PH may grow faster than China
The Philippines can grow faster than China in the coming years, a top official of British bank Standard Chartered said Thursday.
Standard Chartered global macro research head Marios Maratheftis said the economy might expand 8 percent or faster annually beyond 2015, if current policies of the present administration, healthy fundamentals and strong business confidence were sustained.
“There is no reason for the Philippines not to grow faster than China,” Maratheftis said.
“Policy, fundamentals and confidence would be the three key drivers of growth. Policies are moving in the right direction, especially on public-private partnership projects, fundamentals are also very healthy and confidence is high. These three are well aligned for the Philippines,” Maratheftis said.
A Standard Chartered’s recent business confidence survey showed the Philippines obtained the highest score in 2013, with the United Arab Emirates getting the second highest result.
“Generally, there is more confidence from the corporate sector. If this level of confidence can be translated into actions, the Philippines can attract more foreign direct investments,” Maratheftis said.
Maratheftis said within the Asean region, their top picks were the Philippines and Indonesia. He said the Philippines was a positive story, which was just starting and had a very long way to go.
He said because of the country’s boundless potentials, Standard Chartered adjusted upward its 2013 growth projection for the Philippines to 7 percent from the previous 6.9 percent.
He said the country’s more exposure to the US economy than China would be a plus factor. He said while China’s economy was on a high growth recently, it was “slowing down.”
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The Philippines can grow faster than China in the coming years, a top official of British bank Standard Chartered said Thursday.
Standard Chartered global macro research head Marios Maratheftis said the economy might expand 8 percent or faster annually beyond 2015, if current policies of the present administration, healthy fundamentals and strong business confidence were sustained.
“There is no reason for the Philippines not to grow faster than China,” Maratheftis said.
“Policy, fundamentals and confidence would be the three key drivers of growth. Policies are moving in the right direction, especially on public-private partnership projects, fundamentals are also very healthy and confidence is high. These three are well aligned for the Philippines,” Maratheftis said.
A Standard Chartered’s recent business confidence survey showed the Philippines obtained the highest score in 2013, with the United Arab Emirates getting the second highest result.
“Generally, there is more confidence from the corporate sector. If this level of confidence can be translated into actions, the Philippines can attract more foreign direct investments,” Maratheftis said.
Maratheftis said within the Asean region, their top picks were the Philippines and Indonesia. He said the Philippines was a positive story, which was just starting and had a very long way to go.
He said because of the country’s boundless potentials, Standard Chartered adjusted upward its 2013 growth projection for the Philippines to 7 percent from the previous 6.9 percent.
He said the country’s more exposure to the US economy than China would be a plus factor. He said while China’s economy was on a high growth recently, it was “slowing down.”
http://
Shiro
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