About The Philippines economic growth
The Philippine economy is regarded as being one of fastest economically developing countries in South East Asian region. In financial year 2007, its gross domestic product grew at a rate of 7.3 percent. This was quickest for the Philippines economy in last thirty years. Economic growth Philippines can stand toe to toe with some other rapidly developing South East Asian economies like India for example.
US economy has been going through a recession. Due to collapse of financial market and burst of housing bubble, economy of US has been adversely affected. US’ influence over world economic matters has naturally led to a global economic crisis, since its own economy is going through a lean patch. Effort are always on to get US out of recession and back to economic growth.
Weak fourth quarter
Singapore was the third fastest growing economy in the world in 2010 behind Qatar and Paraguay – with a real GDP growth rate (constant prices, national currency) of 14.471 percent. This was a strong response from the previous two years where the GDP growth rate had been relatively poor – 1.487 percent in 2008 and negative 0.77 percent in 2009 – in the aftermath of the 2008 global financial crisis.
Latest the Philippines economic forecasts have suggested that continuous depreciation faced by the Philippines peso could result in rates of inflation reaching an all time high in February. Philippines’ economic forecasts have confirmed that this rate could be ranging within 6.6 and 7.5 percent.
However noted financial experts, as part of their economic forecasts of Philippines have reiterated that there is still enough scope for central bank to cut down on rates of interest. They have said that water rates would go up in near future as well.
In looking at the world economic position, we see that global output saw an increase for output by 3.8% during 2008, a decline from the 5.2% reported in 2007. While some countries around the world have experienced incredible growth and profit, others have suffered. For growth, China has proven to have the biggest change of 9.8%. Following China is Russia, and then India. However, most countries went through some rough times in 2007 to 2008 because of the global financial crisis.
China economic growth has been acknowledged by many as remarkable. In a very short span of time, it has grown to become one of world’s largest economies. It is predicted that by 2035, Chinese economy is likely to overcome that of United States of America. Credit for this remarkable economic growth of China goes to its communist government, which adopted several economic reforms and measures aiming for economic development.
Global economic slowdown
About economic development Singapore
Singapore economic development focuses highly on manufacturing industry. Singapore’s national government is anxious to preserve it from possible threats like hollowing out as has happened in Hong Kong. In last twenty years, Singapore has increased scope of tertiary education for accentuating economic progress.
