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Friday, August 19, 2022

Sun Life Remains to Have a Positive Outlook on the Philippine Economy for the 2nd Half of 2022 Amid High Oil Prices

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Sun Life Investment Management and Trust Corporation (SLIMTC) has recently released their market oulook for the 2nd half of the year in the Philippines. It was presented by SLIMTC President and Chief Investments Officer Mike Enriquez last June 30.

Based on the data that they had gathered, the GDP figures for the 1st quarter of the year is astonishing as the GDP grew by 8.3% Year-on-Year (YoY). This was due to the easing of restrictions and also due to the election. They are expecting a GDP growth of about 6.3-10% for 2022.

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They are estimating that the inflation for this year will be around 3.8-5%. The transport sector has been badly hit by the rising oil prices with the inflation registering in this sector at a whooping 14.6%.

They are expecting that the expected range for USD-PHP exchange rate this year is around 52-54 pesos. The weaker peso is largely driven by inflation-related sentiment.

The forecasted Earnings per Share (EPS) growth for 2022 is at 22%. This is good as this will help drive the economy but it does not mean that the PSEi will move up along with it.

This article has been initially published last

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