Aquino govt assures of 'promising future'
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The Aquino administration said the Philippines was up for a "promising future" that investors should take advantage of, saying there was a good chance the economy would grow more than 7 per cent a year for at least 10 years after 2015.
On top of the country’s favourable economic fundamentals, the administration said the so-called “demographic window” that the Philippines would enjoy by 2015 could make the country a good investment destination.
“A promising future lies ahead,” the government said in its latest economic presentation distributed online to foreign subscribers, which included businessmen, bankers and economists.
The “demographic window” is the period when the bulk of an economy’s population is of working age. In particular, it is the time when the proportion of the population aged 15 and younger falls below 30 per cent and when the proportion of the population aged at least 65 years old drops to less than 15 per cent.
Such a period should be enticing to businesses because it is when labour supply and income-earning consumers are abundant.
The Aquino administration said the demographic window would add icing to the cake for investors, citing the favourable macroeconomic indicators, including low inflation, sustained economic growth, a healthy banking sector, and strong remittances from overseas Filipinos that help fuel household consumption.
The country is expected to enjoy a robust growth rate of more than 7 per cent over the long term starting 2015.
