PH economy, investment opportunities tackled at BCCP economic briefing

PNB Economist and Head of Research Alvin Arogo held an economic briefing for the British Chamber of Commerce Philippines (BCCP) at Dusit Thani, Makati City last January 24.

The forum covered the current state of the Philippine economy and the legislative development for businesses in the country through discussions with the country’s foremost economists and government officials.

In his presentation, Alvin said that the country's gross domestic product (GDP) will reach 5.5% this year, slower compared to the expected 7.5% for 2022 (actual growth released on January 26 came in at 7.6%). He said that this is because of three things: consumers’ purchasing power will be affected by high inflation especially as pandemic savings are used up; capital formation would likely be dampened by higher interest rates; and government expenditures will increase minimally as indicated in the approved national budget.

PNB's participation was held upon the invitation of BCCP chairman and PNB board advisor Christopher Nelson. The event was also attended by HMA Laure Beaufils, British Ambassador to the Philippines; Asec. Allan Gepty, Assistant Secretary for Industry Development and Trade Policy of the Department of Trade and Industry; and Dr. Ceferino Rodolfo, Undersecretary for Industry Development and Trade Policy Group of the Department of Trade and Industry. Joining via Zoom were ASEAN Economist Aris Dacanay of HSBC and Ms. Nenita Jimenez of the Department of Public Works and Highways.