Strong macroeconomic fundamentals will enable the Philippine economy to remain resilient amid the domestic and external headwinds that are threatening to stifle growth, key government officials said.
Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo and Budget Secretary Benjamin Diokno cited the strengths of the domestic economy in a briefing titled “The Outlook 2018” held at Makati Shangri-La Hotel on Nov. 15.
“The Philippine economy is set to sustain its lead and beat the heat… Accelerated infrastructure development would increase absorptive capacity and growth potential,” Guinigundo said in a presentation.
The government’s ‘Build, Build, Build’ program aims to construct more roads, bridges, airports, seaports, railways, and water and irrigation projects to spur economic growth.
Guinigundo said the robust monetary, financial, and external sectors would continue to lend support to economic growth over the near and medium term.
“The BSP continues to support the country’s growth trajectory through effective conduct of its mandates of maintaining price and financial stability, providing resilience to shocks and fostering a macro-environment conducive to sustained economic growth,” Guinigundo said.