Philippines outperforms ASEAN neighbors

“The economies of the Philippines and Vietnam are expected to grow by 6.1 percent.”

For the second time around, the Philippines is expected to have the fastest growth, compared to the five major economies of the ASEAN in 2017.

Photo from metrocebu.com.ph

The presentation of the annual Organization for Economic Cooperation and Development (OECD) Economic Outlook for Southeast Asia, China, and India was done by Philippine Ambassador to France Ma. Theresa Lazaro during the ASEAN Business and Investment Summit in Laos.


According to Lazaro, Philippines and Vietnam got the best growth forecast for the following year, among the other ASEAN-5 countries: Indonesia, Malaysia, and Vietnam.

The OECD Economic Outlook is done annually and it primarily focuses on the economic atmosphere of ASEAN-member countries. “Steady economic growth is expected ot continue in the region in 2017,” Lazaro added.

The Philippines will remain to be the co-chair of the Economic Outlook until 2018, which coincides with the chairmanship of the ASEAN summits in 2017. ASCS

Source: Philstar

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