Thursday, November 13, 2014

OECD forecast: PH to lead growth rate in SE Asia


In this photo taken Oct. 9, 2014, workers are working on one of about a hundred projects to control flooding in Metro Manila. The Philippines has the most favorable growth rate in Southeast Asia in the next five years, the Organization for Economic Cooperation and Development said. AFP PHOTO/Jay DIRECTO

In this photo taken Oct. 9, 2014, workers are working on one of about a hundred projects to control flooding in Metro Manila. The Philippines has the most favorable growth rate in Southeast Asia in the next five years, the Organization for Economic Cooperation and Development said. AFP PHOTO/Jay DIRECTO



MANILA, Philippines–The Philippines has the most favorable growth rate in Southeast Asia in the next five years, the Organization for Economic Cooperation and Development (OECD) said.


The 2015 edition of the OECD Economic Outlook for Southeast Asia, China and India, which gave a rosy forecast of the Philippines, was issued during the three-day Asean Trade and Investment Summit at Nyapyitaw, Burma, the Department of Foreign Affairs (DFA) said in a statement.


“This is the first time since the Outlook was first published in 2010 that the Philippines has the best growth forecast among the Asean-5 countries,” the DFA said.


According to the forecast, the Asean-5 economies—Indonesia, Malaysia, the Philippines, Thailand and Vietnam—will “sustain their growth momentum in the medium term” from 2015 to 2019.


The growth in the region will be “led by the Philippines and Indonesia,” said OECD, an economic organization of 34 countries based in Paris.


The growth momentum for the 10 member countries of the Association of Southeast Asian Nations (Asean) remains “robust” and is expected to average at 5.6 percent in the next five years, the group said.


“Among the Asean-5 countries, the Philippines has the best growth perspective with an average growth forecast of 6.2 percent for 2015 to 2019,” the DFA said, citing the OECD outlook.


Growth forecasts for the other Asean-5 countries are 6.0 percent for Indonesia, 5.7 percent for Vietnam, 5.6 percent for Malaysia and 4.1 percent for Thailand. The growth forecast for China is 6.8 percent.


The OECD Economic Outlook is an annual publication on Asia’s economic growth, development and regional integration process. It also deals with relevant economic issues in China and India in order to fully reflect economic developments in the region.–NiƱa P. Calleja


RELATED STORIES


IMF says brisk Philippines economic growth to continue


PH economic growth in 2014 expected to fall short of target


Sustainability of PH economic growth under scrutiny



Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.


To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.


Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:


c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94




seo tools

No comments:

Post a Comment