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Due to this, Nomura executive director Euben Paracuelles said that the economy will be expected “to settle at an average of 6.5 percent for the full year to become one of the fastest growing in Asia.”
This growth, Paracuelles said, is not just the result of election spending, but improves because of contributions by spending investments. However, he also stated that the new administration plays a huge part in sustaining this growth. Still, they are optimistic that President Duterte’s policy approach is practical and would surely encourage more progress rather than reverse it.
Another economist--vice president Rizki Fajar of RHB Securities Indonesia, has also said that the Philippines “remains on track to sustain its growth trajectory in 2016…” Due to this, the country might grow by 6% this year compared to 2015’s 5.8%. This will certainly cement the country a bright spot in Southeast Asia.
Thankfully, fiscal spending would be increased this year, said Predient Rodrigo Duterte, with a particular focus on infrastructure projects.