It’ll take 45 years before PH is like Singapore, says Central Bank official

Inquirer.net reports that Antonio Cintura, Bangko Sentral ng Pilipinas (BSP) director of economic research, said it would take the Philippines 45 years before it reaches the current economic status of Singapore.

Inquirer.net reports that Antonio Cintura, Bangko Sentral ng Pilipinas (BSP) director of economic research, said it would take the Philippines 45 years before it reaches the current economic status of Singapore. Cintura made the statement during the Philippine Economic Briefing attended by business leaders  on Monday, October 24, in Cagayan de Oro City.

 

Cintura explained that while the Philippine economy has indeed been growing, it seems "sluggish" when compared to other countries in the Association of Southeast Asian Nations (Asean) region. "On an average, China has a sustained an economic growth of 9-10 percent while the Philippines has only four percent growth annually," he said.

 

Cintura also added that the Philippines has been "running only next to Cambodia as the slowest-growing country in the Asean."

 

For more on this story, log on to Inquirer.net.

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