Businessmen said yesterday the 5.8 percent GDP (Gross Domestic Product) growth achieved by the Philippines in 2015, while lower than that posted in the previous year, was good enough and will propel for the country’s higher economic growth in 2016. Philippine Chamber of Commerce and Industry George Barcelon said the 5.8 percent GDP growth in 2015 was a respectable number because of the slower growth in first semester of the year due to the lingering impact of the port congestion. There were other factors like the decline in the exports sector and other external factors including the still sluggish EU and US economies although the US has already shown it is on a recovery mode. “So we will do better this year with services, industry and high consumer optimism,” he said. Lower prices of fuel will also be a big factor although there will be some impact due to the [...]
