Philippines’ Dutertenomics now ahead of China



The Philippine economy finally pursued a 6.9% growth in the 3rd quarter of 2017 slightly on top compared to China’s 6.8% increase in the same quarter signifying an annual growth rate of 3.72% from where the Philippines has left off from the 12.40% highest record in 1988.
Despite negative remarks amidst President Duterte’s alleged human rights violations, the economy is clearly getting on top of the world stage.

This is backed by a stable macroeconomic environment, revised tax reforms, market expansions, rapid infrastructure spending, and a renewed vigor in the global economy.




Just, WOW! While growth gets faster, it is likely to get even better as trade debts has decreased to US$ 1.91 as recorded in September 2017 from the US$ 2.02 Billion debt in the same month the previous year.
Meanwhile, China’s Debt-to-GDP ratio climbed while that similar equivalent to the Philippines has plummeted.

Duterte’s economic advisors have literally lived up to the challenge about re-opening to the world economy. While this is a very good opportunity that would benefit majority of the Filipino people, even the poor ones, alike, the Philippines is a developing country and still has a long way to go to get passed the ‘progressive’ stage.




And yet, the recent economic improvement is something for the administration to be proud of. Not to mention, the Philippines advanced as the World’s 10th Fastest growing Economy by the end of 2017, according to World Bank.

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Source:  forbes.com

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