Since the election of reformist President Benigno Aquino, the Philippine economy has been on an unprecedented upswing, defying almost all earlier forecasts. Today, the country is among the fastest-growing economies in the world, expected to grow by up to 8 percent this year. No wonder the Philippines is seen as the next Asian tiger economy and is expected to attain a much-coveted “investment grade” rating this year.
The emerging consensus among experts is that the increasingly positive economic outlook is a result, first, of the Aquino administration’s good governance agenda focused on tough anti-corruption reforms and, second, of the larger focus on revamping the country’s flailing infrastructure through the introduction of major public-private partnership projects. ...
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