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Showing posts with label World Bank. Show all posts
Showing posts with label World Bank. Show all posts

Wednesday, May 23, 2018

OFWs Must Save, Get Insurance And Have An Investment

According to the estimate of the Commission on Filipinos Overseas, there are around 10.2 million overseas Filipino workers (OFWs) deployed around the world. This number comprises roughly 10 percent of total population. Approximately 10 percent of GDP  comes from the remittances that OFWs send according to the World Bank. Having a clear financial goal is very important for every OFW. Achievement of this goal could be a determining factor for their success. Thus, every OFW must have a feasible plan. In this regard, the plan can have three key steps— savings, insurance, and investment.
After all, working abroad will not be forever. Eventually, every OFW will go back home and when that time comes, they should be ready.
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According to the estimate of the Commission on Filipinos Overseas, there are around 10.2 million overseas Filipino workers (OFWs) deployed around the world. This number comprises roughly 10 percent of total population. Approximately 10 percent of GDP comes from the remittances that OFWs send according to the World Bank. Having a clear financial goal is very important for every OFW. Achievement of this goal could be a determining factor for their success. Thus, every OFW must have a feasible plan. In this regard, the plan can have three key steps— savings, insurance, and investment. After all, working abroad will not be forever. Eventually, every OFW will go back home and when that time comes, they should be ready. Advertisement Sponsored Links {EMBED VIDEO 1 HERE NOW!} Savings Saving is all about building the foundation for wealth. However, being a saver is not about being a miser. Every OFW has every right to enjoy the fruits of his or her labor. What is important, though, is to have balance in life. By developing a budget, the OFW will be able to identify priorities, review needs versus wants and, ultimately, be able to live within means. It takes two to tango in budgeting. Both the OFW and the OFW family must be committed and resilient in the implementation of the budget. Part of saving is the establishment of an emergency fund. This fund will be handy in case of job loss, job status change, adverse health conditions or key asset damage. In the case of the OFW, this fund can be equivalent to six to 12 months of the total monthly family lifestyle expenses. Maintaining a separate liquid account as an emergency fund is recommended for better management. Insurance The second step is to ensure. Ensuring is all about protecting wealth. The future is uncertain and there are many risks. Continuation of government programs like Social Security System, Pag-IBIG, and Philippine Health Insurance Corp. must be done, especially since these are very accessible in government offices and remittance centers abroad. However, the inflows generated from these government programs may not be enough. A comparison of protection needs versus protection sources will be essential in determining how much insurance cover will be needed for both human capital and valuable assets. Life insurance can help address concerns related to income replacement, illness, education, retirement, burial, debt payment and estate planning. Meanwhile, nonlife insurance can help protect valuable assets for better peace of mind. Saving and insuring are important, but are often not enough due to inflation. Wealth is measured by money growth in relation to inflation. Therefore, the third step is to invest. Investing is all about growing wealth. OFWs must save and beat temptation, but after doing so, they need to invest to beat inflation. Investing must be based on the life purpose, financial goal, time horizon and risk profile of the OFW. Investment There are a number of investment options available for OFWs. They can invest in pooled funds like mutual funds, unit investment trust funds and variable unit-linked funds. These funds have professional managers who can help grow fund values over time. For OFWs who have the knowledge and the time, they can also directly invest in the stock market. Different stocks have different strokes so they can diversify. The choice of fund or stock can be based on both current and past performance. They can invest in real estate to generate price appreciation and rental income. They can invest in businesses by either starting a business from scratch or buying an existing business. Hopefully, the business they pick has a defined target market and a resonating market position. Every OFW must have a financial goal. This should be supported by a plan anchored on saving, ensuring and investing. A plan is only as good as its execution, so milestones have to be defined and tracked. With the continuous trek to success and with a dynamic world, there is a heightened need for continuous learning on the part of the OFWs so they are well-informed and decide wisely. READ MORE: OFW Help Desks From TESDA Now Available at International Airports Signs That You And Your Partner Have An Unhealthy Communication It's More Deadly In The Philippines? Tourism Ad In New York, Vandalized Earn While Helping Your Friends Get Their Loan List of Philippine Embassies And Consulates Around The World Deployment Ban In Kuwait To Be Lifted Only If OFWs Are 100% Protected —Cayetano Why OFWs From Kuwait Afraid Of Coming Home? How to Avail Auto, Salary And Home Loan From Union Bank

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Savings
Saving could be difficult to OFWs but it needs to be done. There are OFWs who worked abroad for years but coming home broke.
Maybe they do the common mistakes OFWs make leaving them without a penny saved. 
 By developing a budget, the OFW will be able to identify priorities, review needs versus wants and, ultimately, be able to live within means. Both the OFW and the OFW family must be committed and resilient in the implementation of the budget.
Part of saving is the establishment of an emergency fund. This fund will be handy in case of job loss, job status change, adverse health conditions or key asset damage. In the case of the OFW, this fund can be equivalent to six to 12 months of the total monthly family lifestyle expenses. Maintaining a separate liquid account as an emergency fund is recommended for better management.

 Insurance
The second step is to have an insurance. It is all about protecting wealth. In this life full of risks and uncertain turn of events, the continuation of government programs like Social Security System (SSS), Pag-IBIG, and PhilHealth has to be done, especially since these are very accessible in government offices and remittance centers abroad.  Life insurance can help address concerns related to income replacement, illness, education, retirement, burial, debt payment and estate planning. Meanwhile, nonlife insurance can help protect valuable assets for better peace of mind.

Investment
There are a number of investment options available for OFWs. 
You can start a small business while you are still working abroad.
Many OFWs have found their luck in retail stores like flower shops, food cart business or even simply selling coin banks.
You can also consider investing in mutual funds, unit investment trust funds, and variable unit-linked funds. Or if you have the knowledge and the time, you can also directly invest in the stock market. You can invest in real estate to generate price appreciation and rental income. Even the government urges OFWs to invest in government projects.

It is easy to plan an investment, getting an insurance or even to start saving but it all depends on your will to faithfully commit in doing all of these. Retirement is certain and working abroad could definitely end sooner. All you got to have is the determination and will to start doing it now Or you might suffer the same fate as most of the OFWs did.

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Thursday, November 30, 2017

Philippine Investment Boom Left Neighboring Southeast Asian Countries Behind

Philippine capital investment surge is leaving its neighboring countries in Southeast Asia behind This years first nine months shows net physical assets in the Philippinesgrowth of 10.4 % from the previous year. A big leap compared with Malaysia's 6.9 % increase and Indonesia's 5.8% percent gain. Philippine government expenditures jumped 28 percent in October, the largest leap in almost a year, with new record budget planned for 2018. Private companies are also joining in: Metro Pacific Investments Corp. plans to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc. is boosting capital spending to a record $2 billion next year. President Rodrigo Duterte is building new railroads and highways across the archipelago in a $180 billion infrastructure program. The boost in investment adds another engine to the economy, paving a way for growth exceeding 6% and among the world’s best performers for six consecutive years. Sponsored Links After being left behind for decades, the Philippines is now significantly catching up and doing well. Now its growth in net physical assets is the fastest in Southeast Asia even twice faster than Malaysia according to World Bank. President Duterte is on its way to bringing the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as “Build, Build, Build”. It includes the capital’s first subway and a 653-kilometer railway to the south. Source: Bloomberg Advertisement Read More: ©2017 THOUGHTSKOTO
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Philippine capital investment surge is leaving its neighboring countries in Southeast Asia behind This years first nine months shows net physical assets in the Philippinesgrowth of 10.4 % from the previous year. A big leap compared with Malaysia's 6.9 % increase and Indonesia's 5.8% percent gain. Philippine government expenditures jumped 28 percent in October, the largest leap in almost a year, with new record budget planned for 2018. Private companies are also joining in: Metro Pacific Investments Corp. plans to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc. is boosting capital spending to a record $2 billion next year. President Rodrigo Duterte is building new railroads and highways across the archipelago in a $180 billion infrastructure program. The boost in investment adds another engine to the economy, paving a way for growth exceeding 6% and among the world’s best performers for six consecutive years. Sponsored Links After being left behind for decades, the Philippines is now significantly catching up and doing well. Now its growth in net physical assets is the fastest in Southeast Asia even twice faster than Malaysia according to World Bank. President Duterte is on its way to bringing the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as “Build, Build, Build”. It includes the capital’s first subway and a 653-kilometer railway to the south. Source: Bloomberg Advertisement Read More: ©2017 THOUGHTSKOTO
Philippine  capital investment surge is leaving its neighboring countries in Southeast Asia behind
This years first nine months shows net physical assets in the Philippines growth of  10.4 % from the previous year. A big leap compared with Malaysia's 6.9 % increase and Indonesia's 5.8% percent gain.

 Philippine government expenditures jumped 28 percent in October, the largest leap in almost a year, with new record budget planned for 2018. Private companies are also joining in: Metro Pacific Investments Corp. plans to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc. is boosting capital spending to a record $2 billion next year.

President Rodrigo Duterte is building new railroads and highways across the archipelago in a $180 billion infrastructure program. The boost in investment adds another engine to the economy, paving a way for growth exceeding 6% and among the world’s best performers for six consecutive years.Philippine capital investment surge is leaving its neighboring countries in Southeast Asia behind This years first nine months shows net physical assets in the Philippinesgrowth of 10.4 % from the previous year. A big leap compared with Malaysia's 6.9 % increase and Indonesia's 5.8% percent gain. Philippine government expenditures jumped 28 percent in October, the largest leap in almost a year, with new record budget planned for 2018. Private companies are also joining in: Metro Pacific Investments Corp. plans to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc. is boosting capital spending to a record $2 billion next year. President Rodrigo Duterte is building new railroads and highways across the archipelago in a $180 billion infrastructure program. The boost in investment adds another engine to the economy, paving a way for growth exceeding 6% and among the world’s best performers for six consecutive years. Sponsored Links After being left behind for decades, the Philippines is now significantly catching up and doing well. Now its growth in net physical assets is the fastest in Southeast Asia even twice faster than Malaysia according to World Bank. President Duterte is on its way to bringing the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as “Build, Build, Build”. It includes the capital’s first subway and a 653-kilometer railway to the south. Source: Bloomberg Advertisement Read More: ©2017 THOUGHTSKOTO
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After being left behind for decades, the Philippines is now significantly catching up and doing well. Now its growth in net physical assets is the fastest in Southeast Asia even twice faster than Malaysia according to World Bank.

 President Duterte is on its way to bringing the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as “Build, Build, Build”. It includes the capital’s first subway and a 653-kilometer railway to the south.Philippine capital investment surge is leaving its neighboring countries in Southeast Asia behind This years first nine months shows net physical assets in the Philippinesgrowth of 10.4 % from the previous year. A big leap compared with Malaysia's 6.9 % increase and Indonesia's 5.8% percent gain. Philippine government expenditures jumped 28 percent in October, the largest leap in almost a year, with new record budget planned for 2018. Private companies are also joining in: Metro Pacific Investments Corp. plans to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc. is boosting capital spending to a record $2 billion next year. President Rodrigo Duterte is building new railroads and highways across the archipelago in a $180 billion infrastructure program. The boost in investment adds another engine to the economy, paving a way for growth exceeding 6% and among the world’s best performers for six consecutive years. Sponsored Links After being left behind for decades, the Philippines is now significantly catching up and doing well. Now its growth in net physical assets is the fastest in Southeast Asia even twice faster than Malaysia according to World Bank. President Duterte is on its way to bringing the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as “Build, Build, Build”. It includes the capital’s first subway and a 653-kilometer railway to the south. Source: Bloomberg Advertisement Read More: ©2017 THOUGHTSKOTO
Source: Bloomberg 
Philippine capital investment surge is leaving its neighboring countries in Southeast Asia behind This years first nine months shows net physical assets in the Philippinesgrowth of 10.4 % from the previous year. A big leap compared with Malaysia's 6.9 % increase and Indonesia's 5.8% percent gain. Philippine government expenditures jumped 28 percent in October, the largest leap in almost a year, with new record budget planned for 2018. Private companies are also joining in: Metro Pacific Investments Corp. plans to invest as much as $16 billion through 2022 on road, water, and power projects, while Ayala Land Inc. is boosting capital spending to a record $2 billion next year. President Rodrigo Duterte is building new railroads and highways across the archipelago in a $180 billion infrastructure program. The boost in investment adds another engine to the economy, paving a way for growth exceeding 6% and among the world’s best performers for six consecutive years. Sponsored Links After being left behind for decades, the Philippines is now significantly catching up and doing well. Now its growth in net physical assets is the fastest in Southeast Asia even twice faster than Malaysia according to World Bank. President Duterte is on its way to bringing the Philippines into an upper-middle income country by the end of his term in 2022, and the cornerstone of his vision is a plan referred to as “Build, Build, Build”. It includes the capital’s first subway and a 653-kilometer railway to the south. Source: Bloomberg Advertisement Read More:

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Friday, October 13, 2017

System For Migrant Labor In The Philippines; A Model For Southeast Asia—World Bank


The World Bank lauded the Philippines’ support system for its overseas Filipino workers (OFWs) as a model for other Southeast Asian countries. It is a proof that the government is doing the right thing in pressing forward with the bold and far-sighted program that began under the government of President Ferdinand Marcos during the 1970s. Other Asean members can adopt the Philippine support system for its migrant workers, the World Bank (WB) said, as it called on easing restrictions on labor migration to boost workers’ welfare and accelerate regional economic integration. “The highly developed support system for migrant labor in the Philippines can serve as a model for other countries. The country, however, should continue its focus on improving reintegration of returning migrants,” said a World Bank report, titled “Migrating to Opportunity”, released on Monday. It cited the Philippines as a good example of migration systems with “clearly defined institutional responsibilities”. The report said several migrant-focused agencies are housed mostly within the Department of Labor and Employment (DOLE). Their roles and responsibilities are well defined, with the Philippine Overseas Employment Administration responsible mainly for managing migration and the Overseas Workers Welfare Administration responsible mainly for protecting migrants. To build on this status, the World Bank said the Philippines should continue to evaluate and improve its migration management system, including oversight of recruitment agencies, programs for returned migrants, and data sharing and interoperability. Sponsored Links The World Bank report also underscored the need to relax migration procedures across the Asean region, as migration is expected to increase with the regional economic integration. The Asean Economic Community, which was launched in 2015, aims to promote the free mobility of professionals and skilled workers within the region. The report said barriers, such as costly and lengthy recruitment processes, restrictive quotas on the number of foreign workers allowed in a country, and rigid employment policies constrain workers’ employment options and impact their welfare. “No matter where workers wish to migrate in Asean, they face mobility costs several times the annual average wage. Improvements in the migration process can ease these costs on prospective migrants, and help countries respond better to their labor market needs,” said Mauro Testaverde, World Bank economist for the Social Protection and Jobs Global Practice and the lead author of the report. The report noted the impact of labor mobility on the region’s economies can be significant, as migration could provide individuals from lower-income countries with the opportunity to increase their incomes. About $62 billion in remittances were sent to Asean countries in 2015. Remittances account for 10 percent of gross domestic product (GDP) in the Philippines, 7 percent in Vietnam, 5 percent in Myanmar, and 3 percent in Cambodia. Testaverde further said better policies can lower the barriers to labor mobility, noting some of these include improving the governance of the migration system, reforming domestic policies, and balancing protection and economic development in the migration process. Source: Business Mirror
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The World Bank lauded the Philippines’ support system for its overseas Filipino workers (OFWs) as a model for other Southeast Asian countries.

It is a proof that the government is doing the right thing in pressing forward with the bold and far-sighted program that began under the government of President Ferdinand Marcos during the 1970s.

World Bank (WB) said that other Asean member neighboring countries can adopt the Philippine support system for Overseas Filipino Workers (OFWs) ,  on easing restrictions on labor migration to boost workers’ welfare and accelerate regional economic integration.

The World Bank cited the Philippines as a model of migration systems with “clearly defined institutional responsibilities”.

The roles and responsibilities of the agencies are well defined, with the Philippine Overseas Employment Administration (POEA)  manages and regulates the deployment of migrant workers and the Overseas Workers Welfare Administration (OWWA) responsible mainly for the welfare and protection of OFWs.

However, the World Bank said the Philippines should continue to evaluate and improve its migration management system, including oversight of recruitment agencies, programs for returned migrants, and data sharing and interoperability to further build and improve this status.
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The Asean Economic Community, launched in 2015, aims to promote the free mobility of professionals and skilled workers within ASEAN but barriers, such as costly and lengthy recruitment processes, restrictive quotas on the number of foreign workers allowed in a country, and rigid employment policies hinder migrant workers’ employment opportunities and affect their chance of earning bigger.
In 2015, about $62 billion in remittances were sent to Asean countries. Remittances from OFWs comprises 10 percent of gross domestic product (GDP) in the Philippines keeping the economy afloat, much higher compared to neighboring countries in Asia like  Vietnam (7%), Myanmar (7%), and Cambodia (3%).

Testaverde also added that better policies can lower the barriers to labor mobility, noting some of these include improving the governance of the migration system, reforming domestic policies, and balancing protection and economic development in the migration process.
The World Bank lauded the Philippines’ support system for its overseas Filipino workers (OFWs) as a model for other Southeast Asian countries. It is a proof that the government is doing the right thing in pressing forward with the bold and far-sighted program that began under the government of President Ferdinand Marcos during the 1970s. Other Asean members can adopt the Philippine support system for its migrant workers, the World Bank (WB) said, as it called on easing restrictions on labor migration to boost workers’ welfare and accelerate regional economic integration. “The highly developed support system for migrant labor in the Philippines can serve as a model for other countries. The country, however, should continue its focus on improving reintegration of returning migrants,” said a World Bank report, titled “Migrating to Opportunity”, released on Monday. It cited the Philippines as a good example of migration systems with “clearly defined institutional responsibilities”. The report said several migrant-focused agencies are housed mostly within the Department of Labor and Employment (DOLE). Their roles and responsibilities are well defined, with the Philippine Overseas Employment Administration responsible mainly for managing migration and the Overseas Workers Welfare Administration responsible mainly for protecting migrants. To build on this status, the World Bank said the Philippines should continue to evaluate and improve its migration management system, including oversight of recruitment agencies, programs for returned migrants, and data sharing and interoperability. Sponsored Links The World Bank report also underscored the need to relax migration procedures across the Asean region, as migration is expected to increase with the regional economic integration. The Asean Economic Community, which was launched in 2015, aims to promote the free mobility of professionals and skilled workers within the region. The report said barriers, such as costly and lengthy recruitment processes, restrictive quotas on the number of foreign workers allowed in a country, and rigid employment policies constrain workers’ employment options and impact their welfare. “No matter where workers wish to migrate in Asean, they face mobility costs several times the annual average wage. Improvements in the migration process can ease these costs on prospective migrants, and help countries respond better to their labor market needs,” said Mauro Testaverde, World Bank economist for the Social Protection and Jobs Global Practice and the lead author of the report. The report noted the impact of labor mobility on the region’s economies can be significant, as migration could provide individuals from lower-income countries with the opportunity to increase their incomes. About $62 billion in remittances were sent to Asean countries in 2015. Remittances account for 10 percent of gross domestic product (GDP) in the Philippines, 7 percent in Vietnam, 5 percent in Myanmar, and 3 percent in Cambodia. Testaverde further said better policies can lower the barriers to labor mobility, noting some of these include improving the governance of the migration system, reforming domestic policies, and balancing protection and economic development in the migration process. Source: Business Mirror

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Saturday, October 07, 2017

The Philippines, Inconsistent On Its "No Placement Fee" Policy According to World Bank

One of many problems many Filipino facing when they decide to work abroad is the "placement fee". This is even if the rule of Philippine Overseas Employment Administration (POEA) with regards to "No Placement Fee" hasn't changed yet. Which means, No Placement Fee for hired domestic workers, caregivers, and seafarers as well as OFWs heading to the United States of America through H2B visa, Canada, United Kingdom, Ireland, and Netherlands.

One of many problems many Filipino facing when they decide to work abroad is the "placement fee".

This is even if the rule of Philippine Overseas Employment Administration (POEA) with regards to "No Placement Fee" hasn't changed yet.

Which means, No Placement Fee for hired domestic workers, caregivers, and seafarers as well as OFWs heading to the United States of America through H2B visa, Canada, United Kingdom, Ireland, and Netherlands.
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 Placement fees for all other OFWs are allowed, but only for one month's salary and only after an employment contract is signed.

But just recently, in Business Mirror article, the World Bank (WB) noted, that the Philippine implementation of "No Placement Fee" policy for OFWs remains inconsistent.

World Bank explains that placement fees paid by OFWs vary from as low as $5 in the Philippines to Saudi Arabia corridor, but as much as $100 for the Philippines to Qatar job destination.

 Read: New Zealand, in need of 5,000 Filipino Skilled Workers - No Placement Fee!

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 According to World Bank, the enforcement of "No-Fee Policy" seems to vary across corridors and recruitment agencies avoid no-fee policy by imposing additional charges for training.

Aside from this, World Bank noted that recruitment fees differ in terms of OFWs gender. Female OFWs in Saudi Arabia and Qatar pay lower recruitment fees compared to their male counterparts.

The bank added that these are an indication that the Philippines policy on placement fees are not implemented as expected.

 Read: OFWs Are You Infavor of Marriage Dissolution Bill?
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Thursday, June 22, 2017

World Bank: Duterte's Philippines Is The 10th Fastest Growing Economy In The World

President Rodrigo Duterte's economic team seems to be doing a good job at leading the country’s vibrant economy, which is the world’s 10th fastest growing economy in the world in 2017. That’s according to the World Bank’s latest edition of Global Economic Prospects. For 2017, Philippines’ economy is expected to advance between 6.5 to 7.5 percent. That’s almost twice the country’s long-term growth. GDP Annual Growth Rate in Philippines averaged 3.68 percent from 1982 until 2017, reaching an all time high of 12.40 percent in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985, according to Tradingeconomics.com. The Philippines economy has benefited from a stable macroeconomic environment of low inflation and low debt to GDP ratio, which has helped sustain a healthy domestic demand growth; and from a revival of the Asian Pacific region that have boosted exports, which account for close to a third of GDP. Exports from the Philippines rose 12.1 percent from a year earlier to USD 4.81 billion in April of 2017. The country's expansionary fiscal policy has boosted capital formation, while robust remittances, credit growth, and low inflation have supported private consumption. Policies in the Philippines remain accommodating. Continued growth, led by accelerated public and private investment, is expected to remain at just under 7 percent in 2017-19—significantly higher than the long-term average of 4.3 percent. Here are the world's ten fastest-growing economies in the World:



President Rodrigo Duterte's economic team seems to be doing a good job at leading the country’s vibrant economy, which is the world’s 10th fastest growing economy in the world in 2017. That’s according to the World Bank’s latest edition of Global Economic Prospects.

 For 2017, Philippines’ economy is expected to advance between 6.5 to 7.5 percent. That’s almost twice the country’s long-term growth.

GDP Annual Growth Rate in Philippines averaged 3.68 percent from 1982 until 2017, reaching an all time high of 12.40 percent in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985, according to Tradingeconomics.com.

 President Rodrigo Duterte's economic team seems to be doing a good job at leading the country’s vibrant economy, which is the world’s 10th fastest growing economy in the world in 2017. That’s according to the World Bank’s latest edition of Global Economic Prospects. For 2017, Philippines’ economy is expected to advance between 6.5 to 7.5 percent. That’s almost twice the country’s long-term growth. GDP Annual Growth Rate in Philippines averaged 3.68 percent from 1982 until 2017, reaching an all time high of 12.40 percent in the fourth quarter of 1988 and a record low of -11.10 percent in the first quarter of 1985, according to Tradingeconomics.com. The Philippines economy has benefited from a stable macroeconomic environment of low inflation and low debt to GDP ratio, which has helped sustain a healthy domestic demand growth; and from a revival of the Asian Pacific region that have boosted exports, which account for close to a third of GDP. Exports from the Philippines rose 12.1 percent from a year earlier to USD 4.81 billion in April of 2017. The country's expansionary fiscal policy has boosted capital formation, while robust remittances, credit growth, and low inflation have supported private consumption. Policies in the Philippines remain accommodating. Continued growth, led by accelerated public and private investment, is expected to remain at just under 7 percent in 2017-19—significantly higher than the long-term average of 4.3 percent. Here are the world's ten fastest-growing economies in the World:

The Philippines economy has benefited from a stable macroeconomic environment of low inflation and low debt to GDP ratio, which has helped sustain a healthy domestic demand growth; and from a revival of the Asian Pacific region that have boosted exports, which account for close to a third of GDP.

 Exports from the Philippines rose 12.1 percent from a year earlier to USD 4.81 billion in April of 2017.



The country's expansionary fiscal policy has boosted capital formation, while robust remittances, credit growth, and low inflation have supported private consumption.

Policies in the Philippines remain accommodating. Continued growth, led by accelerated public and private investment, is expected to remain at just under 7 percent in 2017-19—significantly higher than the long-term average of 4.3 percent.

 Here are the world's ten fastest-growing economies in the World:
source: Forbes, World Bank, World Economic Forum



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