Average inflation for the first 2 months of the year is at 3 percent, exactly at the midpoint of the government’s target range. This is consistent with our expectation that inflation will settle within the target range of 2 –4 percent in 2017 and 2018. This environment gives us a sound basis to be optimistic about the Philippine economic outlook.
We believe that the economy can attain its GDP growth target of 6.5-7.5 percent for the year, and remain a source of strength for the ASEAN region. Moving forward, our fundamentals will serve as the spring of resilience in the economy amidst the external headwinds.