Monday 21 September 2009

PHILIPPINES: Goldman Sachs, DBS turn bullish on RP

Diaspora Journey: It is remarkable how remittances from overseas Filipino workers help in time of economic crisis.



By Michelle Remo, Ronnel Domingo
Philippine Daily Inquirer
First Posted 00:04:00 09/21/2009

Fi

FOREIGN FINANCIAL INSTITUTIONS are turning bullish on the Philippines after the local economy showed resilience in the first half of 2009 and avoided falling into a recession.

Goldman Sachs has raised its economic growth projections for the Philippines, saying stable remittances and pump-priming by the government would help boost the country’s productivity to levels higher than initially expected.

Singapore-based DBS Bank also raised its forecast growth for the Philippines’ gross domestic product (GDP) for 2009 to 1.6 percent from 0.5 percent, citing “the strong second-quarter rebound.”

In a paper on the Philippines, Goldman Sachs said it now expected the domestic economy to grow 1.6 percent this year and by 4.2 percent in 2010. Read more

1 comment:

  1. Hi !.
    You may , perhaps curious to know how one can manage to receive high yields .
    There is no initial capital needed You may begin to receive yields with as small sum of money as 20-100 dollars.

    AimTrust is what you thought of all the time
    The company represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

    It is based in Panama with offices around the world.
    Do you want to become really rich in short time?
    That`s your chance That`s what you desire!

    I feel good, I started to get income with the help of this company,
    and I invite you to do the same. If it gets down to choose a proper partner who uses your funds in a right way - that`s the AimTrust!.
    I take now up to 2G every day, and my first investment was 500 dollars only!
    It`s easy to get involved , just click this link http://wenuboqah.lookseekpages.com/obepihyl.html
    and lucky you`re! Let`s take this option together to become rich

    ReplyDelete