The growth outlook for the Philippines in the near term remains strong on the back of stable economic, fiscal and monetary policies; favorable demographics; an ambitious infrastructure program and comprehensive tax reform, according to global ratings agency, S&P Global Ratings. In a webcast, S&P Asia Pacific Economist Vincent Conti said GDP growth of 6.5% and above for the next few years is “very easily achievable” for the country. The Philippines government targets a faster 7% to 8% yearly growth rate in the medium term after the economy expanded by 6.7% last year, among the highest gross domestic product growth rates in the Asian region. Conti added that the government’s economic policy seems to be very stable and is expected to have continuity. In April, S&P raised its credit rating outlook for the Philippines to ‘positive’, citing improved fiscal management following the passage of the first tax reform package.
Join the world's premier outsourcing community
Get the world's leading outsourcing news summary, Inside Outsourcing, delivered to your inbox each week, for free. Plus, benefit from being a part of the fastest growing outsourcing community.
- Breaking news: daily web updates with outsourcing sector updates
- Newshub: Browse over 4,000 outsourcing industry news items
- Access: get outsourcing white papers, guides, articles, videos and podcast episodes
- BPO community: join our extensive outsourcing community
- Cancel anytime: zero obligation, no spam, just great information