RP economy recovers<\/p>\n
MANILA (AFP): The Philippine economy has shown strong signs of
\nrecovery but faces new threats from inflation and a growing trade
\ngap, a report submitted to an Asian Development Bank (ADB)
\nconference here yesterday said.<\/p>\n
The report, by the semi-official Philippine Institute for
\nDevelopment Studies (PIDS) forecasts gross national product (GNP)
\ngrowth of 5.3 percent and gross domestic product (GDP) growth of
\nabout five percent in 1994 with higher growth in 1995.<\/p>\n
The report credited this to economic reforms such as
\nliberalization of key sectors, adding that increased exports and
\nforeign investment as well as more spending on infrastructure and
\nimprovements in revenue collection, had \"raised the likelihood of
\nsustained growth in the medium term.\"<\/p>\n
However, the report also warned of \"risks that could undermine
\nthe growth process,\" among them the ballooning trade deficit,
\nforecast to hit US$8.2 billion in 1994.<\/p>\n
It also cited still-high inflation, despite the appreciation
\nof the Philippine peso since October. This could be a sign that
\nthe country's economic output is near the limits of its
\npotential, it said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-economy-recovers-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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