BMI Research sees a robust economic growth for the Philippines in the future under the Duterte administration. The Philippines, together with Indonesia, Myanmar, Vietnam, Bangladesh, Egypt, Ethiopia, Kenya, Nigeria and Pakistan, is expected to contribute an additional $4.3 trillion to the global gross domestic product (GDP) by 2025.
The research firm, acquired by Fitch Ratings Inc. in 2014, pointed out that the ongoing economic reforms and the anti-corruption drive have made the country more conducive to investment. BMI Research said that they expect greater investments from the private sector over the coming years.
BMI Research said that the biggest winners will come from the construction and automotive industry. By 2025, investments will cover 30 percent of the GDP. The 60 percent of which would come from transport infrastructure. A higher demand for commercial and passenger vehicle is also expected and production is projected to hit 410,000 units annually by 2020 from 140,000 in 2015.
Just last week, Duterte gave his approval to his economic managers on the proposed “24/7” work scheme on major infrastructure projects. The move was in line with the administration’s goal to increase infrastructure spending to 5.2 percent of the GDP by 2017.
