Philippines' economic growth may surpass China's this year: Pernia

ABS-CBN News

Posted at Apr 13 2018 05:31 PM

MANILA – Socioeconomic Planning Secretary Ernesto Pernia on Friday said the country’s economic growth this year could surpass China's 6.9 percent growth in 2017 and the World Bank’s forecast of 6.7 percent.

Gross Domestic Product (GDP) could grow between 7 and 8 percent during the "Goldilocks period" of the Philippine economy, Pernia said at the Philippine Economic Briefing held in Pampanga.

"The Philippines was next only to China's growth in 2017. We are expected to do better than China this 2018, next only to India," Pernia said.

He said this is achievable with the help of ongoing major infrastructure projects.

Policy reforms such as improving the ease of doing business, implementing the National ID system, and enhancing the country’s social infrastructure and human capital investments could help sustain economic growth, Pernia said.

-- with reports from Michelle Ong