Vibrant Careers in The Philippines Draw in More Investors

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Forecasts for inflation are trimmed from ADO 2013. A great harvest early in the year and soft global commodity costs checked inflation at 2.8% on average in the first 8 months. Peso depreciation and robust domestic demand are expected to exert modest upward pressure on costs in 2014.

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Vibrant Careers in The Philippines Draw in More Investors

  1. 1. energetic occupations in the philippines Vibrant Work in The Philippines Draw in More Investors Buoyant investment, particularly in building, and strong consumption propelled increase to 7.6% in the first half, a stronger result than expected in the Asian Development Outlook (ADO) 2013 in April. Spending related to elections in May contributed to growth. Fixed investment increase hastened to 12.7%, outpacing a 5.3% increase in private consumption. The state reached its first investment-grade credit ratings this year and also a higher position in the international competitiveness survey. This means that makati occupations and Philippine Professions will get more enticing. In the ADO 2013 Update in October, the prognosis for 2013 was raised to 7.0% and for 2014 was nudged up to 6.1%. The unemployment rate increased to 7.3%, and underemployment was high at 19.2%. Philippines 2013 2014 ADO 2013 Update ADO 2013 Update GDP Growth 6.0 7.0 5.9 6.1 Inflation 3.6 3.0 3.8 3.5 Current Account Balance (share of GDP) 3.0 3.4 3.2 3.5 Source: Asian Development Outlook (ADO) 2013 Update; ADB estimates. Predictions for inflation are trimmed from ADO 2013. An excellent crop early in the year and soft international commodity costs controlled inflation at 2.8% on average in the very first 8 months. Peso depreciation and robust domestic demand are likely to apply small upward pressure on prices in 2014. In contrast with several other subregional markets, the Philippines' current account reinforced in the first half, producing a larger surplus, equivalent to 4.2% of GDP. Supporting the surplus are remittances from overseas workers totaling $11.8 billion in the first 6 months and steady expansion in business process outsourcing services. Current account forecasts with this year and next are increased somewhat. Do you want to increase your organization in Manila or Makati? It's time to ramp up your jobs in the Philippines Source: ADB. 2013. Asian Development Outlook 2013 Update. Manila. Anchor

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