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Published on February 8, 2008

Citibank economist for the Philippines Jun Trinidad stressed that while domestic expansion this year would likely slow down from last year, a favourable fiscal and monetary policy environment would provide sufficient buffer against an expected weakening in exports and offshore demand for Philippine labour, allowing the country to sustain respectable growth this year.

Trinidad's projected growth in the 2008 gross domestic product is well within the government's official target range of 6.3-7 per cent.

"It's not as high as last year but it's certainly going to be much better than what you'll probably see in the US or in industrialised economies," Trinidad said in a presentation for high-net-worth Citibank clients.

Philippine Daily Inquirer

Asia News Network