Inside the Philippines: August 2023

On the Rise: ADB maintains optimistic GDP projections

ADB reports robust investment and consumption spurred Q1 2023 GDP growth

Policy Perspectives: President highlights economic growth in SONA; World Bank applauds pandemic measures

President Ferdinand Marcos Jr. reports on economic progress in second SONA
World Bank praises Philippine government's COVID-19 response

Cyber Shift: Digital payments see significant uptick, Alibaba Cloud forecasts increase in corporate cloud migration

BSP Reports digital payments made up 42.1% of all transactions in 2022
Alibaba Cloud expects Philippine firms to fully adopt cloud operations by 2025

Deal Highlight: CVC Capital secures majority stake in The Medical City (TMC)

CVC Capital to acquire a 60% stake in TMC for USD 270M

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