Filipinos to enjoy 2018 economic development programs through 2019
By Kate G. Cayamanda
Photo By Ariel G. Raule/THEPHILBIZNEWS
“The Filipinos to enjoy 2018 economic development programs through 2019”, says Department of Trade & Industry Secretary Ramon Lopez during the DTI PressConference on the 2018 Accomplishment Report and Program Outlook for 2019.
Secretary Lopez presented during the press conference the report showing how the Philippines was able to achieve its economic growth and reforms from the previous years.
According to the Trade Chief, the aggressive spending for infrastructure has been made through the Build, Build, Build project which made us the third fastest growing economy of 2018 in East Asia.
Food manufacturers, communication equipment and chemicals are the leading sectors that contributed to the country’s economy advancement wherein the average manufacturing growth is 7.6%.
Fortunately, employment rates in the country has improved over the years, from underemployment record of 19% in 2010-2015 and down to 16.9% in 2018.
The reported 2018 GDP of the Philippines was 6.8%, while inflation rate was at 5.1% for the whole year compared with the previous years.
The DTI Secretary assures everyone that sustainable development for economic programs will be done throughout 2019 by continuing the Build, Build, Build project of the current administration and support the micro, small and medium enterprises and encourage more foreign investors to come to the Philippines and start their business.