Philippine Economy: Sluggish in 2011, Bullish in 2012?
The Philippine domestic economy shrunk to 3.7 percent in 2011, after a growth of 7.6 per cent in 2010. Outlook for 2012 is relatively sanguine with the government hinging its optimism on robust consumer demand and a more vigorous public spending. However, downside risks to growth persist with the global recovery poised to remain slow and uncertain. [ER-12-01]. URL:[http://www.senate.gov.ph/publications/ER%202012-01%20-%20March%202012.pdf].
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