Philippines is top Economical performer in ASIA according to AMRO






The chief economist of the asean mactoeaconomeic research ofiice(AMRO)hoe ee knor had released a good news indeed for the Philippines especially to President Rodrigo Duterte. Mr.Knor stated that "The Philippines is the top performer," "it is very attractive destination for investments" he added.

Chief Executive knor also explained the philippines' political risks was not that much and this findings were totally help the Philippines economic status "so far, not much... growth will continue" Mr.Knor said when asked about seeing political  risks from President Durterte's term.

The AMRO's Chief Executive stated and explained that the main risks for the philippines is the coutry's dependency on Overseas Worker's remittance and outsourcing business process. "This is a good current account deficit because it's sustained by investment's "Mr.Knor stated as' he explained the country's financial reserves and it is "relatively high" he added.

Inflation is picking up and the current account deficit may be a cause for concern, he said, “but this is a good current account deficit because it’s sustained by investments.”

Khor noted that the Duterte administration has sustained sound economic policies of the past and international credit rating agencies have maintained the country’s investment grade.

As the Singapore-based international group, AMRO releases it's flagship outlook inauguratation report on their economic outlook for the Association of Southeast Asean Nation's(ASEAN)

Philippines has not making any reasons for them to become less attractive for investments through President Duterte's Administration and this was based on the AMRO's reports.
The AMRO inaugural report is being released 20 years after the region was hit by the financial crisis. Khor said the crisis “shaped the trajectory” of regional growth.

He said growth never fully recovered, and one reason “is that the public sector got clobbered.”

This year, however, AMRO sees the economic outlook for ASEAN + 3 improving with a recovery in global trade and investment fueled by domestic demand. Regional integration is also benefiting individual economies, the group reported.

Khor stressed that “you can never be too complacent.” AMRO is urging governments to give priority to financial stability in balancing efforts for economic growth.

AMRO was created after the Asian financial crisis. Khor said the crisis led to reforms that imposed discipline in monetary policies, strengthened regulatory frameworks, built up reserves buffers, encouraged flexible exchange rates and fiscal consolidation and promoted reforms in the corporate and financial sectors.
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