MANILA — The World Bank on Thursday said that it sees the country’s economic growth to hold steady until 2017.
This is following the growing working-age population and the continuous interest of the country’s trading partners.
In its Global Economic Prospects report, the World Bank noted how the country was able to recover from its weak economic performance in the first quarter because of its improving relations with its major trading partners including the United States and Japan.
The Washington-based multi-lateral lender sees the Philippines to continue leading in Southeast Asia’s markets in terms of growth in gross domestic product (GDP).
“Growth in the Philippines is projected to remain strong, benefiting from a recovery in Japan and from low fuel prices,” the Bank said.
The World Bank also added that the robust inflows of remittances and capital and accommodation monetary policies contributed in the country’s growth last year.
For this year, the World Bank remains firm that the country will reach the original forecast they made in January.
Growth is seen to reach 6.5 percent for all of this year, which is better than last year’s 6.1 percent.