,\u201d Moody\u2019s Analytics said. In a report, Moody\u2019s Analytics said the Philippines\u2019 gross domestic product (GDP) growth is expected to average 5.9% this year, just behind India (6.8%) but ahead of Vietnam (5.8%), Indonesia [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[8820,14644,11413,185,1095,7837,4778],"class_list":["post-19427","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-below","tag-bworldonline","tag-growth","tag-philippine","tag-potential","tag-running","tag-seen"],"yoast_head":"\nPhilippine growth seen running \u2018below potential\u2019 - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philippine growth seen running \u2018below potential\u2019 - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE PHILIPPINES is expected to be the second-fastest growing economy in the Asia-Pacific (APAC) region this year, although expansion is \u201cbelow potential,\u201d Moody\u2019s Analytics said. In a report, Moody\u2019s Analytics said the Philippines\u2019 gross domestic product (GDP) growth is expected to average 5.9% this year, just behind India (6.8%) but ahead of Vietnam (5.8%), Indonesia [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Buzz\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-24T03:07:57+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\"},\"headline\":\"Philippine growth seen running \u2018below potential\u2019\",\"datePublished\":\"2024-06-24T03:07:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/\"},\"wordCount\":608,\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"keywords\":[\"below\",\"bworldonline\",\"growth\",\"philippine\",\"potential\",\"running\u2019\",\"seen\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/\",\"name\":\"Philippine growth seen running \u2018below potential\u2019 - Energy Buzz\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\"},\"datePublished\":\"2024-06-24T03:07:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippine-growth-seen-running-below-potential\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Philippine growth seen running \u2018below potential\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"name\":\"Energy Buzz\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/energybuzz.ph\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\",\"name\":\"Energy Buzz\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"contentUrl\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"width\":1315,\"height\":656,\"caption\":\"Energy Buzz\"},\"image\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Philippine growth seen running \u2018below potential\u2019 - Energy Buzz","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/","og_locale":"en_US","og_type":"article","og_title":"Philippine growth seen running \u2018below potential\u2019 - Energy Buzz","og_description":"THE PHILIPPINES is expected to be the second-fastest growing economy in the Asia-Pacific (APAC) region this year, although expansion is \u201cbelow potential,\u201d Moody\u2019s Analytics said. In a report, Moody\u2019s Analytics said the Philippines\u2019 gross domestic product (GDP) growth is expected to average 5.9% this year, just behind India (6.8%) but ahead of Vietnam (5.8%), Indonesia [\u2026]","og_url":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/","og_site_name":"Energy Buzz","article_published_time":"2024-06-24T03:07:57+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/#article","isPartOf":{"@id":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/"},"author":{"name":"admin","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892"},"headline":"Philippine growth seen running \u2018below potential\u2019","datePublished":"2024-06-24T03:07:57+00:00","mainEntityOfPage":{"@id":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/"},"wordCount":608,"publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"keywords":["below","bworldonline","growth","philippine","potential","running\u2019","seen"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/","url":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/","name":"Philippine growth seen running \u2018below potential\u2019 - Energy Buzz","isPartOf":{"@id":"https:\/\/energybuzz.ph\/#website"},"datePublished":"2024-06-24T03:07:57+00:00","breadcrumb":{"@id":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/energybuzz.ph\/philippine-growth-seen-running-below-potential\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/energybuzz.ph\/staging\/6915\/"},{"@type":"ListItem","position":2,"name":"Philippine growth seen running \u2018below potential\u2019"}]},{"@type":"WebSite","@id":"https:\/\/energybuzz.ph\/#website","url":"https:\/\/energybuzz.ph\/","name":"Energy Buzz","description":"","publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/energybuzz.ph\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/energybuzz.ph\/#organization","name":"Energy Buzz","url":"https:\/\/energybuzz.ph\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/","url":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","contentUrl":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","width":1315,"height":656,"caption":"Energy Buzz"},"image":{"@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/energybuzz.ph\/staging\/6915\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/19427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/comments?post=19427"}],"version-history":[{"count":0,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/19427\/revisions"}],"wp:attachment":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/media?parent=19427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/categories?post=19427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/tags?post=19427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}