President of the country is fighting corruption and developing infrastructure
Thanks to good growth performance in the last quarter of 2013 the past two years have been record - successful for economy of the Philippines for the first time since the 1950's. Consumer spending in the last three months of last year grew by 5.6 % compared to 2012, investments increased by 5.7%, and the production - by 12.3 %, Bloomberg writes.
In 2013 Philippine GDP grew by 7.2 %, according to the statistical agency of the country. In 2012 the figure was 6.8%. This is the fastest two-year growth from 1954 - 1955. More than half a century ago, the economy grew during the post-war reconstruction boom due to a significant contribution to infrastructure.
