Main Menu
Home / CIO / Outsourcing / Philippines Growth Forecast Highest Among ASEAN Members

Philippines Growth Forecast Highest Among ASEAN Members

As the Philippines economy continues to expand next year, the growth outlook has been lowered due to reduced government spending, higher inflation, and monetary tightening. The Philippine Star explains that the country’s gross domestic product (GDP) has been forecast to 6.2 percent this year instead of its previously forecast percentage of 6.4 percent, and the economy is seen to grow 6.4 percent instead of its previous prediction of 6.7 percent.

For the first half of 2014, the economy increased by six percent due to export recovery and private consumption and investment expansion. Richard Bolt, ADB country director for the Philippines says, “Consumption and investment remain strong, and exports are recovering…Accelerating infrastructure projects, taking measures to strengthen competition, and increasing access to finance can boost growth and create jobs.” But despite strong GDP growth of around 6.3 percent every year since 2010, jobs are not at a satisfactory generation rate.

Reports note that, other than Malaysia, “aggregate growth is moderating in 2014, slowed by stabilization policy and weaker commodity export prices in Indonesia, political disruption in Thailand, a government spending slowdown in the Philippines, and soft domestic demand in Vietnam.”

You can read the full article here:

About Richard Wood

Richard Wood has been the publisher of CAI's Accelerating IT Success newsletter since its inception in 2011. A Marketing Major at Cal Poly Pomona he has been working with Computer Aid since 2001. He can be reached at

Check Also

CIOs Give Managed IT Services High Marks

The verdict is in, and it is positive. About 90 percent of organizations are satisfied …

Leave a Reply

Your email address will not be published. Required fields are marked *

Sorry, but this content
is for our subscribers only!

But subscribing to ACCELERATING IT SUCCESS is FREE and only one click away!
Join more than 40,000 IT Professionals and get the best IT management articles to your mailbox with Accelerating IT Success!

Unsubscribe at any time