Philippines: Economy grows 6.1 percent in 2014
The Philippines’ Gross Domestic Product (GDP) hit 6.9 percent during the
fourth quarter of 2014 compared to 6.3 percent in the same period of
2013, according to official statistics announced on January 29.
The Philippines’ Gross Domestic Product (GDP) hit 6.9 percent during the
fourth quarter of 2014 compared to 6.3 percent in the same period of
2013, according to official statistics announced on January 29.
The fourth quarter’s growth appears to be broad-base as all three major productive sectors have shown positive and robust growth, according to Arsenio Balisacan, head of the National Economic and Development Authority.
It fueled growth of 6.1 percent for the whole year, which was below the government’s goal of 6.5-7.5 percent but higher than the previous forecast of the World Bank (WB) and International Monetary Fund (IMF).
On a full-year basis, the Philippines posted the second fastest growth in Asia, after China with 7.4 percent.
With this upbeat yearend performance, the economy is anticipated to gain further traction in 2015, he added.
Analysts forecast that the country’s economy will grow sharply in 2015 due to benefits gained from the falling oil prices while the central bank will hold low interest rate until the fourth quarter of 2015.
The Philippine government has set a 7-8 percent growth goal for 2015.-VNA
The fourth quarter’s growth appears to be broad-base as all three major productive sectors have shown positive and robust growth, according to Arsenio Balisacan, head of the National Economic and Development Authority.
It fueled growth of 6.1 percent for the whole year, which was below the government’s goal of 6.5-7.5 percent but higher than the previous forecast of the World Bank (WB) and International Monetary Fund (IMF).
On a full-year basis, the Philippines posted the second fastest growth in Asia, after China with 7.4 percent.
With this upbeat yearend performance, the economy is anticipated to gain further traction in 2015, he added.
Analysts forecast that the country’s economy will grow sharply in 2015 due to benefits gained from the falling oil prices while the central bank will hold low interest rate until the fourth quarter of 2015.
The Philippine government has set a 7-8 percent growth goal for 2015.-VNA
You should also see
PM urges village elders, citizens to help preserve cultural heritage
Prime Minister Pham Minh Chinh has asked village elders and chiefs, skilled artisans and reputable citizens to make greater efforts to preserve and promote tangible and intangible cultural heritage, which is the quintessence and core value of the nation.
See more
ASEAN
Forum boosts economic ties among ASEAN, emerging economies, Russia
An economic cooperation forum on fostering ties between ASEAN and emerging economies, and Russia convened in Hanoi on April 12.
Culture - Sports
ASEAN Graphic Arts Competition and Exhibition 2024 to promote friendship
The Department of Fine Arts, Photography and Exhibition under the Ministry of Culture, Sports and Tourism will collaborate with relevant agencies to organise the ASEAN Graphic Arts Competition and Exhibition 2024.
ASEAN
Malaysia issues heatwave alert for 14 areas
The Malaysian Meteorological Department (MetMalaysia) has issued hot weather warnings for 14 areas across the country, particularly in the states of Perlis, Kedah, Kelantan, Sarawak and Sabah.
World
China, Thailand forge alliance for moon exploration
China and Thailand have inked preliminary agreements to collaborate on the peaceful exploration and use of space, as well as on the development of international lunar research stations.
World
MICHELIN Guide Thailand expands to Chon Buri
The Tourism Authority of Thailand (TAT) has announced an exciting expansion for the MICHELIN Guide Thailand 2025, which will now include Chon Buri province.
