Philippine economy will maintain growth – central bank

Philippine economy will maintain growth – central bank

The Philippine economy is poised to keep growing in the coming years, said Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo. Potential output growth has been rising at an average of 6% per annum for the period 2010 to 2017, according to Guinigundo, and structural reforms have helped sustain the economy with an impressive streak of 79 consecutive quarters of uninterrupted growth since 1999. To manage the economy and steer the country’s development, it is imperative to balance between strategic engagement and strategic retreat, he said. Poverty reduction and labor expansion should be prioritized to help achieve inclusive growth, but it must be done with both political and economic reforms, not just through providing hand-outs, he said.

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