‘Economy strong but faces risks’

PHILIPPINE economic managers remain optimistic about the country’s growth prospects, but told a Congressional hearing Wednesday that they are also wary of global and domestic risks that could potentially hamper sustainable growth.

Presenting the proposed 2015 national budget at the House of Representatives, Socioeconomic Planning Secretary Arsenio Balisacan said the Philippines continues to be one of the fastest growing economies in Asia despite the lower-than-expected 5.7 percent growth in the first quarter of 2014.