With GDP growth averaging 6.4% between 2010 and 2017, the Philippines is one of the top-performing economies in South-east Asia. Underpinned by its robust services sector, the country is seeing rising investment in manufacturing, strong remittance inflows from overseas workers and an infrastructure spending surge under the Build, Build, Build development programme of President Rodrigo Duterte. Sound fiscal and monetary policy-making should help prevent the economy from overheating, even as socio-economic challenges, income inequality and inflation pose continued obstacles to inclusive growth.
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