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MANILA - The Philippine economy is expected to return to its 6 to 7-percent growth trajectory in 2022 after nearly two years of grappling with the pandemic despite the threat of the Omicron variant, according to the investment banking arm of the Metrobank Group. First Metro Investment Corporation (FMIC) said this year's economic growth will be driven by sustained domestic demand, easing inflation, election expenditures, and accelerated government spending on infrastructure projects. "Notwithstanding the ongoing pandemic, and Omicron sparking the third wave of infections, we are still optimistic that Philippine growth will further accelerate and get back on its trajectory of 6-7 percent in 2022," FMIC president Jose Patricio Dumlao said in a virtual briefing Tuesday. Dumlao said the economy registered a 4.9-percent growth in the first three quarters of 2021 and the growth momentum likely spilled over in the fourth quarter given further economic reopening and easing mobilit ....

Jose Patricio Dumlao , Victor Abola , Francisco Sebastian , First Metro Investment Corporation , University Of Asia , Metrobank Group , Metro Investment Corporation , Manila The Philippine Economy Is Expected To Return Its 6 7 Percent Growth Trajectory In 2022 After Nearly Two Years Of Grappling With Pandemic Despite Threat Omicron Variant , Ccording To The Investment Banking Arm Of Metrobank Group First Metro Corporation Fmic Said This Year 39s Economic Growth Will Be Driven By Sustained Domestic Demand , Easing Inflation , Election Expenditures , Nd Accelerated Government Spending On Infrastructure Projects Quot Notwithstanding The Ongoing Pandemic , Nd Omicron Sparking The Third Wave Of Infections , E Are Still Optimistic That Philippine Growth Will Further Accelerate And Get Back On Its Trajectory Of 6 7 Percent In 2022 , Uot Fmic President Jose Patricio Dumlao Said Ina Virtual Briefing Tuesday The Economy Registereda 4 9 Percent Growth In First Three Quarters Of 2021 And Momentum Likely Spilled Over Fourth Quarter Given Further Economic Reopening Easing Mobility Restrictions He Added Business Consumer Confidence Are Also Cautiously Positive Wider Availability Vaccines Relaxation Lockdowns , Quarantine Measures , Nd Mobility Restrictions University Of Asia And The Pacific Ua Ampp Economist Dr Victor Abola Said 6 To 7 Percent Gross Domestic Product Gdp Projection This Year Will Be Led By Industry Sector Both Construction Manufacturing Services Still Lagging As Pandemic Measures Hit Hotels Restaurants Quot Philippine Situation Is That There Recovery But On Way Reach Pre Levels , Uot He Said The Country 39s Gdp Posteda 9 5 Percent Full Year Growth Rate In 2020 Compared To Its Pre Pandemic Performance 2019 Abola Business Process Outsourcing Bpo Isa Major Contributor Resiliency Of Economy Amid Quot And It Not Same As Usual Call Centers , Tc You Can See There Are New , Merging Segments And That Is What Companies Are Focusing On , Uot He Said , Iting Insurance , Life Sciences , Nd Data Analytics , Mong Others Aside From Bpo Revenues , Mic Chairman Francisco Sebastian Said The Overseas Filipino Workers Ofw Remittances Are Boosting Economy Quot These Two Things Not As Sexy Other Like Technology And Telecoms This Is What Holding Us Up Continue To Grow ,