“A HUGE WINDOW of opportunity” needs to be seized by the government if it is to implement reforms that will accelerate growth and reduce poverty, the World Bank yesterday said.
An improvement in public finances and overall competitiveness, the Washington-based institution said in its Philippines Quarterly Update, will allow the country to achieve “rapid and sustained growth of above 5% for a long period of time.”
For the meantime, the Bank said it was keeping its 4.2% gross domestic product (GDP) growth forecast for this year — issued last December — and announced that the expansion would likely pick up to 5% in 2013.
Read the full article: http://www.bworldonline.com/content.php?section=FrontPage&title=Reforms-urgently-needed&id=48663
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Source: Business World,
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