Sunday, January 29, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

GDP set to grow 6% in 2015

Gabrielle H. BinadaybyGabrielle H. Binaday
December 17, 2015, 11:45 pm
in Business
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

The Philippine economy will achieve a full-year growth of 6 percent in 2015, before picking up over the next six years, Economic Planning Secretary Arsenio Balisacan said Thursday.

“Our year-to-date performance reflects a steadily growing economy, and we are very optimistic that the Philippine economy will grow at 6 percent for full-year 2015,” Balisacan said in a year-end report.

Arsenio Balisacan

“Taking into consideration the 6-percent GDP growth during the third quarter of 2015, we expect our high growth trajectory to continue in the fourth quarter of the year as domestic demand continues to be strong. Together with the recovery of advanced economies expected next year and of the global economy in the medium-term, economic growth can accelerate to a level that can bring us to higher middle-income economy status by the end of the next administration,” he said.

Balisacan said the economy was expected to grow 8 percent by 2021, which would make it a higher-middle income country.  He said an annual growth of 7 percent to 8 percent under the next administration would be doable.

“[The economy] should be growing 6 to 7 percent or 8 percent in the next [six years]. [The] 7 percent  to 8 percent, I believe is very doable. Our economy is still starting from a low base so we are not yet in that condition where you expect the economy to grow at a slower pace,” he said.

ADVERTISEMENT

Balisacan said once the economy grew at this strong pace, the Philippines would join the ranks of higher-middle income economies.  The Philippines is currently in the lower-middle income bracket, with a gross national income per capita of $3,500. The higher-middle income’ GNI per capita currently ranges from $4,126 to $12,735.

“If you continue the pace that we have now, we should be a member of the upper middle income country before the end of the next administration,” Balisacan said.

Balisacan said the next administration could take advantage of the backlogs in infrastructure, investment innovations and human capital buildup to raise the potential of the economic growth.

“You can take advantage of those backlogs by addressing them quickly so that you can raise the level of the potential growth of the economy,” he said.

“I think if it’s going to be business as usual, we don’t aggressively address these constraints to growth, infrastructure, human capital, innovation, and so on, then the potential growth of the economy cannot be higher than 6 percent,” he said.

Tags: GDPPhilippine economy
ADVERTISEMENT
Gabrielle H. Binaday

Gabrielle H. Binaday

Related Posts

Handicraft exporter creates unique products

byManila Standard
January 28, 2023, 6:40 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Having her own export business is a dream project for Joam Basalo. It took her a decade and a half...

Read more

Business reality show host talks of business pitches in a new book

byManila Standard
January 28, 2023, 6:30 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Learn the tips and hacks for making compelling business pitches and winning big-ticket investors as John Aguilar, serial entrepreneur and...

Read more

Filipinos spent 75,305 hours in using financial apps last year

byManila Standard
January 28, 2023, 6:20 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

Over 2 million active users in the Philippines have spent a total of 75,305 hours, or an equivalent of 9...

Read more

SEARCA supports digitizing access to agricultural supply

byManila Standard
January 28, 2023, 6:10 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

To provide farmers better access to supplies for agricultural production, the Southeast Asian Regional Center for Graduate Study and Research...

Read more

Crosta Pizzeria co-owner shares her brand of leadership

byManila Standard
January 28, 2023, 6:00 pm
0
8
Crosta Pizzeria co-owner shares her brand of leadership

To hold nothing back is to be empowered to take on challenges that will surface as you follow your ultimate...

Read more

BSP ready to further tweak policy to contain inflation

byJulito G. Rada
January 27, 2023, 9:20 pm
0
8
Remittances increased 5.3% to $25.929b in first 10 months

The Bangko Sentral ng Pilipinas reaffirmed its readiness to tweak its monetary policy stance to rein in inflation in the...

Read more

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • DOJ: We won’t yield to ICC
  • PBBM raises 7 priority bills in talk with Congress leaders
  • US Defense chief sets PH trip next week
  • Gov’t eyes link of BI officials to jailed Japanese mob boss
  • Angel wings
  • Low pay keeps guidance counselors from school
  • Biker’s haven

Advertisement

Latest News

Angel wings

byManny Palmero
January 29, 2023, 12:53 am
0
8
Bad weather hampers search for Cessna plane

Visitors have fun having souvenir photos taken with huge angel wings at the backdrop at Tambaan Farm in Hilongos Leyte.

Read more

Low pay keeps guidance counselors from school

byManila Standard
January 29, 2023, 12:50 am
0
8
Sexual offense victims urged to sue 7 teachers

The Department of Education on Saturday admitted there is a scarcity of guidance counselors to attend to the psychosocial needs...

Read more

Biker’s haven

byDanny Pata
January 29, 2023, 12:48 am
0
8
Bad weather hampers search for Cessna plane

Bikers can take their routine round and at the same time enjoy the scenic view at the Lakeshore in Taguig...

Read more

Onions at low P170/kilo as imports boost supply

byManila Standard
January 29, 2023, 12:40 am
0
8
Airport mess trigger: Faulty circuit breaker

The prevailing retail prices of onions have dropped to as low as P170 per kilo for the loc white variety...

Read more

COVID slows down; WHO mulls
lowering alert level on pandemic

byManila Standard
January 29, 2023, 12:35 am
0
8
PH logs 2 Omicron cases

COVID-19 has significantly slowed down, but still kills thousands across the globe. The World Health Organization (WHO) has begun discussions—its...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App