Eight Per Cent Growth Possible
Against many odds, the Gross Domestic Product (GDP) of the Philippines grew by 7.2 per cent in 2013. I would not be surprised if in the usual review of preliminary estimates, such a figure would be adjusted upward to, say 7.5 per cent, enabling the Philippines to breathe down the neck of the Chinese in economic growth. In any case, with the exception of China, the Philippines was the fastest growing economy in Asia in 2013. Considering the major sources of growth last year, I am confident that in this Year of the Wooden Horse our economy can grow even faster at 8 per cent, finally outperforming the Asian Dragon to our north.