MANILA — “So the last will be first...”
It may be premature, but the Philippine economy looks as though it may outperform most of its East and Southeast Asian neighbors, at least for a couple of years. That says something about improvements in economic management, and much more about the different ways in which countries are being affected by the global crisis.
The Philippines expects GDP to grow by 2 to 3 percent this year, a rate superior to anything in East Asia other than China and Vietnam, and a sharp contrast to the negative numbers elsewhere.
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