World Bank estimates PH growth to over 6% for 8 years until 2019
In a report published by bloomberg.com, the World Bank forecasts that Philippine growth expansion will be more than 6 percent for eight years until 2019 as the country reached 6.8 percent in 2016.
Based on the report, the PH economy is now about $292 billion, which was more than twice the size of Malaysia’s and 10 times bigger than Singapore’s in 1960.
According to debt watcher S&P Global Ratings in its “Asia-Pacific Sovereign Rating Trends” report, as cited by bworldonline.com, PH likely grew by 6.6% in 2016, higher than its previous 6.5% forecast given last September.
S&P report stated: “The stable outlook balances the Philippines’ lower middle-income economy and diminished policy stability, predictability, and accountability against its strong external position, which features rising foreign exchange reserves and low and declining external debt.”
Source: bloomberg.com, bworldonline.com
