As per latest reports on Philippines economic conditions it is expected that there would be slowdown as far as national economy is concerned. However, what is encouraging for Philippines’ economic conditions is that depreciation would be still within expectations of national government.
A number of moves have been made by national government in order to improve economic conditions of Philippines. It has increased amount of expenditures to a significant extent and has been outsourcing its business activities. Amount of mining and construction for residential purposes has gone up in Philippines as well.
2009 fiscal is expected to bring not much of turbulence as far as economic conditions in Philippines are concerned. It is expected that there would be an increase of 4.1 percent in gross domestic product for 2009 fiscal. However, in first quarter of 2009 rate of growth of Philippines GDP would be 3.5 percent. Philippines government had previously estimated this rate to be within 3.7 to 4.4 percent.
Economic conditions at Philippines in fiscal 2008 were far from ideal. Growth rate of GDP had gone down to 4.6 percent from 7.2 percent in 2007 fiscal. It is being expected that rate of inflation would go down to 6.4 percent in February 2009. It would further depreciate to reach less than 4 percent as of April 2009.
Economists have noted that Bangko Sentral ng Pilipinas can still deduct its rates of interest for policies by as much as 50 basis points in first quarter of 2009 fiscal. It is expected that this interest rate deduction would be assisting weakened financial sector and overall Philippines economic conditions.
Reports on Philippines economic conditions have confirmed that rates of interest would stay flat for first quarter 2009 even if there are deductions on policy rates by Bangko Sentral ng Pilipinas. Much of this would be owing to irregularities in issuance of major corporate bonds.
It is also expected that in first quarter of 2009 fiscal exchange rate between United States dollar and Philippines Peso would continue on its downward slope. In first quarter of 2009 fiscal 1 US dollar would be worth 48.50 Philippines Peso.
Allot Communications (Allot) is a provider of intelligent Internet Protocol (IP) service optimization, monetization and personalization solutions for mobile, fixed and wireless broadband service providers and enterprises. The company's ...
There have been five important developments today, but price action has been mostly limited. Confirmation that the Reserve Bank of New Zealand is pausing after hiking rates for the fourth consecutive time has sent the New Zealand dollar sharply lower. The disappointing UK retail sales report has spurred an extension of the profit-taking seen in sterling in recent days. Sterling made a marginal new low for the month as it tested the $1.70 level. Despite other developments, the other major currencies are little changed.
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.
Chancellor of the Exchequer of the United Kingdom from 1992 to 2007. Prime Minister of the UK between 2007 and 2010. Inaugural 'Distinguished Leader in Residence' at New York University. Advisor at World Economic Forum
CEO and co-CIO of PIMCO. Served as President and CEO of the Harvard Management Company for 2 years, while also working at the IMF for 15 years. In 2008, his book "When Markets Collide", won the Financial Times award for Business Book of The Year in addition to being named as the one of the best business books of all time by The Independent.
QFINANCE is a unique collaboration of more than 300 of the world’s leading practitioners and visionaries in finance and financial management, covering key aspects of finance including risk and cash-flow management, operations, macro issues, regulation, auditing, and raising capital.