Expectations among analysts and economists are high: The Philippine economy will cough up another stellar performance this year. But with cautionary ifs and buts.
For example, increased spending in healthcare, education and social programs as well as opening the Philippines to foreign investors are needed to sustain growth momentum in the long-run.
“The Philippines could become the better—if not the best—stories in the next 12 months,” Matt Hildebrandt, J.P. Morgan Bank chief Philippine economist and head of Asia sovereign credit strategy, said during a panel briefing at the Euromoney Conferences Philippines Investment Forum.
Credit Suisse Asset Management chief investment officer for Asia Pacific Lena Teoh said the country is “at the crest of momentum.”