Slower Economic Growth for PH Seen
After beating expectations last year with a growth rate of 7.2 percent, the Philippine economy is seen to grow at a slower pace this year but infrastructure projects under the public-private partnership (PPP) framework are seen perking up growth back to more than 7 percent in 2015. American banking giant Citigroup sees the Philippines posting a slower gross domestic product (GDP) growth of 6.8 percent this year but sees growth hitting 7.3 percent next year with big PPP projects such as the Mactan-Cebu International Airport rehabilitation project.
HSBC, on the other hand, expects the effects of Super Typhoon “Yolanda” and weaker local demand to slow Philippine growth this 2014 to 5.9 percent.
Source: Philippine Daily Inquirer