MANILA, Philippines – Amid expectations of sustained, long-term “dynamic” growth, the Philippine economy is poised to double by 2026 en route to a gross domestic product (GDP) worth $1 trillion by 2032, research firm IHS Markit said.
In a report titled “Philippines Tiger Economy Still Set for Dynamic Growth,” IHS Markit Asia-Pacific chief economist Rajiv Biswas also said that three years from now, the country will reach the upper middle-income status as robust economic growth trickles down to household incomes.
“With the Philippines having clocked up a record trade deficit of $41.4 billion in 2018, a key priority will be to make the Philippines more competitive as an investment hub for multinationals, in order to boost exports of...
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