‘PHL economy not overheating’
According to Bangko Sentral ng Pilipinas (BSP) deputy governor Diwa Guinigundo the Philippine economy is far from overheating, with continually-strong growth expected in the coming years. He said since 1999 reforms have helped propel the economy to an impressive streak of 79 consecutive quarters of uninterrupted growth. At the Pilipinas Conference organized by independent think tank Stratbase ADR Institute in Makati City, Guinigundo said the structural reforms have also translated into higher potential output for the economy. From 2010 to 2017, growth rose to an average of 6%. He said the economy is not running too hot as the output gap is either a small positive or a small negative. To manage the economy and to steer the country’s development, Stratbase President Dindo Manhit said it’s vital to balance strategic engagement and strategic retreat.
