BY F. YAP SECURITIES / 2TRADEASIA
Fitch forecasts Philippine growth to remain generally strong at 6.2% in 2015, 6% in 2016, based on the expected steady inflow of overseas remittances & continued strong performance of business process outsourcing (BPO).
The forecasts are below government’s 7%-8% target for 2015 & 2016, although faster than 6% average seen for emerging Asia, excluding China.
The growth for 2016 is similar with the rest of the region.
Fitch said the Philippines is relatively well poised to withstand any adverse impact from normalization of US monetary policy since it does not have large external funding needs in comparison with peers.