AMRO Report: Philippines is "Top Economic Performer" in Asia Under the Duterte Administration


Critis of Pres. Rody Duterte is definitely crying right now according to some netizens who are vocal supporters of the President after the ASEAN +3 Macroeconomic Research Office (AMRO) released a report naming the Philippines as "The Top Economic Performer" in the Asian Region.


According to the reports the Duterte administration does not pose political risks that might make the country less attractive for investments.

The Singapore-based international group, AMRO, which released its inaugural flagship report on the economic outlook for the Association of Southeast Asian Nations (ASEAN), China, Japan and South Korea, is projecting regional gross domestic product to grow at 5.2 percent this year, with inflation under control despite global economic uncertainty.


Hoe Ee Knor, Chief Economist of AMRO revealed in a news briefing explained when asked if there were facts that could alter the group's projections for the Philippines. The AMRO economist stated that "The Philippines is the top performer." "It is very attractive destination for investments.

When asked if he saw political risks from the new government of Pres. Rody Duterte, Khor replied, "So far, not much ... growth will continue."

Knor also explained that the risks for the Philippines are mainly external as he noted that the economy is heavily dependent on overseas workers' remittances and business process outsourcing.

The Philippines has built strong buffers and he country's financial reserves are "relatively high." Inflation s picking up and the current account deficit may be a cause for concern, "but this is a good current account deficit because it's sustained by investments.

Source: PhilStar


AMRO Report: Philippines is "Top Economic Performer" in Asia Under the Duterte Administration AMRO Report: Philippines is "Top Economic Performer" in Asia Under the Duterte Administration Reviewed by Phil Newsome on 5/05/2017 Rating: 5

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