MANILA, Philippines — The Philippines is capable of sustaining a long-term economic growth of 6.5 percent amid the long list of structural reforms that started way back in the 1990s, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. The BSP chief said the country’s economic growth is solid and sustainable. “The Philippines recorded its 82nd consecutive quarter or roughly more than 20 years of uninterrupted economic growth in the second quarter of 2019. On the production side, Diokno said economic growth was propelled mainly by the robust performance of the services sector, while broad-based expansion in household consumption and government spending reinforced growth on the demand side. “As more government infrastructure programs get underway, the positive spillover effects on private capital formation would also contribute to economic growth,” he said.

Source: Philippine Star October 18, 2019 16:01 UTC