Strong exports may save GDP – Barclays

The Philippines’ gross domestic product (GDP) may grow by a still robust 6.5 percent in 2014 and again in 2015 despite the stunted pace of government spending resulting from the controversy over the presidential Disbursement Acceleration Program (DAP), the UK-based investment bank Barclays said.a

In its Emerging Markets Quarterly report, Barclays said subdued fiscal spending has been a drag on recent growth, affecting capital spending and government consumption, and also starting to affect private consumption spending, despite government efforts to speed up outlays ahead of the 2016 elections.