Repost from PHILSTAR by Ted Torres | August 30, 2013
The Philippines is no longer the sick man of Asia but is a fast growing economy, matching even that of China and even besting the former best performer in Asia.
PHL posted a 7.5% growth from April to June, besting the forecast of 7.2% and matching China's peformance. PHL seems to be shifting its growth from being consumption driven to investment driven.
The PHL surpassed the growth rate of other ASEAN neighbors who did:
Indonesia: 5.8%
Vietnam: 5%
Malaysia 4.3%
Singapore: 3.8%
Thailand 2.8%
Others:
Hong Kong - 3.3%
Japan - 2.6%
Chinese Taipei 2.5%
South Korea 2.3%
Congratulations Team Philippines. Mabuhay!
The world is round. Finally we made to the top at least in South East Asia, and even beating the best of the best before
