While the Philippines will continue to post faster economic growth for 2018 to 2022, the country’s relatively high internet prices and slow internet speeds will pose a challenge. Organization for Economic Cooperation and Development (OECD) expects the Philippines to post faster growth in the next five years although the government must address the existing infrastructure gap to fast-track economic development. The OECD projected an average growth from 2018 to 2022 to reach 6.4%, about 50 basis points higher than the average of 5.9% from 2011 to 2015. It said slow internet speeds and challenges in online payments affect e-commerce and the digital economy more generally in the Philippines. It also recommended more foreign direct investments in ICT.
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