MANILA, Philippines - The economy is expected to grow at a faster pace of at least seven percent next year from this year’s 6.5 percent to be supported by infrastructure projects and exports, the Philippine Chamber of Commerce and Industry (PCCI) said.
“Hopefully, there won’t be natural calamities. I think next year will be a good year,” PCCI president Alfredo Yao told reporters.
He said the group sees the economy growing by at least seven percent next year, to be supported by the infrastructure projects being put up.
“Infrastructure projects we bid out this year will be full steam next year,” Yao said.
Exports are likewise expected to drive faster economic growth next year.
“Exports are doing good,” Yao said.
Latest data from the Philippine Statistics Authority showed the country’s merchandise exports climbed 9.2 percent to $51.769 billion this year from $47.413 billion in the same period of 2013.
Data on services exports for this year were not immediately available.
Trade Undersecretary Ponciano Manalo, Jr. said earlier the country’s total exports are seen to grow by 10 to 11 percent this year and next year to be supported by the rebound of the electronics sector and continued growth of services exports.
The country’s total exports reached $78.5 billion last year.