Positive Economic Forecast of Philippine Economy

[MikeLigalig.com]

Swiss global financial services company UBS AG has revised upward its economic growth forecast for the Philippines this year to 4.5 percent from the previous 3.3 percent.

In a report, Edward Teather, UBS economist said explained that higher gross domestic product (GDP) growth forecast for the Philippines reflects the government’s improved public spending and the eased monetary policy. But despite the upward revision on the bank’s growth forecast for 2012, Teather said that UBS has retained its GDP growth projection of 4.7 percent for next year. (CSL) - Manila Bulletin