2016 ended with the world uncertain over global politics and policies and how these would impact on economies and people. Indeed, 2016 brought volatility, uncertainty and other threats to growth and stability. In the Philippines, strong fundamentals borne out of the continuing pursuit of a reform agenda, kept our economy going… and growing.
And once again, we achieved convergence of low inflation (below 2%) and healthy growth. The Philippine economy grew by a 7.0 % in the first three quarters of 2016, giving us the distinction of being among the fastest growing economies in Asia.