According to financial giant Morgan Stanley, the Philippine economy is set to rebound in 2021 with a prospect for low inflation and the government’s push for infrastructural development. The “looming availability of vaccines against COVID-19” also contributes to an optimistic economic outlook next year.
The multinational investment bank sees a 13.5% increase in its GDP forecast for the country from its previous growth forecast of 13.1%. In a separate report dated November 15, Morgan Stanley forecasted stable inflation in the country by 3% in 2021 and 3.3% in 2022. Annual economic growth of 6.5% is also projected from 2023 to 2025 while the government targets around 6.5-7.5% in 2021 and 2022.
Source: Business Inquirer