Ph economy to zoom past peers

By Randell Tiongson on April 2nd, 2015

We have been reading a lot of positive news about the Philippine economy. Despite the cynicism of many, our economy continues to grow and has been attracting a lot of deserved attention. For 2015, we are poised to continue to grow and not only are we expected to perform well, we are expected to outperform our peers.

In a recent article by the Business World, it stated the we are to outpace our peers. Click HERE to read the article.

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Bloomberg, a leading finance media also reported that the Philippines is expected to place 2nd in terms of economic growth, just below the economic behemoth China. To read Bloomberg’s article, click HERE

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Despite the bullishness, the Philippine economy is not without any threats:

  • Poverty and high un/underemployment
  • Rising inflation
  • Power deficits
  • Natural disasters
  • Logistic problems – port congestion, truck bans, etc.
  • ASEAN – more competition from foreign companies (for market share and skilled labor and professionals)
  • Political uncertainties (going into 2016 elections); continuation of economic and governance reforms

However, the economic threats are shadowed by opportunities:

  • Transiting to higher levels of economic growth
  • Sectoral and regional growth drivers)
  • Increasing GDP per capita
  • Peace dividends – expanded markets in Mindanao
  • ASEAN integration – larger market for expansion and FDI attraction
  • ASEAN – lower import prices for inputs
  • Demographic Sweet Spot (majority of population now in the working/productive age)

I grew up always hearing that there is little hope for the Philippine economy, that we are buried in debt and that we are the ‘sick man of Asia’. Today’s ‘millennial’ generation are hearing another story and I pray that they will pass on the nation to their next generation in an even better shape.

Let us continue to honor the Lord for what He has been doing to our nation…

“Blessed is the nation whose God is the LORD, the people he chose for his inheritance.” — Psalm 33:12, NIV

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3 thoughts on “Ph economy to zoom past peers”

  • I think there is a big possibility of edging China as number 1 taking consideration huge infrastructure project on the line that will boost spending, outpouring of foreign investments making as top priority rather than China, bigger working and productive population, increasing OFW remittances , less calamities as well as sound economic policy in place. God bless the Philippines!

  • While we are elated by this, let us remember that 1. Our GDP is small compared to our ASEAN neighbors. Therefore, small denominator equals high increases.
    2. Our population wears us down. Put in per capita data and we are way out of there. 3. Tell this to our marginalized people, and they will say, “Kainin mo ang GDP mo”.
    I think in order to make it real and long lasting, we have to educate our people to 1. respect the ballot and elect better officials 2. don’t rely on the government because we can’t do number 1. and then, 3. Tell our graduates to stop being employees. Don’t be in a job. Create more jobs. 4. Tell our entrepreneurs to invest in innovative projects. Don’t keep your money in banks and money market. Invest in research. Invest in the future.

    Else, our GDP rate will stop rising and we will be disillusioned. Long term. Big picture. that is what we need.

  • uhh..
    i think we can outdo their performance but not their economies.
    Say ours is a $40B economy and China’s is a whopping $9T.

    Even if our performance is 100x better than China’s, there is no way that we will beat them. Same with S. Korea, India, Malaysia, Indonesia, and other G20 countries.\

    I think that instead of trying to compare our economy with other countries’ economies, we should compare the economies of our regions. My call is more country-side investment and rural development.

    We cannot really compare ourselves to other counties especially to some of our more progressive Asian neighbors. Th

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Ph economy to zoom past peers