The Philippine Government projects that the country's Gross Domestic Product (GDP) will grow by 5 to 6% this year despite uncertainties in the global economy.  Some economic analysts are projecting lower growth.

GDP growth in 2011 should be about 4.5 to 5.5%, slightly below last year's targets, well below the 7 to 8% growth projected by the government last year.  Final figures for 2011 will be released by the end of this month.

The government intends to meet the 5 to 6% target for 2012 with increased government spending and the full implementation of the Aquino Administration's public-private partnership (PPP) program.  The government is also counting on sound macro-economic fundamentals in the Philippines playing a major role in helping the country survive the global economic slowdown and the debt crisis in Europe._

The World Bank has cautioned that higher GDP growth in 2012 will require an improvement in exports, acceleration of public-private partnership projects and private sector investment, and a full recovery of public spending.



 


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