“The Philippines has large favorable factors because it has macroeconomic stability, abundant natural resources, and a large working-age population. However, it needs to improve its governance, competitiveness and
attractiveness to investments,” Dr. Anoop Singh, director of the Asia and Pacific Department of the IMF said. In a recent seminar-forum co-organized by the Philippine Institute for Development Studies (PIDS), the IMF and Bangko Sentral ng Pilipinas (BSP), Singh also said that growth in the Philippines does not show much robustness as compared to other Asian countries. However, the IMF official said that he is optimistic with the World Economic
Outlook‘s projected growth of over 6 percent for the Philippines this year. “What needs to be done to raise growth is to have more investments and higher productivity,” said Singh.
