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The Philippine economy is seen to have expanded by 5 percent in 2021 and is forecast to grow by 7.5 percent this year, an economist of Standard Chartered
Jonathan Kho, Standard Chartered Bank economist for Asia and the Philippines(Photo from Standard Chartered Bank) MANILA - The Philippine economy is seen to have expanded by 5 percent in 2021 and is forecast to grow by 7.5 percent this year, an economist of Standard Chartered Bank said Friday. Both gross domestic product (GDP) projections are within the inter-agency Development Budget and Coordination Committee's (DBCC) assumption of a 5 percent to 5.5 percent expansion for last year and a 7 percent to 9 percent assumption for 2022. In a virtual briefing, Jonathan Kho, Standard Chartered Bank economist for Asia and the Philippines, said the projected quarter-on-quarter output for the last quarter of 2021 is 6.5 percent, higher than 3.8 percent from July to September that year. Kho said their growth projection for the domestic economy this year is higher than the previous forecast of 6.5 percent, attributing it to base effects, continued economic re-opening that boosts employment gro