World Bank President Jim Yong Kim with Philippine President Benigno Aquino III. During his first visit to the Philippines, Kim reaffirmed the bank’s strong commitment to supporting the country’s development. Photo by: Dominic Chavez / World Bank / CC BY-NC-ND

 

The Philippine economy has been performing well in recent years, growing by an average 5 percent annually. Growth is driven by the country’s strong macroeconomic policies, huge export sector, expanding transportation and communication sectors, and liberal investment environment. Strong remittance inflows contributed to growth as well, and buttressed the Philippine economy against the effects of the global financial downturn.

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About the author

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Aimee Rae Ocampo

In her role as editor for business insight, Aimee creates and manages multimedia content and cutting-edge analysis for executives in international development. As the manager of Development Insider, Devex's flagship publication for executive members, she is constantly on the lookout for the latest news, trends and policies that influence the business of development.


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