The world-renowned economic powerhouse, the World Bank projected that for the year 2017, the Philippine economy is expected to advance between 6.5 to 7.5% and would occupy the position of the world's 10th fastest growing economy.
In the latest report posted by Forbes contributor Panos Mourdoukoutas he reported that Pres. Duterte may receive poor marks for his human rights record, but he's doing really well when it comes to the economy as the Philippines even beat China in economic growth.
The Philippines economy grew at an annual 6.9% in the September quarter of 2017, considered as the strongest since the third quarter of 2016. It is slightly above China's third quarter annual growth, which grew 6.8% in the third quarter of 2017, that country’s weakest pace of expansion since the fourth quarter of 2016.
According to Tradingeconomics.com report, the GDP Annual Growth Rate in the Philippines averaged 3.72 percent from 1982 until 2017, reaching an all-time high of 12.40% in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985.
Aside from the faster economic growth of the Philippine economy under the leadership of Pres. Rody Duterte, the Philippine economy has also been getting better.
The trade deficit narrowed to USD 1.91 billion in September of 2017 from USD 2.02 billion in the same month a year earlier. Non-performing loans dropped down to 1.8%, as business access to bank lending improved. And the debt-to-GDP ratio edged lower, while that ratio, for other Asian countries including China, soared.
The Philippines’ economy has been helped by a stable macroeconomic environment, tax reforms, market liberalization, brisk infrastructure spending, and a revival in the global economy.
Source: Forbes
In the latest report posted by Forbes contributor Panos Mourdoukoutas he reported that Pres. Duterte may receive poor marks for his human rights record, but he's doing really well when it comes to the economy as the Philippines even beat China in economic growth.
The Philippines economy grew at an annual 6.9% in the September quarter of 2017, considered as the strongest since the third quarter of 2016. It is slightly above China's third quarter annual growth, which grew 6.8% in the third quarter of 2017, that country’s weakest pace of expansion since the fourth quarter of 2016.
According to Tradingeconomics.com report, the GDP Annual Growth Rate in the Philippines averaged 3.72 percent from 1982 until 2017, reaching an all-time high of 12.40% in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985.
Aside from the faster economic growth of the Philippine economy under the leadership of Pres. Rody Duterte, the Philippine economy has also been getting better.
The trade deficit narrowed to USD 1.91 billion in September of 2017 from USD 2.02 billion in the same month a year earlier. Non-performing loans dropped down to 1.8%, as business access to bank lending improved. And the debt-to-GDP ratio edged lower, while that ratio, for other Asian countries including China, soared.
The Philippines’ economy has been helped by a stable macroeconomic environment, tax reforms, market liberalization, brisk infrastructure spending, and a revival in the global economy.
Source: Forbes
World Bank: Philippine Economy to Occupy the World's 10th Fastest Growing Economy by 2017
Reviewed by Phil Newsome
on
December 10, 2017
Rating:
Reviewed by Phil Newsome
on
December 10, 2017
Rating:
