November 23, 2017, 7:40 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07222 UAE Dirham
1 Philippine Peso = 2.23697 Albanian Lek
1 Philippine Peso = 0.035 Neth Antilles Guilder
1 Philippine Peso = 0.34334 Argentine Peso
1 Philippine Peso = 0.02609 Australian Dollar
1 Philippine Peso = 0.035 Aruba Florin
1 Philippine Peso = 0.03933 Barbados Dollar
1 Philippine Peso = 1.63992 Bangladesh Taka
1 Philippine Peso = 0.03265 Bulgarian Lev
1 Philippine Peso = 0.00741 Bahraini Dinar
1 Philippine Peso = 34.27689 Burundi Franc
1 Philippine Peso = 0.01967 Bermuda Dollar
1 Philippine Peso = 0.02668 Brunei Dollar
1 Philippine Peso = 0.13491 Bolivian Boliviano
1 Philippine Peso = 0.06405 Brazilian Real
1 Philippine Peso = 0.01967 Bahamian Dollar
1 Philippine Peso = 1.28171 Bhutan Ngultrum
1 Philippine Peso = 0.20626 Botswana Pula
1 Philippine Peso = 393.707 Belarus Ruble
1 Philippine Peso = 0.03929 Belize Dollar
1 Philippine Peso = 0.0252 Canadian Dollar
1 Philippine Peso = 0.01953 Swiss Franc
1 Philippine Peso = 12.51721 Chilean Peso
1 Philippine Peso = 0.13055 Chinese Yuan
1 Philippine Peso = 59.27237 Colombian Peso
1 Philippine Peso = 11.06096 Costa Rica Colon
1 Philippine Peso = 0.01967 Cuban Peso
1 Philippine Peso = 1.84798 Cape Verde Escudo
1 Philippine Peso = 0.42782 Czech Koruna
1 Philippine Peso = 3.47748 Djibouti Franc
1 Philippine Peso = 0.12472 Danish Krone
1 Philippine Peso = 0.93215 Dominican Peso
1 Philippine Peso = 2.25679 Algerian Dinar
1 Philippine Peso = 0.26216 Estonian Kroon
1 Philippine Peso = 0.34612 Egyptian Pound
1 Philippine Peso = 0.53196 Ethiopian Birr
1 Philippine Peso = 0.01676 Euro
1 Philippine Peso = 0.0411 Fiji Dollar
1 Philippine Peso = 0.01485 Falkland Islands Pound
1 Philippine Peso = 0.01485 British Pound
1 Philippine Peso = 0.09043 Ghanaian Cedi
1 Philippine Peso = 0.92566 Gambian Dalasi
1 Philippine Peso = 176.89283 Guinea Franc
1 Philippine Peso = 0.14439 Guatemala Quetzal
1 Philippine Peso = 4.01731 Guyana Dollar
1 Philippine Peso = 0.15359 Hong Kong Dollar
1 Philippine Peso = 0.46264 Honduras Lempira
1 Philippine Peso = 0.12608 Croatian Kuna
1 Philippine Peso = 1.21691 Haiti Gourde
1 Philippine Peso = 5.23442 Hungarian Forint
1 Philippine Peso = 266.33236 Indonesian Rupiah
1 Philippine Peso = 0.06904 Israeli Shekel
1 Philippine Peso = 1.28012 Indian Rupee
1 Philippine Peso = 22.94985 Iraqi Dinar
1 Philippine Peso = 692.86138 Iran Rial
1 Philippine Peso = 2.03638 Iceland Krona
1 Philippine Peso = 2.46903 Jamaican Dollar
1 Philippine Peso = 0.01391 Jordanian Dinar
1 Philippine Peso = 2.2151 Japanese Yen
1 Philippine Peso = 2.03441 Kenyan Shilling
1 Philippine Peso = 1.37082 Kyrgyzstan Som
1 Philippine Peso = 78.99705 Cambodia Riel
1 Philippine Peso = 8.32547 Comoros Franc
1 Philippine Peso = 17.69912 North Korean Won
1 Philippine Peso = 21.59685 Korean Won
1 Philippine Peso = 0.00593 Kuwaiti Dinar
1 Philippine Peso = 0.01613 Cayman Islands Dollar
1 Philippine Peso = 6.50443 Kazakhstan Tenge
1 Philippine Peso = 163.16618 Lao Kip
1 Philippine Peso = 29.60669 Lebanese Pound
1 Philippine Peso = 3.02262 Sri Lanka Rupee
1 Philippine Peso = 2.44897 Liberian Dollar
1 Philippine Peso = 0.2763 Lesotho Loti
1 Philippine Peso = 0.05995 Lithuanian Lita
1 Philippine Peso = 0.0122 Latvian Lat
1 Philippine Peso = 0.02689 Libyan Dinar
1 Philippine Peso = 0.18578 Moroccan Dirham
1 Philippine Peso = 0.34307 Moldovan Leu
1 Philippine Peso = 1.02635 Macedonian Denar
1 Philippine Peso = 26.80433 Myanmar Kyat
1 Philippine Peso = 47.94494 Mongolian Tugrik
1 Philippine Peso = 0.15822 Macau Pataca
1 Philippine Peso = 6.90266 Mauritania Ougulya
1 Philippine Peso = 0.6647 Mauritius Rupee
1 Philippine Peso = 0.30619 Maldives Rufiyaa
1 Philippine Peso = 14.0885 Malawi Kwacha
1 Philippine Peso = 0.37348 Mexican Peso
1 Philippine Peso = 0.08155 Malaysian Ringgit
1 Philippine Peso = 0.27622 Namibian Dollar
1 Philippine Peso = 7.00098 Nigerian Naira
1 Philippine Peso = 0.60177 Nicaragua Cordoba
1 Philippine Peso = 0.16317 Norwegian Krone
1 Philippine Peso = 2.03638 Nepalese Rupee
1 Philippine Peso = 0.02891 New Zealand Dollar
1 Philippine Peso = 0.00756 Omani Rial
1 Philippine Peso = 0.01967 Panama Balboa
1 Philippine Peso = 0.06359 Peruvian Nuevo Sol
1 Philippine Peso = 0.06374 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.06568 Pakistani Rupee
1 Philippine Peso = 0.07087 Polish Zloty
1 Philippine Peso = 110.87513 Paraguayan Guarani
1 Philippine Peso = 0.07473 Qatar Rial
1 Philippine Peso = 0.07785 Romanian New Leu
1 Philippine Peso = 1.16841 Russian Rouble
1 Philippine Peso = 16.36755 Rwanda Franc
1 Philippine Peso = 0.07374 Saudi Arabian Riyal
1 Philippine Peso = 0.15449 Solomon Islands Dollar
1 Philippine Peso = 0.26735 Seychelles Rupee
1 Philippine Peso = 0.13097 Sudanese Pound
1 Philippine Peso = 0.16686 Swedish Krona
1 Philippine Peso = 0.0267 Singapore Dollar
1 Philippine Peso = 0.01486 St Helena Pound
1 Philippine Peso = 0.4367 Slovak Koruna
1 Philippine Peso = 149.85251 Sierra Leone Leone
1 Philippine Peso = 10.99312 Somali Shilling
1 Philippine Peso = 410.64307 Sao Tome Dobra
1 Philippine Peso = 0.17207 El Salvador Colon
1 Philippine Peso = 10.12743 Syrian Pound
1 Philippine Peso = 0.27624 Swaziland Lilageni
1 Philippine Peso = 0.64562 Thai Baht
1 Philippine Peso = 0.04905 Tunisian Dinar
1 Philippine Peso = 0.04547 Tongan paʻanga
1 Philippine Peso = 0.07723 Turkish Lira
1 Philippine Peso = 0.13037 Trinidad Tobago Dollar
1 Philippine Peso = 0.59133 Taiwan Dollar
1 Philippine Peso = 43.93314 Tanzanian Shilling
1 Philippine Peso = 0.51976 Ukraine Hryvnia
1 Philippine Peso = 71.28811 Ugandan Shilling
1 Philippine Peso = 0.01967 United States Dollar
1 Philippine Peso = 0.57699 Uruguayan New Peso
1 Philippine Peso = 158.89873 Uzbekistan Sum
1 Philippine Peso = 0.19617 Venezuelan Bolivar
1 Philippine Peso = 446.39136 Vietnam Dong
1 Philippine Peso = 2.10089 Vanuatu Vatu
1 Philippine Peso = 0.05108 Samoa Tala
1 Philippine Peso = 10.98368 CFA Franc (BEAC)
1 Philippine Peso = 0.0531 East Caribbean Dollar
1 Philippine Peso = 10.988 CFA Franc (BCEAO)
1 Philippine Peso = 1.98682 Pacific Franc
1 Philippine Peso = 4.91504 Yemen Riyal
1 Philippine Peso = 0.2763 South African Rand
1 Philippine Peso = 102.05507 Zambian Kwacha
1 Philippine Peso = 7.11701 Zimbabwe dollar

PH to grow fastest in region: OECD

The Organization for Economic Cooperation and Development (OECD) said the Philippine economy will grow at an average of 6.4 percent on the medium term, 50 basis points higher than its growth in the previous five years of 5.9 percent, the OECD Development Centre  in its latest report.

With the projected average between 2018 and 2022, the Philippines is pegged to grow the fastest among the top five economies --- Indonesia, Malaysia, Philippines, Thailand, and Vietnam --- in Southeast Asia.

In the Philippines, OECD said consumption and fixed investments, which grew an average of 6.1 percent and 11.7 percent, respectively, from 2011 to 2016  will continue to fuel economic growth until 2022, underpinned by “robust remittance inflow from oversea workers, planned big-ticket infrastructure projects and the resilience of offshoring and outsourcing industry.” 

The report said  benign inflation, a stable financial sector, an accommodative monetary policy, robust remittance inflows, and a healthy fiscal position should continue to facilitate domestic consumption growth at least until the end of the year. 

“The sustained resurgence in consumer confidence backs up this prognosis. Public spending year-to-date, year-on-year is still subdued compared to last year. But frictions are diminishing, which bodes well for public project delivery moving forward,” the report said.

“On the other hand, commodity export volume growth has eased somewhat since April 2017... Taking all of these into account, the Philippine economy is projected to grow by 6.6 percent in 2017, with growth in 2017 H2 anticipated to be slightly faster than in 2017 H1,” it added.

Meanwhile, the report said  the proposed reduction in the personal income tax rate of a significant portion of workers nationwide, contained in tax reform package legislation, should contribute to consumer spending momentum. 

“The consistent growth in remittances from overseas workers is another positive factor, with government spending expected to gain momentum should planned major infrastructure projects go forward,” it said.

OECD’s  investment outlook for the Philippines, however, is modest. 

“Even though domestic and external demand have been quite robust, the pullback in fixed investment growth – from double digits since 2014 to below 9.4 percent in 2017 Q2 – signals some apprehension among investors, albeit not to a worrisome degree at this point,” the report said.

The report said full liberalization of the banking sector and increased focus on e-commerce services are expected to attract interest among offshore investors in the coming years. 

“Manufacturing, especially the semiconductor business, is also well positioned to capture opportunities presented by improvements in external conditions, although issues related to electricity cost and stability require further action,” the paper said.

“At the same time, commitments in business process outsourcing have reportedly fallen... while anecdotal evidence shows that revenue growth is slowing down. Investment in the mining sector has also remained subdued in the absence of a clear regulatory framework,” it added.

The report said that a key challenge is to alleviate business uncertainties related to contract enforcement and continuity of government programs. 

“Efforts undertaken to facilitate competition in various sectors should help spark investor interest, as should government’s decision to review the foreign investment negative list and to update of the Investment Priorities Plan,” it said.

“Timely delivery of above-standard big-ticket infrastructure projects announced and planned to be completed before national elections in 2022, is another challenge,” it added.

In the same report, OECD said Southeast Asia is seen to grow an average of 5.2 percent between 2018 and 2022, relatively flat compared to the 5.1 percent growth between 2011 and 2015. 

“Growth prospects of Asean are anchored on robust domestic private spending and on the infrastructure initiative presented by a number of governments,” the OECD said.

The OECD said growth in Emerging Asia --- Southeast Asia, China, and India --- is projected to remain robust in 2017. 

“Growth in many Asean  countries and China has picked up strong trade rebound and resilient domestic consumption, while growth in India has edged downwards owing to taxation and monetary reforms,” it said. 

While growth will slow down in China, it is expected to stay brisk in India. Southeast Asia is poised to maintain strong growth momentum from 2018 to 2022 on robust domestic private spending and infrastructure initiatives planned by a number of government. 

The external position of emerging Asian economies meanwhile have remained generally sold. 

Close attention should be paid to narrowing job mismatches and generating more quality, high-value-added jobs, the report said. 

Meanwhile, as highlighted in the Philippine Development Plan 2017-2022, the report said that there is a need to address the country’s underdeveloped infrastructure. 

“While improvements have been made in recent years, additional capital and efficient investments will be needed to keep up with demand for infrastructure development in the fast-growing economy,” it said.

“The government is looking to attract investors for public-private partnerships (PPPs), but faces challenges such as the absence of a deep long-term fund pool, which means that private project developers bear higher costs of credit,” it added. 

The publication said that the PPP Center could be strengthened in terms of its mandate and resources. 

“While the bond market could provide an alternative source of financing, these markets need further development; the ratio of the total outstanding value of local-currency bonds to GDP remains relatively small,” it said.

“Non-traditional tools, such as levies to capture the appreciation in land value resulting from infrastructure development, could also be considered to raise revenues,” it added.
Category: 
Rating: 
No votes yet

Column of the Day

Fascinating history (1)

By PHILIP S. CHUA | November 23,2017
‘The physicians at that time did not even know that simple aspirin had any potential role in the prevention or treatment of heart attacks.’

Opinion of the Day

President Duterte remains popular

By NESTOR MATA | November 23, 2017
‘This is despite controversies in almost two years as President of the Philippines.’