PH economy seen growing 7.4% in 2014

The Philippine economy is expected to grow by 7 percent for the whole of 2013 and 7.4 percent in 2014, as reconstruction efforts for areas affected by Typhoon Yolanda take place, among other factors.

Victor Abola, University of Asia and the Pacific economist, said at the First Metro Investment Corp. (FMIC) press briefing on Monday that besides the reconstruction effort in the Visayas, the country’s gross domestic product (GDP) is seen to go up because of “robust services sector” as well as the potential advancement of the public-private partnership (PPP) projects lined up.