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.

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Source: Philippine Daily Inquirer

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