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<\/p>\nGlobal financial HSBC sees the Philippine economy leading Asia in economic growth for 2017 in comparison to its neighbors.<\/p>\n
<\/p>\n
IMAGE GRABBED FROM Wikimedia Commons<\/a><\/em><\/p>\n In their recent Asian Economics Quarterly Report (Q1 2017), HSBC economist Joseph Incalcaterra said the country \u201ccontinues to stand out as one of Asia’s strongest performers. Despite an uncertain external environment and weak regional growth, the economy expanded by 7.1% year-on-year in Q3 2016; the fastest pace in almost 3 years.\u201d<\/p>\n According to a report from Rappler<\/a>, Incalcaterra pointed to private consumption and investment as the main drivers for the country\u2019s stellar growth rate. It\u2019s also fairly insulated from any headwinds Asia might face in 2017 thanks to stable local demand.<\/p>\n Investments are also looking good for the Philippines. In a report from the Philippine Daily Inquirer<\/a>, he said investments will remain robust thanks to the government\u2019s increased spending on infrastructure, with 5% of the country\u2019s GDP being put into projects. This will rise to 7% by the end of the Duterte administration.<\/p>\n The only pitfalls seen by HSBC were in the country\u2019s manufacturing exports and agriculture. \u201cOn the other hand, the outlook for manufacturing exports does not look too bright outside electronics, which might lead to a continuation of trade deficits in the Philippines. Elsewhere, the Philippines remains highly vulnerable to weather trends. Fortunately, risks stemming from the onset of La Ni\u00f1a after El Ni\u00f1o are relatively contained, thanks to government efforts which are likely to ramp up rice imports in 2017,\u201d Incalcaterra said.<\/p>\n Source: Philippine Daily Inquirer<\/a>, Rappler<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Global financial HSBC sees the Philippine economy leading Asia in economic growth for 2017 in comparison to its neighbors.<\/p>\n","protected":false},"author":3,"featured_media":12175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2088,1518,2089,2087],"class_list":["post-12174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events","tag-economic-growth","tag-gdp","tag-hsbc","tag-ph-economy"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2017\/01\/logo-1-e1484644201862.jpg","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/12174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=12174"}],"version-history":[{"count":1,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/12174\/revisions"}],"predecessor-version":[{"id":12176,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/12174\/revisions\/12176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/12175"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=12174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=12174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=12174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![Wikimedia Commons<\/a><\/em><\/p>\nIn their recent Asian Economics Quarterly Report (Q1 2017), HSBC economist Joseph Incalcaterra said the country \u201ccontinues to stand out as one of Asia’s strongest performers. Despite an uncertain external environment and weak regional growth, the economy expanded by 7.1% year-on-year in Q3 2016; the fastest pace in almost 3 years.\u201d<\/p>\nAccording to a report from Rappler<\/a>, Incalcaterra pointed to private consumption and investment as the main drivers for the country\u2019s stellar growth rate. It\u2019s also fairly insulated from any headwinds Asia might face in 2017 thanks to stable local demand.<\/p>\nInvestments are also looking good for the Philippines. In a report from the Philippine Daily Inquirer<\/a>, he said investments will remain robust thanks to the government\u2019s increased spending on infrastructure, with 5% of the country\u2019s GDP being put into projects. This will rise to 7% by the end of the Duterte administration.<\/p>\nThe only pitfalls seen by HSBC were in the country\u2019s manufacturing exports and agriculture. \u201cOn the other hand, the outlook for manufacturing exports does not look too bright outside electronics, which might lead to a continuation of trade deficits in the Philippines. Elsewhere, the Philippines remains highly vulnerable to weather trends. Fortunately, risks stemming from the onset of La Ni\u00f1a after El Ni\u00f1o are relatively contained, thanks to government efforts which are likely to ramp up rice imports in 2017,\u201d Incalcaterra said.<\/p>\nSource: Philippine Daily Inquirer<\/a>, Rappler<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Global financial HSBC sees the Philippine economy leading Asia in economic growth for 2017 in comparison to its neighbors.<\/p>\n","protected":false},"author":3,"featured_media":12175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2088,1518,2089,2087],"class_list":["post-12174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events","tag-economic-growth","tag-gdp","tag-hsbc","tag-ph-economy"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2017\/01\/logo-1-e1484644201862.jpg","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/12174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=12174"}],"version-history":[{"count":1,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/12174\/revisions"}],"predecessor-version":[{"id":12176,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/12174\/revisions\/12176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/12175"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=12174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=12174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=12174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/commons.wikimedia.org\/wiki\/File:HSBC.svg\"){kind=link}