by: Sarah Joson
Friday, December 20, 2013 | Outsourcing News |
The target GDP growth rate of the government for next year is 6.5-7.5 percent.
Meanwhile, UNESCAP noted that the stable flow of remittances from overseas Filipino workers will also reinforce the Philippine economy as long as the outlook for receiving countries remain stable and issues and challenges are addressed immediately.
However, for 2014, China is anticipated to grow 7.3 percent while the Philippines is seen to grow 6.7 percent.
In terms of inflation, UNESCAP said the Philippines’ consumer prices will only increase at an average rate of three percent for 2013, and 3.9 percent next year even with the robust performance of the economy. However, the projections are still within the 3-5 percent target range set by Central Bank for 2013-2014.
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