Connect with us

Hi, what are you looking for?


Return to pre-pandemic growth track seen possible in 7-8 years — BPI


The Philippines may return to its pre-pandemic growth trajectory in seven or eight years, Bank of the Philippine Islands (BPI) said, more optimistic than a government estimate of 10 years, with the bank’s projection conditioned on broader adoption of technology.

“For returning to our pre-pandemic GDP (gross domestic product) trajectory, we think 10 years is too long. We believe our labor sector is agile enough to pivot to new winners,” BPI Lead Economist Emilio S. Neri, Jr. said at a virtual briefing Tuesday.

Mr. Neri was referring to a projection by the National Economic and Development Authority (NEDA) that the economy could take 10 years to get back to pre-pandemic growth rates, with consumption and investments expected to remain sluggish.

Mr. Neri said Socioeconomic Planning Secretary Karl Kendrick T. Chua issued a conservative projection because he “probably wants to compel or to urge other government agencies to move more quickly.”

To effect a more rapid recovery, he said it is important to develop technology skills in the workforce.

The need to nurture the digital economy has been accelerated by the pandemic, BPI Chief Market Strategist Marco Miguel Javier said.

“We’ve also looked at the continual increase in capital goods imports for the technology sector. We think that should be one of the drivers (of) our recovery,” Mr. Javier said.

He is also hopeful that the next administration will improve “our lagging infrastructure.”

Meanwhile, Mr. Javier said he also hopes that some businesses that have had to close their factories in Vietnam due to the pandemic may consider the Philippines as an investment destination.

“Companies can diversify their supply chains. We saw because of this pandemic that centralizing your supply chains (in) one country can sometimes be hazardous to your company’s health,” he said.

The economy expanded 7.1% year on year in the three months to September, the second consecutive quarter of expansion. — Luz Wendy T. Noble

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Hann Casino Resort, the first fully integrated resort in Central Luzon, now stands as an iconic landmark in Clark Freeport Zone as it flaunts...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> The windfall tax on oil and gas firms will be suspended if prices fall to normal levels for a sustained period,...


One of the first things that come to mind when you become financially independent is the excitement of finally having your own money to...


Smartphone screen showing the countries where GCash can be used with international SIMs GCash users can now opt for a hassle-free, cashless payment method...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> HMRC has announced that it will pilot a new ‘seasonal model’ for its self-assessment helpline in an attempt to relieve pressure...


Okada Manila, Asia’s largest integrated resort, announces the launch of its newest hotel package, “Bespoke Celebrations by the Bay.” This offer presents an opportunity...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.