{"id":40437,"date":"2015-01-30T14:59:35","date_gmt":"2015-01-30T06:59:35","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=40437"},"modified":"2015-01-30T14:59:35","modified_gmt":"2015-01-30T06:59:35","slug":"ph-no-longer-the-sickman-of-asia","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/01\/30\/ph-no-longer-the-sickman-of-asia\/","title":{"rendered":"PH no longer the ‘sickman of Asia’"},"content":{"rendered":"
\"shutterstock_157841786\"<\/a>
Shutterstock Photo<\/figcaption><\/figure>\n

MANILA — The country’s chief economist on Thursday declared that the Philippines is no longer the “sick man of Asia” following an economic growth which reached 6.1 percent last year.<\/p>\n

Socioeconomic Planning Secretary Arsenio Balisacan highlighted the country’s economic performance to back his claim that the Philippines is “the sick man of Asia” no more.<\/p>\n

\u201cOverall, the Philippine economy\u2019s performance in 2014 and the preceding years starting in 2010 shows how our country can no longer be called the \u2018sick man\u2019 of Asia,\u201d he said.<\/p>\n

\u201cOur economic growth is becoming more competitive with our East and Southeast Asian neighbors. We have avoided the dreaded boom-and-bust cycle that has hounded our economy for decades,\u201d said Balisacan, also director general of the National Economic and Development Authority (Neda).<\/p>\n

The 2014 data marks the second year that the Philippines posted the fastest rate in terms of economic growth next to China.<\/p>\n

Balisacan added in his presentation at the 5th Ayala-UP School of Economics Economic Forum that the 6.3 percent growth rate of the country in 2010-2014 marked the highest five-year average in the past 40 years.<\/p>\n

Growing better than the 6.3 percent in the same period last 2013, the country’s economic rate increased to 6.9 percent in the fourth quarter of 2014.<\/p>\n

The country’s Gross Domestic Product (GDP) expansion in the fourth quarter was the third highest recorded rate in the region next to China with 7.3 percent and Vietnam with 7 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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