The Philippine Economic juggernaut continues!
Though the Philippine economy was shaken by what happened to China's stock market last August, Philippines stayed strong and shrugged off the economic collapse of it's neighbor.
The growth of the Philippine economy is expected to remain strong until 2017, due to its large working-age population and stable fundamentals, according to World Bank
Not even the upcoming 2016 election can slow down the rising star of Asia.
Notwithstanding the weak economic growth
of the country during the first quarter, World Bank remains optimistic
and maintains its economic growth forecast for the Philippines.
The Philippine economy grew 5.2 percent in the first quarter; slower than the government’s full year target of 7 to 8 percent.
According to Rogier van den Brink, lead economist for the World Bank in the
Philippines, : “Most of you will probably
report on these growth forecasts for the Philippines in the context of
more challenging environment, including the higher borrowing costs,
lower prices for oil and other commodities, the easing of growth in
China and other countries in the East Asia and the Pacific region, and
so on. That’s fine, but if you do focus solely on these growth
forecasts, you will miss on what I think is the more important and
emerging story about the Philippines,”
World Bank’s projections for the
Philippines are better than most of its neighbors. Indonesia and
Malaysia are expected to grow at a more modest 4.7 percent in 2015,
while Thailand is projected to grow 3.5 percent.
Feeling optimistic about the Philippine Economy. Mabuhay ang Pilipinas!