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IMF: PH 2nd only to India in GDP growth

IMF: PH 2nd only to India in GDP growth

In a report on the eve of meetings among the 189-nation IMF, the World Bank, and the Group of 20 major economies in Washington, DC, the IMF said it expects the Philippines’ Gross Domestic Product (GDP) to expand by 6.7 percent this year 2018, up from 6.7 percent in 2017.

Underemployment dropped to 15.9 percent – from 18 percent last year. Underemployment refers to those who are already employed but would like to have additional work or hours of work, so as to have additional income.

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IN a survey conducted by the Social Weather Stations (SWS) last September 23-27, 47 percent of the respondents said they consider their families poor. It was three points higher than the 44 percent in the previous survey in June. The 47 percent who deemed their families poor in September were described by SWS as 10.9 million families – 800,000 more families than in June.

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It was my greatest honor to welcome New Zealand Prime Minister Jacinda Ardern last Nov. 12 who flew to the Philippines to attend the 2017 ASEAN Summit.

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THE Philippines’ Gross Domestic Product (GDP) expanded by 6.9 percent in the third quarter (July-August-September) of this year, second only to Vietnam’s 7.5 percent, and better than China’s 6.8 percent and Indonesia’s 5.1 percent.

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All throughout this week, the foreign ministers of the ten Association of Southeast Asian Nations (ASEAN) countries – Indonesia, Malaysia, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar, Vietnam , and the Philippines – will be meeting in Manila on a host of regional and international issues.

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