PH economy to grow 5.8% this 2019
According to Moody’s Investors Service, this PH economy growth rate is faster than neighboring countries Singapore, Malaysia, Thailand, and Indonesia.
Moody’s stated that the domestic factor of budget delay might have been one of the main factors to the slow first half of the year for the country.
However, next year is a more promising year for the Philippines as the global debt watcher states that the economy would likely grow faster at 6.2 percent. It is still expected to outpace other southeast Asian countries. It’s also projected to exceed China’s 5.8 percent by 2020.
Despite the slow first year growth, the remaining quarters of the year are expected to pick up because of government fiscal spending.