Moody’s Investors Service forecast that Philippine economic growth will exceed 6 percent until next year, and said the conflict in the south and a deadly drug war pose a rising risk but is unlikely to derail the economy.Gross domestic product will expand 6.5 percent this year and 6.8 percent in 2018, the rating company said in a statement on Friday.
Grounded planes are helping a Philippine stock fly.Behind the five-fold increase in MacroAsia shares this year is a venture’s expanded jet service and maintenance business. The company is the top performer among the 274 equities listed on the Philippine Stock Exchange, with its market value approaching 300 million dollars.
Philippine financial markets were closed on Tuesday along with government offices and schools as heavy overnight rains flooded parts of the capital Manila and nearby provinces.Currency, stocks and bonds trading were suspended after the office of President Rodrigo Duterte halted work in government offices, BSP (Bangko Sentral ng Pilipinas) Governor Nestor Espenilla said.
