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Macro - Country Economic Forecasts - Philippines

Publisher Oxford Economics
Published Mar 30, 2022
Length 9 Pages
SKU # OFE17063651

Description

Macro - Country Economic Forecasts - Philippines

We have raised our Q1 GDP growth forecast for the Philippines as restrictions imposed during the Omicron wave in January proved to be of shorter duration than expected and mobility has picked up sharply. That said, headwinds are mounting as a result of the Russia-Ukraine war. While the geographical distance and limited economic relations with Russia and Ukraine will limit the direct economic impact of the war, weaker global trade and higher global commodity prices will hurt. Thus, we have downgraded our growth forecast to 6.8% for 2022 and 5.8% for 2023.

Table of Contents

9 Pages
Philippines: Russia-Ukraine war to hit economy via higher prices
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

Pricing

Currency Rates
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