Philippines infrastructure: How these projects could boost the country's economy

Описание: In previous videos we have been talking about the infrastructure projects that are being carried out in the Philippines, but now imagine for a moment the impact that all these projects will bring to the economy of this country in the next decade. In this video we will analyze...

How has Philippine infrastructure impacted its economy? What measures has the new government taken to achieve favorable results? Will the Philippines become one of the largest countries in Asia in the next decade?

The Philippines has demonstrated exciting results over the last few years. With the help of multilateral financial institutions, especially the Asian Development Bank (ADB), this Southeast Asian country is advancing in its economic development, highly concentrated on infrastructure.
Overcoming the COVID-19 pandemic was essential for the Philippines' return to stability and economic growth. The severe confinement, one of the strictest in the world, caused the biggest drop in growth of the century, 9.6%, until then, the country had enjoyed an economic boom without interruption for at least 21 years, with an average GDP growth rate of 5.8% in the decade 2009-2019.

But the recovery from the health crisis can be described as brilliant: the Philippines economy has already closed 2021 with a growth rate of 5.6%, far exceeding even that predicted by the IMF.

As if this were not enough, the second quarter of 2022 recorded a GDP increase of 7.4%, exceeding all expectations. Furthermore, the forecasts could not be more favorable: Over the next decade, the Philippines economy is expected to grow rapidly, with total GDP increasing from $440 billion in 2023 to $800 billion in 2030.

So what is the basis of such a favorable current situation?

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