PH economy to grow 7%, smashing the Titanic of corruption

The Philippines economy will grow by 7% this year, the only country among the Big Five of the Asean (Association of Southeast Asian Nations) to have been upgraded by the International Monetary Fund. The Fund also forecasts a 6% growth in 2014.

Such robust growth takes place despite a slowdown in major markets like the United States, Europe, China and Japan as well as a marked slowdown in the emerging economies.