The Barclays, a British investment bank and financial services company, recently released its positive forecast on the Philippines’ economy in 2018.
The Barclays attributed its positive forecast to the country’s structural inflows including remittances of overseas Filipino workers (OFWs).
Foreign direct investment (FDI) as well as government spending boosted by the Duterte administration’s massive infrastructure projects under the “Build, Build, Build” program has also been cited by Barclays in its forecast.
“We welcome the recent Philippine growth outlook by the Barclays, stating that the country is seen to reach a growth close to 6.5% in 2018,” Presidential Spokesperson Harry Roque said.
“Like our government, Barclays is also expecting that we can achieve high growth rate despite all the challenges that we have experienced in the previous months,” Sec. Roque said.