What Is the Economic Outlook for the Philippines in 2018?
06 Feb 2018
In this our second podcast, Asia Editor, Patrick Cooke, catches up with Philippines Editorial Manager, Jean-Pierre Salendres, in Manila to discuss the economic outlook for ASEAN’s third largest economy in 2018.
From the passage of the Tax Reform for Acceleration and Inclusion Act (TRAIN), to the ramping up of the Build Build Build infrastructure programme, our experts discuss what President Rodrigo Duterte’s economic agenda means for international investors and Filipino businesses and consumers.
Questions still remain about the extent to which infrastructure projects in the pipeline will be opened to private participation, with the administration so far showing a clear preference for Official Development Assistance (ODA) over Public-Private Partnerships (PPPs). Meanwhile, international investors still await news of what restrictions on international participation will be eased in the long awaited update of the Foreign Investment Negative List.
Our discussion also touches on how investor sentiment may be affected by the so-called “War on Drugs” and the continuation of martial law in the southern island of Mindanao. However, for all the challenges, the Philippines remains a remarkable success story and is forecast by the World Bank to remain one of the fastest growing economies in ASEAN through 2020. Our experts conclude that the inherent advantages the country enjoys, coupled with concerted efforts to address the glaring infrastructure gaps and streamline taxation revenues, will see the country maintain its positive trajectory in the year ahead.