February 1, 2015

Philippines Economy Hit 6.1% in 2014

Philippines Economy in 2014

Philippines economy grew by 6.9% in fourth quarter (Q4) of 2014; full year growth hit 6.1%.

Overall economic performance of the Philippines is still considered excellent, yet full potential was not realized. The issues related to delays on government projects coupled with corruption issues, port congestion, energy cost, and global growth slowdown affecting overseas Filipino workers – significantly drag the growth trend. Issues on food prices also affected the consumption which has significant impact on growth as well.

Philippine Economist's Q4 and full year 2014 forecast is 6.82% and 6.03% respectively.

See the following article for previous forecast reference:

· Philippines Q3 2014 GDP Growth Lower than Expected

· Quarterly Forecast: Philippines Economy in 2014

Philippines economy in 2015 is seen to continue its growth momentum which is expected to hit 7% level.

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