Philippines GDP grows 7% in Q2 2016

The Philippines is the second fastest or the fastest growing economy in Asia at 7 percent in the second quarter of this year. Figures from India is not out yet. China grew by 6.7%. The Philippines also had a strong growth in the first quarter of the year at 6.8%.
This is good news but for the majority of Filipinos, it might not mean anything to them since poverty is still prevalent all over the country. I do hope though that the growth will be sustained so eventually it will trickle down to the poor.

Aug. 18 — Philippine Finance Secretary Carlos Dominguez discusses the strong second-quarter GDP figures, the country’s budget gap and his outlook for the economy. He speaks to Bloomberg’s Rishaad Salamat on “Trending Business.”
Source: Bloomberg