Strong BPO continues to be one of economy’s drivers – Esguerra

The country’s robust business process outsourcing (BPO) industry will continue to be one of the country’s sources of economic growth this year, according to Socioeconomic Planning Secretary Emmanuel F. Esguerra. The secretary made the comment following a report released by the Asian Development Bank (ADB) that said the Philippine economy will grow faster than regional averages in the next two years. Esguerra said the Philippines has a lot of drivers that can be a source of growth to compensate for the slowdown in the global economy. Among these are the robust BPO industry, the number of infrastructure projects planned and the continued remittances from overseas Filipino workers. The ADB expects the Philippine economy to grow by 6% this year and 6.1% in 2017, an increase from last year’s 5.8%.