by: Sarah Joson
Wednesday, October 23, 2013 | Outsourcing News |
According to Col Financial Group, Inc. Head April Lee-Tan, they are still optimistic that the stock market will continue to pull up and reach 7,000 next year. However, the flattish earnings of local banks might pose a threat.
Meanwhile, Nomura Equity Research, the research division of Japanese investment bank Nomura, stated that on the earnings and profitability side, the Philippines will post slower growth compared to its counterparts in Southeast Asia. The bank added that Singapore and the Philippines might post the lowest growth rates while the region could experience an average growth rate of nine percent next year.
On the other hand, Tan noted that the country will withstand the challenges as it possesses a strong fundamental framework. She added that even with the unstable state of foreign economies, the Philippines will stay resilient.
Three things that are seen reinforcing the strength of the Philippine economy are the current account surplus of the country, remittances from overseas Filipino workers, and the strong business process outsourcing (BPO) sector.
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