Stronger expansion tied to investments, ‘Build Build Build’The World Bank expects the Philippine economy to keep growing by 6.7 percent this year and the next, with any acceleration to depend on robust investments and the success of the government’s ‘Build Build Build’ program. “Investment growth hinges on the government’s ability to effectively and timely implement the Build, Build, Build public investment program,” it added. Authorities will have to be mindful of rising deficits and financing costs amid a pick-up in government expenditures, the World Bank warned, given tighter global financing conditions. The World Bank also called for structural policies that support investment and trade if productivity and growth were to accelerate. “The country’s most pressing challenge remains the delivery of inclusive growth, sustained investment in physical infrastructure and human capital such as in education, skills and health, [which]are important to create quality employment especially among the poor,” the World Bank said.

Source: Manila Times April 12, 2018 16:30 UTC