Late spurt boosts outlook for 2016

Mixed developments defined the Philippines’ economic performance last year but the government remains optimistic that gross domestic product (GDP) growth will hit at least 6 percent, contrary to analysts’ views that expansion will be limited to a range of 5.5 percent to 5.9 percent.

The forecasts are lower compared to 2014’s actual growth of 6.1 percent and are also below the official 7 percent to 8 percent growth target for the just-concluded year.