The World Bank forecast that the Philippine economy to grow by 6.4 percent this year and 6.2 percent in the next two years.
The World Bank expressed confidence that the Philippine economy will continue to grow and may surpass the growth rate of other countries in the Asia region.
This is despite of the alarm earlier expressed by some investors to the government led by President Rodrigo Duterte because of the “bad mouth” of the chief executive.
In fact, according to the World Bank, the Philippine economy may surpass the growth rate recorded by the country in the earlier periods shall the planned infrastructure program be implemented.
Based on the latest record of the Washington-based multilateral lender, the Philippine economy is expected to grow by 6.4 percent this year and 6.2 percent in the next two years, which is within the 6.0 to 7.0 percent growth outlook of the government.
“The Philippine economy may surpass the forecasts if authorities can further ramp up spending on public spending on public infrastructure as planned”, the World Bank said.