S&P: 6.5 percent growth “easily achievable”

Posted on Tue, 07/10/2018 - 18:05
S&P: 6.5 percent growth “easily achievable”

According to S&P Global Ratings economist for Asia-Pacific, Vincent Conti, the country’s growth has been exceptional in the past two years. The projected 6.5 percent growth is “easily achievable”, said Conti in a recent report last July 4. The nation’s favorable demographic trends that benefit the country is one of the reasons why this was possible.

Kim Eng Tan, S&P’s Asia-Pacific senior director also added that the positive outlook for the economy is strong because of the confidence that direct investors have in the Philippines’ policy framework. This is due to the recently implemented tax reform laws.

For instance, another win for the economy is Asian Terminals Inc.’s all-time-high record of handling over 560,000 20ft equivalent units (TEUs) of foreign containerized shipment this year. They are citing the country’s growing economy as the reason for its shipment boost. In fact, ATI is spending a minimum of P8 billion in capital expenditures to increase the capacity and efficiency of its ports.