News Content
Philippines GDP up 6.9pc in first quarter after 6.5pc rise last year
THE Philippines gross domestic product (GDP) increased 6.9 per cent in the first quarter, the highest in three years, in a spurt attributed to spending ahead of the May elections, reports Bloomberg.
This outcome was in line with the median estimate in a Bloomberg survey of 16 analysts, and compared with expansion of 6.5 per cent in the previous quarter.
Incoming President Rodrigo Duterte has pledged to retain the economic priorities of the outgoing administration of Benigno Aquino, policies that led to the nation's first investment-grade ratings and its best period of growth since the 1970s.
Mr Duterte "will be handed an economy that is in very good health," said Daniel Martin, a senior Asia economist at Capital Economics Ltd in Singapore.
"A sudden shift in policy or a disruption of the political stability that has characterised the last six years could cause sentiment to sour and growth to weaken," he said.
This outcome was in line with the median estimate in a Bloomberg survey of 16 analysts, and compared with expansion of 6.5 per cent in the previous quarter.
Incoming President Rodrigo Duterte has pledged to retain the economic priorities of the outgoing administration of Benigno Aquino, policies that led to the nation's first investment-grade ratings and its best period of growth since the 1970s.
Mr Duterte "will be handed an economy that is in very good health," said Daniel Martin, a senior Asia economist at Capital Economics Ltd in Singapore.
"A sudden shift in policy or a disruption of the political stability that has characterised the last six years could cause sentiment to sour and growth to weaken," he said.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
