Over the short term, we expect GDP to swing from contraction this year to growth ranging from 6.5 to 7.5 percent next year and in 2022. Inflation is expected to remain within the 2.0 to 4.0 percent target range this year and until 2022. Exports will rebound from negative 16 percent this year to a growth of 5 percent next year.
Imports will reverse from negative 18 percent this year to a growth of 8 percent next year. Foreign direct investments will improve from $ billion this year to $ billion next year. Remittances will swing from a 5-percent contraction this year to 4-percent growth next year. Year-to-date, overseas Filipino remittances fell by only 2.4 percent.