Fast Facts: Asean economy
604.8 million Estimated Asean population as of 2011
604.8 million Estimated Asean population as of 2011
Optimism is soaring that the Philippines is finally becoming an Asian tiger economy, but critics caution a tiny elite that has long dominated is amassing most of the new wealth while the poor miss out.
Government economic managers see the national government’s debt stock easing to 48 percent of gross domestic product (GDP) in 2013 as they advance efforts to manage the obligation portfolio.
President Aquino said sustaining the economic growth achieved in 2012 would be among the serious challenges his administration would face in the next three years.
A World Bank official has called the huge number of unemployment and underemployment in the Philippines as a huge challenge for the Aquino administration.
The local stocks index was seen rallying for the fifth straight year in 2013, targeting the 6,000 to 6,500 levels alongside a rosy local economic backdrop, Banco de Oro Unibank’s chief market strategist said. In his yearend report, BDO’s Jonathan Ravelas also projected a peso-dollar range of 39 to 43.50 against the dollar for the [...]
The Philippine economy grew 7.1 percent in the third quarter year-on-year, exceeding expectations and making it the best performer in Southeast Asia.
The Philippine economy “roared like a lion” in the third quarter in 2012, with the gross domestic product (GDP) growing by 7.1 percent, Malacañang officials said on Wednesday.
The Philippine economy expanded by 7.1 percent in the third quarter, according to government officials. Thus, the economy is poised to meet the 7 to 8 percent average annual growth rate that government targeted in its medium-term plan to curb poverty.
The Philippines is more resilient to the dampening effects of unfavorable developments in the global economy than most emerging markets in the region.
American financial giant Bank of America Merrill Lynch has upgraded its domestic economic growth outlook for the Philippines this year but tempered its outlook for 2013 as a challenging global environment is seen to affect exports.
The Philippines’ external debt ratio—total foreign debt of the government and private sectors taken as a percentage of the country’s gross domestic product—dropped in the first quarter of the year even though the amount in absolute terms went up, the central bank announced Friday.
