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"The Philippines registered a 7.3% growth in 2010, but slowed down to 3.6% in 2011 as the global economy hit demand for Philippine exports and the government spent less-than-planned on infrastructure projects.
The Philippine government expects the local economy to stay resilient despite the economic challenges of key trading partners in the west. It is targeting a 5% to 6% growth this 2012 -- slower than the 2012 Wealth Report's annual growth forecast.
This 2012 Wealth Report mirrors a study released in January by HSBC, which forecast that the Philippines could become the world’s 16th largest economy by 2050."
http://www.rappler.com/business/1092...wth-until-2050
