The Filipino economy managed to stay steady amid a global financial meltdown, expanding 5.6 percent in the second quarter of 2015.
The figure released shows that the country is one of the few that can come out of this global crisis relatively unscathed.
CCTV’s Barnaby Lo filed this report from Manila.
Philippines’ economy ‘strong’ amid global stock unrestThe Filipino economy managed to stay steady amid a global financial meltdown, expanding 5.6 percent in the second quarter of 2015.
- Stock prices fell so low, so fast at the Philippine Stock Exchange on Monday the entire year’s gains were wiped out. Most other markets suffered the same fate, as concerns over the Chinese economy and an impending interest rate hike in the U.S. triggered sell-offs.
- The panic appears to be over now. Philippine stocks are recovering and could maintain momentum as the country’s economy continues to be one of the best-performing in Asia.
- The government revealed the economy grew by 5.6 percent in the second quarter. That’s stronger than the 5 percent in the first three months of the year.