Though the inflation rate was by far more serious than anticipated, the economy continued its booming pace, making it still one of the highest performing in the East Asia region. Anticipated at around three to four percent during the year, the inflation rate peaked at seven percent year-on-year by the third quarter. The likelihood of reaching growth a little close to 6.5 percent annual growth by the end of the year is possible. Such a level of growth is below the desired seven percent growth rate that the government planners are seeking. Future industrial policy should be able to promote some amount of integration of enterprises located within the domestic economy with enterprises that also located in the export processing zones.

Source: Philippine Star December 18, 2018 16:02 UTC