What awaits the Philippines this year? For the past years, Dr. Josef Yap has written fearless forecasts for the country and discussed the various issues confronting both the economic and government sectors. This year, as the newly installed president of the Philippine Institute for Development Studies (PIDS), he delivers a nearly positive outlook for the country. He starts out with a statement of a “less tumultuous” political situation in 2006 compared to 2005. Although the hike in the oil industry will bring down growth prospects, he says that recovery in the agriculture sector and a strong performance of the manufacturing sector will even things out. He also says that a lackluster performance in some areas and a possible reenactment of the 2005 budget will set off negative outcomes. However, Yap still sees the silver lining and forecasts a generally positive 2006, even seeing an encouraging investor confidence this year.
