Investor Presentaiton
Our Macroeconomic View
2Q 2020 GDP change (versus 2Q 2019, in %) ASEAN-5, US, China, Taiwan
+
+0.4
+3.2
Singapore US Malaysia Philippines Thailand Indonesia Taiwan Vietnam
China
GT
GT CAPITAL
Global
•
Expectedly, economies around the
world have suffered from the COVID-
19 pandemic
Governments have responded by
reducing interest rates and providing
stimulus packages
Philippines
First recession since 1991
FY2020 GDP forecasts revised
downwards as the crisis unfolds
Consumption Spending down -15.5%
in 2Q2020
Unemployment rate reached 17.7%,
15-year high
Uncertainty remains due to COVID-19
-5.3 -0.7
-12*
-17.1 -16.5
-32.9
-41.2
Source: Government statistics from each country; *Estimate from Kasikornbank
.
2020 Philippine GDP Growth Forecasts (in %)
Shift to ECQ
6.3 6.1
IMF
Moody's
World Bank
ADB
Fitch
Shift to
MECQ
3.0 2.0 1.0 0.6
2Q GDP
0.6
results
release
Feb
Feb
Mar Apr Apr Apr
May May Jun
-0.2 -0.2
Jun
Jun Jun
Jul
Aug
-1.9
-4.0
-3.8
-4.5
-9.0
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