TAG: Financial Services
With GDP growth coming in at 5.8% for 2015, after averaging 6.2% from 2010-14, the Philippine economy is establishing a record of stable high growth rates, and the long-term growth outlook has improved. The BPO sector appears set to continue snowballing and increasingly leading growth across the economy, and the drop in oil prices is an important positive change, the effects of which are likely to continue to play out for years.
Recent efforts by the Qatari government to diversify the economy have paid off in terms of helping the country weather the recent downturn in global oil and gas prices.
The story of Kuwait’s economy, like so many of its neighbours, has been dominated by oil and, before that, by pearling and fishing, so it is little surprise that Kuwait Vision 2035 draws on the country’s trading past to secure its future. Large-scale infrastructure projects and increased private sector participation in the local economy should help the country navigate challenging external economic conditions.