Economy

While other countries in the region may have been taking the spotlight as top performers, the Philippines has been recording steady and continuous growth. Indeed, the country has not had a serious annual drop in GDP since 1985. Going forward, expectations are positive. While the IMF has been reducing growth forecasts in the region, the organisation’s 2014 prediction for the Philippines is staying stable at 6%. The economy’s strong fundamentals have received the recognition of the IMF and international credit rankings agencies; however, greater investment will be key to unlocking the country’s full potential. This chapter contains interviews with Cesar V Purisima, Secretary, Department of Finance; Roberto F Ocampo, Former Secretary of Finance, and Co-Vice Chairman, Makati Business Club; Guillermo Luz, Co-Chairman, Private Sector, National Competitiveness Council (NCC); and Miguel Varela, President, the Philippine Chamber of Commerce and Industry (PCCI).