World Economy

Philippines Outlook Upgraded

Philippines Outlook UpgradedPhilippines Outlook Upgraded

The World Bank has upgraded its outlook on the Philippines over the next two years as the country’s economy emerged as one of Asia’s fastest growing, AsiaFirst reported. The World Bank now expects the Philippines to expand 6.8% this year, up from a previous estimate of 6.4%. Growth is then expected to pick up to 6.9% in 2017 and 7% in 2018, the World Bank said. In Q3 of this year, the Philippine GDP expanded 7.1% year-over-year, well above the median estimate of 6.7%, easily making it the region’s fastest growing. Manila’s target for this year is 6% to 7%.

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