April 19, 2018, 11:36 pm
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1 Philippine Peso = 0.07053 UAE Dirham
1 Philippine Peso = 1.99923 Albanian Lek
1 Philippine Peso = 0.03418 Neth Antilles Guilder
1 Philippine Peso = 0.38677 Argentine Peso
1 Philippine Peso = 0.02467 Australian Dollar
1 Philippine Peso = 0.03418 Aruba Florin
1 Philippine Peso = 0.03841 Barbados Dollar
1 Philippine Peso = 1.59228 Bangladesh Taka
1 Philippine Peso = 0.03034 Bulgarian Lev
1 Philippine Peso = 0.00724 Bahraini Dinar
1 Philippine Peso = 33.62742 Burundi Franc
1 Philippine Peso = 0.0192 Bermuda Dollar
1 Philippine Peso = 0.02503 Brunei Dollar
1 Philippine Peso = 0.13175 Bolivian Boliviano
1 Philippine Peso = 0.06526 Brazilian Real
1 Philippine Peso = 0.0192 Bahamian Dollar
1 Philippine Peso = 1.26032 Bhutan Ngultrum
1 Philippine Peso = 0.18403 Botswana Pula
1 Philippine Peso = 384.48243 Belarus Ruble
1 Philippine Peso = 0.03837 Belize Dollar
1 Philippine Peso = 0.02421 Canadian Dollar
1 Philippine Peso = 0.01858 Swiss Franc
1 Philippine Peso = 11.41406 Chilean Peso
1 Philippine Peso = 0.12052 Chinese Yuan
1 Philippine Peso = 52.12791 Colombian Peso
1 Philippine Peso = 10.7778 Costa Rica Colon
1 Philippine Peso = 0.0192 Cuban Peso
1 Philippine Peso = 1.71039 Cape Verde Escudo
1 Philippine Peso = 0.39282 Czech Koruna
1 Philippine Peso = 3.39601 Djibouti Franc
1 Philippine Peso = 0.11551 Danish Krone
1 Philippine Peso = 0.94891 Dominican Peso
1 Philippine Peso = 2.1798 Algerian Dinar
1 Philippine Peso = 0.24262 Estonian Kroon
1 Philippine Peso = 0.33916 Egyptian Pound
1 Philippine Peso = 0.52276 Ethiopian Birr
1 Philippine Peso = 0.01551 Euro
1 Philippine Peso = 0.03865 Fiji Dollar
1 Philippine Peso = 0.01348 Falkland Islands Pound
1 Philippine Peso = 0.01349 British Pound
1 Philippine Peso = 0.08525 Ghanaian Cedi
1 Philippine Peso = 0.89975 Gambian Dalasi
1 Philippine Peso = 172.80584 Guinea Franc
1 Philippine Peso = 0.14089 Guatemala Quetzal
1 Philippine Peso = 3.95007 Guyana Dollar
1 Philippine Peso = 0.15072 Hong Kong Dollar
1 Philippine Peso = 0.45249 Honduras Lempira
1 Philippine Peso = 0.11491 Croatian Kuna
1 Philippine Peso = 1.24505 Haiti Gourde
1 Philippine Peso = 4.8093 Hungarian Forint
1 Philippine Peso = 264.60534 Indonesian Rupiah
1 Philippine Peso = 0.06739 Israeli Shekel
1 Philippine Peso = 1.26727 Indian Rupee
1 Philippine Peso = 22.73862 Iraqi Dinar
1 Philippine Peso = 806.60649 Iran Rial
1 Philippine Peso = 1.91031 Iceland Krona
1 Philippine Peso = 2.37565 Jamaican Dollar
1 Philippine Peso = 0.01361 Jordanian Dinar
1 Philippine Peso = 2.06171 Japanese Yen
1 Philippine Peso = 1.92145 Kenyan Shilling
1 Philippine Peso = 1.32194 Kyrgyzstan Som
1 Philippine Peso = 76.97331 Cambodia Riel
1 Philippine Peso = 7.61206 Comoros Franc
1 Philippine Peso = 17.28442 North Korean Won
1 Philippine Peso = 20.40042 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01575 Cayman Islands Dollar
1 Philippine Peso = 6.25043 Kazakhstan Tenge
1 Philippine Peso = 158.93989 Lao Kip
1 Philippine Peso = 28.9034 Lebanese Pound
1 Philippine Peso = 2.99693 Sri Lanka Rupee
1 Philippine Peso = 2.50451 Liberian Dollar
1 Philippine Peso = 0.22892 Lesotho Loti
1 Philippine Peso = 0.05855 Lithuanian Lita
1 Philippine Peso = 0.01192 Latvian Lat
1 Philippine Peso = 0.02543 Libyan Dinar
1 Philippine Peso = 0.17577 Moroccan Dirham
1 Philippine Peso = 0.31452 Moldovan Leu
1 Philippine Peso = 0.94968 Macedonian Denar
1 Philippine Peso = 25.52333 Myanmar Kyat
1 Philippine Peso = 45.86134 Mongolian Tugrik
1 Philippine Peso = 0.15521 Macau Pataca
1 Philippine Peso = 6.76013 Mauritania Ougulya
1 Philippine Peso = 0.64144 Mauritius Rupee
1 Philippine Peso = 0.29902 Maldives Rufiyaa
1 Philippine Peso = 13.70175 Malawi Kwacha
1 Philippine Peso = 0.35007 Mexican Peso
1 Philippine Peso = 0.07459 Malaysian Ringgit
1 Philippine Peso = 0.22915 Namibian Dollar
1 Philippine Peso = 6.87536 Nigerian Naira
1 Philippine Peso = 0.59554 Nicaragua Cordoba
1 Philippine Peso = 0.14884 Norwegian Krone
1 Philippine Peso = 2.01652 Nepalese Rupee
1 Philippine Peso = 0.02629 New Zealand Dollar
1 Philippine Peso = 0.00739 Omani Rial
1 Philippine Peso = 0.0192 Panama Balboa
1 Philippine Peso = 0.06176 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21836 Pakistani Rupee
1 Philippine Peso = 0.06459 Polish Zloty
1 Philippine Peso = 106.04187 Paraguayan Guarani
1 Philippine Peso = 0.0699 Qatar Rial
1 Philippine Peso = 0.07223 Romanian New Leu
1 Philippine Peso = 1.16816 Russian Rouble
1 Philippine Peso = 16.22066 Rwanda Franc
1 Philippine Peso = 0.07202 Saudi Arabian Riyal
1 Philippine Peso = 0.14768 Solomon Islands Dollar
1 Philippine Peso = 0.25792 Seychelles Rupee
1 Philippine Peso = 0.34667 Sudanese Pound
1 Philippine Peso = 0.161 Swedish Krona
1 Philippine Peso = 0.02513 Singapore Dollar
1 Philippine Peso = 0.01349 St Helena Pound
1 Philippine Peso = 0.42646 Slovak Koruna
1 Philippine Peso = 146.53351 Sierra Leone Leone
1 Philippine Peso = 10.79316 Somali Shilling
1 Philippine Peso = 380.06338 Sao Tome Dobra
1 Philippine Peso = 0.16804 El Salvador Colon
1 Philippine Peso = 9.89015 Syrian Pound
1 Philippine Peso = 0.22917 Swaziland Lilageni
1 Philippine Peso = 0.599 Thai Baht
1 Philippine Peso = 0.04602 Tunisian Dinar
1 Philippine Peso = 0.04292 Tongan paʻanga
1 Philippine Peso = 0.07736 Turkish Lira
1 Philippine Peso = 0.12961 Trinidad Tobago Dollar
1 Philippine Peso = 0.56365 Taiwan Dollar
1 Philippine Peso = 43.7488 Tanzanian Shilling
1 Philippine Peso = 0.50259 Ukraine Hryvnia
1 Philippine Peso = 70.84694 Ugandan Shilling
1 Philippine Peso = 0.0192 United States Dollar
1 Philippine Peso = 0.54158 Uruguayan New Peso
1 Philippine Peso = 154.65719 Uzbekistan Sum
1 Philippine Peso = 1139.831 Venezuelan Bolivar
1 Philippine Peso = 437.43038 Vietnam Dong
1 Philippine Peso = 2.00538 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.16881 CFA Franc (BEAC)
1 Philippine Peso = 0.05185 East Caribbean Dollar
1 Philippine Peso = 10.16881 CFA Franc (BCEAO)
1 Philippine Peso = 1.83983 Pacific Franc
1 Philippine Peso = 4.79931 Yemen Riyal
1 Philippine Peso = 0.2292 South African Rand
1 Philippine Peso = 99.66391 Zambian Kwacha
1 Philippine Peso = 6.95026 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.
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