Skip to content

Philippines Today

home of the Global Filipino

Menu
  • News Stories
  • Regional News
  • Business & Economy
  • Science & Technology
  • International
Menu

Maybank eyes strong domestic growth drivers to help PHL outperform ASEAN-5 League in ’14 & ‘15

Posted on October 20, 2014

By Joann Santiago

MANILA, Oct. 20 (PNA) — The Philippines is projected to post the highest growth among ASEAN-5 economies this year and the next as domestic demands remain strong and issues negatively affecting growth are being resolved.

In a research note, Maybank ATR Kim Eng Financial Corp. noted the cut made by the International Monetary Fund (IMF) on global growth during the two-year period given the weaker-than-expected outturn in major economies.

It, however, cited that projection for emerging and developing Asia remains rosy at 6.5 percent for 2014 and 6.6 percent for 2015.

For ASEAN-5, which groups Indonesia, Malaysia, the Philippines, Thailand and Vietnam, growth for this year is seen to reach 4.7 percent while it is 5.4 percent for 2015.

For the Philippines alone, the projection is a growth of 6.2 percent this year and 6.3 percent next year.

These are, however, lower than the government’s 6.5 to 7.5 percent target this year and 7.0 to 8.0 percent target for 2015.

Relatively, the World Bank (WB) projects the Philippines’ growth during the two-year period to be at 6.4 percent and 6.7 percent, while the Manila-based Asian Development Bank (ADB) sets these at 6.2 percent and 6.4 percent.

Maybank also noted the consensus projection among IMF, WB and ADB of a better output for the domestic economy in the second half of the year after the 6.0 percent expansion from January to June 2014.

”We concur as recent issues holding bank growth in 1H14 (first half of 2014) are being resolved,” it said.

The report said inflation rate is coming down after the September level declined to 4.4 percent from month-ago’s 4.9 percent.

Year-to-date average inflation stood at 4.4 percent, within the government’s 3.0 to 5.0 percent target for the year.

Supply side pressures are becoming less of a problem as oil prices continue to go down even in the international market and imports of basic commodities like rice has been assured.

The problem of port congestion has also been partly addressed after the government of the City of Manila stopped the implementation of the expanded truck ban in its vicinity.

”Vigilance by the private sector keeps the issue on the top of the minds of government officials and we believe this will help prevent a recurrence of the problem,” the research report said.

The report also said that the government has addressed spending constraints even after the Supreme Court declared some portions of the Disbursement Acceleration Program (DAP) unconstitutional.

It identified the country’s edge vis-à-vis the current global economic environment and these are the demand-driven economy, a healthy banking system, young population, low household and corporate debt, declining government liabilities and the improving fiscal and monetary space. (PNA)

Share this:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • More
  • Tumblr
  • Reddit

Related

News Categories

  • Announcement (34)
  • Business & Economy (1,567)
  • Comment and Opinion (74)
    • Random Thoughts (18)
  • Current Issues (425)
    • Charter Change (1)
    • Election (228)
    • Population (6)
  • International (389)
  • Life In Japan (66)
    • Everything Japan (41)
  • Literary (34)
  • Miscellaneous (610)
  • News Stories (5,312)
  • OFW Corner (297)
  • Others (75)
  • People (408)
  • Press Releases (163)
  • Regional News (3,362)
  • Science and Technology (502)
  • Sports & Entertainment (287)

Latest News

  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
  • Baguio City LGU presents traffic plan for holiday season December 17, 2015

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Science and Technology

  • DOST-ICTO targets 500,000 web-based workers from countryside by 2016
  • (Feature) STARBOOKS: A ‘makeover’ for librarians
  • Science, research reduce ‘cocolisap’ hotspot areas in PHL
  • Montejo to further improve PAGASA and empower scientists
  • 1st PPP in biomedical research produces knee replacement system fit for Asians

Press Releases

  • Microsoft to buy Nokia’s mobile devices business for 5.44-B euros
  • New World Bank climate change report should spur SEA and world leaders into action: Greenpeace
  • Save the Philippine Seas before it’s too late — Greenpeace
  • Palanca Awards’ last call for entries
  • Philippines joins the global call for Arctic protection

Comment and Opinion

  • Remembering the dead is a celebration of life
  • Killer earthquake unlikely to hit Panay Island in near future – analyst
  • It’s not just more fun to invest in the Philippines, it is also profitable, says President Aquino
  • How does one differentiate a tamaraw from a carabao?
  • Fun is not just about the place, it is also about the people, says DOT chief

OFW Corner

  • Ebola infection risk low in Croatia
  • Death toll rises to 41, over 100 still missing in landslide in India
  • Asbestos use in construction a labor hazard
  • 500,000 OFWs to benefit POEA on-line transactions — Baldoz
  • 25 distressed OFWs return home from Riyadh
©2025 Philippines Today | Design: Newspaperly WordPress Theme