The GDP continues to raise in the Philippines. It was released on Tuesday that Standard Chartered Bank raised the 2016 forecast to 6.8 percent from the original forecast of 6.4 percent. The same trend applies to 2017, as the GDP forecast raised from 6 percent to 6.7 percent.
It seems that President Rodrigo Duterte is successfully filling his promise to increase growth in the Philippines by liberalizing the economy. In the second quarter, the GDP also grew faster than expected at 7 percent which created an average growth of 6.9 percent in the first six months of the year.
The government’s overall goal is to create a 6 percent to 7 percent growth target for this year.
