According to World Bank the Philippine economy remains strong and is projected to grow to 6.1% this year despite facing a lot of external and internal headwinds: the trade war between the US and China, the unrest in Hong Kong and the Middle East, and possibly Brexit, economic reforms such as CITIRA, the rise of POGOs, the slowing down of IT-BPM growth, transportation crisis and port congestion.
In line with this, the TI committee will hold a committee meeting entitled: Philippine Economic Outlook 2020 on 27 January 2020, 12:00-2:00pm at the American Chamber Hall, Makati City.
Much can be achieved in 2020 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 committee meeting 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.