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Challenges and Opportunities for
According to the Philippine Statistics Authority, the 7% GDP growth for Q2 was most impressive, a pace that hasn’t been recorded since 2013. This excellent growth exceeded most predictions that the economy would only grow by 6.6.-6.8%.
However, Socioeconomic Planning Secretary Ernesto Pernia said that this growth may slow down for the remaining part of the year, citing government spending might have been the main contributor to the boost. Due to this, a high investment rate remains a huge challenge for the country -- especially if this growth is expected to be sustained for the rest of the term and the rest of the years to come.
One thing’s for sure, it’s worth investing in the Philippines, and though Pernia states that the growth may slow down for Q3-Q4, the business process outsourcing sector has been doing a great job in sustaining the country’s economy for the past few years in terms of GDP contribution.