The Philippines is likely to outperform consensus growth forecasts this year with the political and reform environment looking ripe for the implementation of more changes and the world economy appearing to be on the mend, New York-based think tank Global Source said.
The Philippine economy will likely grow at a faster pace this 2012 from last year’s anemic performance as the government’s pump-priming could add to the momentum from private consumption and prospective export recovery, according to New York-based think tank Global Source.
New York-based think tank Global Source has slashed its growth projections for the Philippine economy this and next year, citing the “infinitely gloomier” global environment and little room for the government to boost infrastructure spending.
It will take more than a strong anti-corruption thrust – as highlighted in the President Aquino’s State-of-the-Nation-Address – to bring the Philippines to the level of growth that benefits more people, according to New York-based think tank Global Source.
