Although there were many attacks on the alleged drug war killings linked to President Duterte with the raging wrath from the humanitarian groups threatening to take the current administration down, an ASEAN study revealed that the Philippines is actually the “top economic performer” in terms of economic performance in Asia.
Though there were recent terrorist attacks along with the consistent drug killings, the country was not painted in a bad light in the map, so businessmen around the world are still keeping an open heart to investments. So far, there were no drastic pull outs from many foreign brands in the country resulting in inclusive and sustainable economic growth.
The country was concluded to be the top economic performer in the study from the ASEAN +3 Macroeconomic Research Office (AMRO). According to AMRO chief economist Hoe Ee Khor, in a briefing on the report, the Philippine is “very attractive” to the investors, and the current political administration does not impose any threats for the economy to grow.
Still there were threats with this economic growth in our country, according to the report, that include trade protectionism, heightened financial volatility and tightening global financial conditions, and inflation. Especially now that the current US President Donald Trump was threatening to remove all business outsourcing processes (BPO) in the Philippines and bring back American jobs to their own country, considering that BPOs are part of the economic sustainability of the Philippines.
But according to Khor, there were still no moves coming from Donald Trump, and that there isn’t much threat to this.
With this good news coming from a reliable report, we could see that we are growing as a country, gradually but positively improving. With investors coming in, there will be more jobs generated, and the local tourism will boom even more. Every sector in our economy is connected to each other, and this gives up hope that the country’s future is traveling in a good path.
Featured image from Live in the Philippines