In January 24, 2019, the Philippine Statistics Authority reported that the Philippine gross domestic product (GDP) growth rose to 6.1% at 2018 4Q. This instance, however, does not hit the mark for the government with their target range of 6.5%-6.9%. It is reported that the major cause of this reduction are high inflation rates.
Much can be achieved in 2019 and beyond as economic managers believe that this year up to 2022, growth prospects can range from 7%-8% . This can be solved by addressing major mishaps in good governance, removing policy uncertainties, and taking action on priorities such as transportation efficiency, easing foreign restrictions, etc. Moreover, external factors like risks from largest trading partners of the country should also be taken into account.
The 2019 AmCham Economic Forum shall look unto creating a discourse on these issues and see what can be done this year to create better figures and a more healthy economy in the years to come.