Unescap: PH economy to grow 6.5% this year

ACCELERATED government spending and a low inflation rate will support the Philippine economy to expand by 6.5 percent this year but the government must also step up regulatory reforms to sustain the growth, a United Nations agency said.

“The Philippines will be another strong performer in 2015, with growth forecast to expand by 6.5 percent relative to 6.1 percent growth in 2014,” the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) said in its newly released Economic and Social Survey of Asia and the Pacific 2015, the annual flagship publication of the agency.