18 January 2023

Top economist Jonathan Ravelas recently shared his forecast for the Philippine economy in a forum organized by DivinaLaw.

“What are the reasons for my optimism on the Philippine economy?” asked Ravelas.

“One, people talk about the passage of the 2023 budget. Recently, the medium-term fiscal framework has been passed. We have favorable demographics. We have ample buffers (on GIR – gross international reserves). “Build, Build More” – the story of infrastructure spending. Of course, we still have a strong credit rating. Recently, we were able to borrow an additional 3 billion dollars in the international market. And of course, the Philippine Development Plan. Hopefully, this will accelerate the economic recovery and the resilient prosperity that they mentioned in the President’s State of the Nation Address. All of this is geared towards a stronger growth.”

Ravelas has repeatedly been named as one of the most accurate forecasters by FocusEconomics.

DivinaLaw regularly organizes seminars on highly relevant topics for clients and the general public.